- Plans for lyf to develop European footprint with enlargement into new cities in UK and Germany
- lyf expands model presence in Singapore, bringing whole tally to 4 lyf properties within the nation
- Extends attain into metropolis resorts with lyf in Australia, Tokyo, Kuala Lumpur and Malaysia
- Plans to open first resort property with lyf Canggu, Bali
UK – The Ascott Restricted (Ascott), a lodging enterprise unit wholly owned by CapitaLand Funding (CLI), at present introduced the enlargement of its award-winning lyf (pronounced ‘life’) model with eight new property signings, increasing into new resort and metropolis locations corresponding to Bali, Penang, Sydney and Frankfurt. From a daring imaginative and prescient that took root throughout its inception as a co-living model, lyf (or ‘stay your freedom’) is driving excessive on the rising demand for experience-led social dwelling. It has now broadened right into a multifaceted hospitality expertise with versatile typologies, starting from co-living lodging and metropolis resorts to full-service resorts. The model is at present current in 21 cities internationally, with over 5,500 items each working and within the pipeline.
Tailor-made for the next-generation traveller together with digital nomads, technopreneurs, creatives and self-starters, lyf gives a keep expertise that transcends the standard. Whether or not it’s a quick go to, an prolonged keep, or a need for a everlasting handle, lyf goals to determine itself because the trusted lodging model that connects visitors with town, its individuals, and its tradition. Fuelled by the worldwide success of the model, lyf will proceed to ship its hallmark, experience-led social dwelling idea to its rising legion of brand name loyalists.
In a world the place journey is not only about reaching a vacation spot however immersing oneself within the heartbeat of a metropolis, lyf stands on the forefront of a brand new period in hospitality. lyf was first created for the next-generation traveller and has gained sturdy traction since its debut with lyf Funan Singapore in 2019. There may be super potential for us to additional scale lyf throughout extra hospitality asset lessons, whether or not as a full-service lodge or resort, particularly with the expansion tempo now we have seen over the 12 months. With greater than 30 lyf properties each in operation and beneath growth, Ascott will carry lyf to much more locations within the 12 months forward, as we work in the direction of our goal of 150 properties with over 30,000 items by 2030. Kevin Goh, Chief Govt Officer for Ascott and CLI Lodging
Travellers’ evolving preferences for distinctive experiences have opened doorways for us to adapt our manufacturers strategically in response to shopper demand throughout completely different geographical markets. Ascott operates with a flex-hybrid mannequin that provides opportunistic agility throughout our serviced residences, co-living properties and resorts. With the flexibility to scale operations throughout our unfold of lodging choices, we’re capable of tailor and improve our manufacturers’ relevance and enchantment in various areas. Our ambition for lyf, alongside our different manufacturers, is to develop horizons, pushing boundaries throughout geographies whereas deepening our native presence in present and new areas, added Goh.
With these eight new lyf properties that whole near 1,500 items, Ascott achieved a signing tempo that has nearly doubled that in 2022. These embrace 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; in addition to an extra property in Shanghai, China. A showcase of lyf’s model presence retreating globally, these properties are scheduled to open over the following 4 years.
The lyf model has captured the eye of the market with its dynamic designs, versatile areas and well-curated programming with the neighborhood at its core. Homeowners and buyers alike have seen the resilience and continued demand for experience-led social dwelling that lyf has been synonymous with, an lodging development that has been made extra pronounced post-pandemic and we imagine is right here to remain. lyf is thus well-positioned to cater to this rising curiosity, availing a model that isn’t simply conversion-friendly for homeowners, but additionally meets the growing wants of travellers who’re searching for the perfect of all worlds the place they can combine privateness with social dwelling, combining an area to work, keep and play. The model’s progress momentum is stronger than ever, and plans are underway to launch throughout further key locations together with that in the UK. Serena Lim, Chief Progress Officer, Ascott
Ascott noticed a report variety of lyf property openings in 2023, nearly doubling that of 2022. These embrace lyf Schönbrunn Vienna in Austria most just lately, that marked the debut of the model in Europe; lyf Dayanta Xi’an in China, lyf Ginza Tokyo in Japan, lyf Chinatown Kuala Lumpur in Malaysia and lyf Malate Manila within the Philippines.
Featured prominently in these properties are intuitively designed communal areas that embrace coworking lounge ‘Join’, gymnasium ‘Burn’, laundrette ‘Wash & Cling’ and social kitchen ‘Bond’. Bringing these areas to life is a collection of programmes which might be curated by every property’s Ambassador of Buzz, the place these activations serve to construct significant visitor engagement, delivering lyf’s hallmark idea of experience-led social dwelling.
In keeping with the model’s progress technique, Adeline Phua has been appointed Managing lyf Companion to steer and propel the following section of growth and progress of lyf, reporting to Serena Lim. As Managing lyf Companion, Adeline directs the strategic progress of the lyf model globally. Adeline has shut to twenty years of world expertise in hospitality technique, planning, growth, funding and asset administration.
About The Ascott Restricted
Since pioneering Asia Pacific’s first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality firm with greater than 940 properties globally. Headquartered in Singapore, Ascott’s presence extends throughout greater than 220 cities in over 40 international locations in Asia Pacific, Central Asia, Europe, the Center East, Africa, and the USA.
Ascott’s diversified lodging choices span serviced residences, co-living properties, resorts and impartial senior dwelling residences, in addition to scholar lodging and rental housing. Its award-winning hospitality manufacturers embrace Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Assortment, The Limitless Assortment, Desire, Fox, Harris, POP!, Vertu and Yello; and it has a model partnership with Domitys. By means of Ascott Star Rewards (ASR), Ascott’s loyalty programme, members get pleasure from unique privileges and gives at collaborating properties.
A completely owned enterprise unit of CapitaLand Funding Restricted, Ascott is a number one vertically-integrated lodging operator. Harnessing its intensive community of third-party homeowners and in-market experience, Ascott grows fee-related earnings via its hospitality administration and funding administration capabilities. Ascott additionally expands its funds beneath administration by rising its sponsored CapitaLand Ascott Belief and personal funds.
Headquartered and listed in Singapore, CapitaLand Funding Restricted (CLI) is a number one international actual property funding supervisor (REIM) with a robust Asia foothold. As at 30 September 2023, CLI had S$133 billion of actual property belongings beneath administration, and S$90 billion of actual property funds beneath administration (FUM) held by way of six listed actual property funding trusts and enterprise trusts, and greater than 30 personal automobiles throughout Asia Pacific, Europe and USA. Its diversified actual property asset lessons cowl retail, workplace, lodging, enterprise parks, industrial, logistics and knowledge centres.
CLI goals to scale its FUM and fee-related earnings via fund administration, lodging administration and its full stack of working capabilities, and preserve efficient capital administration. Because the funding administration arm of CapitaLand Group, CLI has entry to the event capabilities of and pipeline funding alternatives from CapitaLand’s growth arm.
As a accountable firm, CLI locations sustainability on the core of what it does and has dedicated to realize Web Zero carbon emissions for scope 1 and a pair of by 2050. CLI contributes to the environmental and social well-being of the communities the place it operates, because it delivers long-term financial worth to its stakeholders.
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