Designed for millennials, Lyf residences to seize opportunities in co-living and co-working
The Ascott Limited (Ascott) is unveiling its newest brand, Lyf, designed for and managed by millennials. Lee Chee Koon, Ascott’s CEO, said, “Millennials already form a quarter of Ascott’s customers and this segment is poised to grow exponentially. Lyf is a unique accommodation tailored for this demographic, including technopreneurs, start-ups and individuals from music, media and fashion. With the rising trend of co-living and co-working, Ascott aims to have 10,000 units under the Lyf brand globally by 2020.”
He added that Ascott is on the lookout for sites in key gateway cities for Lyf and is open to both investment and management contracts to meet the growing demand for such co-living spaces. “As we scale up to achieve our global target of 80,000 units by 2020 through Lyf and our other brands, our guests can easily take their pick from our wide-ranging portfolio across the world. We will continue to test new concepts to seize market opportunities and raise the bar in our customer experience to ensure that Ascott retains its leading edge in the industry.”
