Ascott targets 150 lyf coliving properties by 2030 as demand for its coliving brand gains momentum

The Ascott Serviced Residence Global Fund currently owns two lyf-branded coliving properties – lyf Funan Singapore as well as lyf Gambetta Paris, Ascott’s first lyf-branded property in Europe that is slated to open in 2023.

Mr Goh added: “lyf as a digitally-enabled coliving concept continues to resonate well with our guests and partners across the world with new signings and property openings being on track despite COVID-19. The pandemic has spurred a new way to live and work. We see more digital nomads and self-starters preferring to work remotely, demanding novel experiences and opportunities to connect. The lyf brand, with its coliving spaces and innovative in-house activities, offers something that is hard to quantify – the community of like-minded individuals at one’s doorstep and social interactions with one’s neighbours. From its fully-furnished apartments, the welcoming environment to the genuine connection shared amongst our guests, lyf is thoughtfully designed and curated to meet the needs of these next-generation guests.”

Ms Tan Bee Leng, Ascott’s Managing Director for Brand & Marketing, said: “The lyf brand has always been advocating new ways of living and forming communities. We are now enhancing our lyf community building efforts beyond the walls of our apartments and the lyf social spaces. Tapping on VR and AR technologies, lyf is aiming to offer a borderless experience to our guests in the virtual realm. For example, our lyf Champions² can host virtual property tours live or our Ambassadors of Buzz³ can offer custom lyf tote bag design workshops where guests can then purchase their own creations in the metaverse as non-fungible tokens (NFT) or as actual merchandise in the real life. Guests looking for a workout can even spar over a game of virtual tennis and connect with other guests. These virtual experiences will allow guests at lyf to explore, engage and interact with lyf as well as with one another like never before."

Ms Tan added, “Creative coinnovation with industry partners, domain experts and institutes of higher learning will be a key focus for Ascott in our brand development work. We are in talks to set up more innovation labs for our other brands to field test new lodging concepts and hospitality programming. These living labs will enable us to rapidly prototype anything from eco-gyms to the latest cutting-edge technology. Guest usage patterns and preferences can then be translated into actionable insights to improve and expand Ascott’s hospitality product and service offerings. It will also shore up Ascott’s competitiveness through the upskilling of staff and the honing of our innovation capabilities.”

What’s next for lyf

In 2022, five lyf properties are slated to open across the globe in gateway cities such as Bangkok, Cebu, Kuala Lumpur, Melbourne and Xi’an. Five other lyf properties are scheduled to open in Beijing, Danang, Ho Chi Minh City, Manila and Paris by 2025.

Soon after the launch of lyf one-north Singapore, lyf Hongqiao Shanghai and lyf Farrer Park Singapore opened their doors in February 2022. lyf Hongqiao Shanghai has a prime location within the Hongqiao Central Business District, surrounded by iconic landmarks, famous scenic spots and a variety of restaurants while lyf Farrer Park Singapore is located in one of Singapore’s most culturally rich neighbourhoods.

Notes:

^{1 Gartner, February 2022 – Gartner predicts 25% of people will spend at least one hour per day in the metaverse by 2026.}

^{2 The ‘mastermind’ who oversees the overall operations and performance of the lyf property}

^{3 The community manager who is responsible for translating lyf’s core values into social experiences for the guests and forging partnerships. Also the social media expert who creates content and organises activities to engage guests online.}