Ascott continues to expand lyfits co-living brand. This millenials' version of its urban residences, first appearing in Singapore in 2019, opened a new establishment in Bangkok at the end of July, lyf Sukhumvit 8 Bangkok, a residence located in one of the city's most fashionable shopping centres and comprising 196 flats.
The lyf, hybrid hosting solutionThe Funan Singapore lyf, which oscillates between hotel residences, hotels and shared flats, seems to have found its clientele, as the Funan Singapore lyf posted an occupancy rate of 86 % from April to June 2020. " We have strong demand for our co-living brand, which is aimed primarily at millennials looking for flexibility, value and enriching community experiences. It is designed for long-stay customers, while offering the possibility of staying for a few days. "said Kevin Goh, CEO of Ascott.
This second opening in Bangkok is the first of many. With two new lyfs expected to open in Singapore next year, Ascott has announced the signing of six projects. Between now and 2024, new residences will appear in Melbourne, Australia, as well as Beijing, Hangzhou, Shanghai and Xi'an in China, and Manila in the Philippines. Also on the list of future developments are Kuala Lumpur in Malaysia and Fukuoka in Japan in 2021, and Cebu in the Philippines in 2022.
At the same time, Ascott is looking for opportunities in other Asian countries such as South Korea, Indonesia and Vietnam. But Europe could also see the emergence of this new conceptThe Ascott group is well established in France with its Citadines brand.
