Ascott Inks Eight New Signings

• Plans for lyf to develop European footprint with enlargement into new cities in UK and Germany
• lyf expands model presence in Singapore, bringing complete tally to 4 lyf properties within the nation
• Extends attain into metropolis motels 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), in the present day introduced the enlargement of its award-winning lyf (pronounced ‘life’) model with eight new property signings, increasing into new resort and metropolis locations akin 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 ‘reside your freedom’) is using excessive on the rising demand for experience-led social residing. It has now broadened right into a multifaceted hospitality expertise with versatile typologies, starting from co-living lodging and metropolis motels to full-service resorts. The model is presently current in 21 cities the world over, with over 5,500 models 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 traditional. Whether or not it’s a brief go to, an prolonged keep, or a need for a everlasting handle, lyf goals to ascertain itself because the trusted lodging model that connects company 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 residing 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 robust traction since its debut with lyf Funan Singapore in 2019. There’s super potential for us to additional scale lyf throughout extra hospitality asset courses, whether or not as a full-service lodge or resort, particularly with the expansion tempo we have now 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 models by 2030. Kevin Goh, Chief Government 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 totally different geographical markets. Ascott operates with a flex-hybrid mannequin that offers opportunistic agility throughout our serviced residences, co-living properties and motels. With the power to scale operations throughout our unfold of lodging choices, we’re capable of tailor and improve our manufacturers’ relevance and enchantment in various places. 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 places, added Goh.

With these eight new lyf properties that complete near 1,500 models, Ascott achieved a signing tempo that has virtually doubled that in 2022. These embody 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 withdrawing globally, these properties are scheduled to open over the subsequent 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 traders alike have seen the resilience and continued demand for experience-led social residing 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’s not simply conversion-friendly for homeowners, but in addition meets the growing wants of travellers who’re looking for the very best of all worlds the place they can combine privateness with social residing, combining an area to work, keep and play. The model’s development 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 file variety of lyf property openings in 2023, virtually doubling that of 2022. These embody lyf Schönbrunn Vienna in Austria most 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 embody coworking lounge ‘Join’, gymnasium ‘Burn’, laundrette ‘Wash & Hold’ and social kitchen ‘Bond’. Bringing these areas to life is a set of programmes which are 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 residing.

In keeping with the model’s development technique, Adeline Phua has been appointed Managing lyf Companion to steer and propel the subsequent section of growth and development of lyf, reporting to Serena Lim. As Managing lyf Companion, Adeline directs the strategic development 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 nations in Asia Pacific, Central Asia, Europe, the Center East, Africa, and the USA.

Ascott’s diversified lodging choices span serviced residences, co-living properties, motels and impartial senior residing flats, in addition to scholar lodging and rental housing. Its award-winning hospitality manufacturers embody 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. Via Ascott Star Rewards (ASR), Ascott’s loyalty programme, members take pleasure in unique privileges and gives at taking part properties.

An entirely 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 by means of its hospitality administration and funding administration capabilities. Ascott additionally expands its funds beneath administration by rising its sponsored CapitaLand Ascott Belief and personal funds.

For extra info on Ascott’s business file of 40 years and its sustainability programme, please go to www.discoverasr.com/the-ascott-limited. Join with us on Fb, Instagram, TikTok and LinkedIn.

About CapitaLand Funding Restricted

Go to http://www.capitalandinvest.com/ for extra info.

Joan Tan
Assistant Vice President, Company Communications
+65 6713 2864
The Ascott Restricted