Worldwide: The Ascott Limited, a lodging business owned by CapitaLand Investment, has signed eight global lyf properties and has expanded into city hotels and resorts.
Originally a coliving concept, the lyf brand has broadened to offer 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.
The eight additions in 2024 total close to 1,500 units. The pipeline features 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.
“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,” said Kevin Goh, CEO for Ascott and CLI Lodging.
“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,” he added.
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.”
Adeline Phua has been appointed managing lyf partner to lead the next phase of development and growth of lyf, reporting to Lim. Phua will oversee the growth of the lyf brand globally and brings close to 20 years of global experience in hospitality strategy, planning, development, investment and asset management to her role.
