The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment (CLI), today announced the expansion of its award-winning lyf (pronounced ‘life’) brand with eight new property signings, expanding into new resort and city destinations such as Bali, Penang, Sydney and Frankfurt. From a bold vision that took root during its inception as a co-living brand, lyf (or ‘live your freedom’) is riding high on the growing demand for experience-led social living. It has now broadened into a multifaceted hospitality experience with flexible typologies, ranging from co-living accommodation and city hotels to full-service resorts. The brand is currently present in 21 cities across the world, with over 5,500 units both operating and in the pipeline.
Tailored for the next-generation traveller including digital nomads, technopreneurs, creatives and self-starters, lyf offers a stay experience that transcends the conventional. Whether it is a short visit, an extended stay, or a desire for a permanent address, lyf aims to establish itself as the trusted accommodation brand that connects guests with the city, its people, and its culture. Fuelled by the global success of the brand, lyf will continue to deliver its hallmark, experience-led social living concept to its growing legion of brand loyalists.
“In a world where travel is not just about reaching a destination but immersing oneself in the heartbeat of a city, lyf stands at the forefront of a new era in hospitality. lyf was first created for the next-generation traveller and has gained strong traction since its debut with lyf Funan Singapore in 2019. There is tremendous potential for us to further scale lyf across more hospitality asset classes, whether as a full-service hotel or resort, especially with the growth pace we have seen over the year. With more than 30 lyf properties both in operation and under development, Ascott will bring lyf to even more destinations in the year ahead, as we work towards our target of 150 properties with over 30,000 units by 2030,” said Kevin Goh, Chief Executive Officer for Ascott and CLI Lodging.
“Travellers’ evolving preferences for distinctive experiences have opened doors for us to adapt our brands strategically in response to consumer demand across different geographical markets. Ascott operates with a flex-hybrid model that gives opportunistic agility across our serviced residences, co-living properties and hotels. With the ability to scale operations across our spread of accommodation offerings, we are able to tailor and enhance our brands’ relevance and appeal in diverse locations. Our ambition for lyf, alongside our other brands, is to expand horizons, pushing boundaries across geographies while deepening our local presence in current and new locations,” added Goh.
With these eight new lyf properties that total close to 1,500 units, Ascott achieved a signing pace that has almost doubled that in 2022. These include lyf Frankfurt in Germany; lyf Bugis Singapore; lyf Brickfields Kuala Lumpur and lyf Georgetown Penang in Malaysia; lyf Canggu Bali in Indonesia; lyf on Sussex Sydney in Australia and lyf Shibuya Tokyo in Japan; as well as an additional property in Shanghai, China. A showcase of lyf’s brand presence taking flight globally, these properties are scheduled to open over the next four years.
Serena Lim, Chief Growth Officer, Ascott, said: “The lyf brand has captured the attention of the market with its dynamic designs, flexible spaces and well-curated programming with the community at its core. Owners and investors alike have seen the resilience and continued demand for experience-led social living that lyf has been synonymous with, an accommodation trend that has been made more pronounced post-pandemic and we believe is here to stay. lyf is thus well-positioned to cater to this growing interest, availing a brand that is not just conversion-friendly for owners, but also meets the increasing needs of travellers who are seeking the best of all worlds where they are able to mix privacy with social living, combining a space to work, stay and play. The brand’s growth momentum is stronger than ever, and plans are underway to launch across additional key destinations including that in the United Kingdom.”
Ascott saw a record number of lyf property openings in 2023, almost doubling that of 2022. These include lyf Schönbrunn Vienna in Austria most recently, that marked the debut of the brand in Europe; lyf Dayanta Xi’an in China, lyf Ginza Tokyo in Japan, lyf Chinatown Kuala Lumpur in Malaysia and lyf Malate Manila in the Philippines.
Featured prominently in these properties are intuitively designed communal spaces that include coworking lounge ‘Connect’, gymnasium ‘Burn’, laundrette ‘Wash & Hang’ and social kitchen ‘Bond’. Bringing these spaces to life is a suite of programmes that are curated by each property’s Ambassador of Buzz, where these activations serve to build meaningful guest engagement, delivering lyf’s hallmark concept of experience-led social living.
In line with the brand’s growth strategy, Adeline Phua has been appointed Managing lyf Partner to lead and propel the next phase of development and growth of lyf, reporting to Serena Lim. As Managing lyf Partner, Adeline directs the strategic growth of the lyf brand globally. Adeline has close to 20 years of global experience in hospitality strategy, planning, development, investment and asset management.
