Serviced residence operator Ascott is joining the co-living hospitality space with its latest brand offering, Lyf (pronounced as “life”), targeted at millennials.
Plans are for there to be 10,000 keys carrying the Lyf flag to be up and running by 2020.
Unlike conventional properties, Lyf establishments are run by residents themselves, community managers, city guides and bar keepers, among others, in hopes to bring in a sense of local communal living.
“Going beyond traditional hospitality concepts, Lyf signifies a new way of living and collaborating as a community, connecting guests with fellow travellers and change-makers,” stated Ascott in a press release.
Millennials currently form a quarter of Ascott’s customers with the segment expected to grow exponentially in the coming years.