(07 Oct 2021) Ascott has expanded its lyf portfolio to a total of 17 properties with over 3,000 units in 13 cities and nine countries.
The expanded portfolio includes the newly opened lyf Mid-Town Hangzhou, Ascott’s first lyf-branded co-living property in China.
The company has also secured a management contract for its second lyf property in Thailand, lyf Riverside Bangkok.
In addition, Ascott acquired the first lyf property in Europe, livelyfhere Gambetta Paris, through its private fund Ascott Serviced Residence Global Fund (ASRGF), in June 2021.
To date, Ascott has opened four lyf properties in Singapore, Bangkok, Fukuoka and Hangzhou. Three more are slated to open later this year in Singapore, Xi’an and Shanghai – lyf one-north Singapore, as well as lyf Dayanta Xi’an and lyf Hongqiao Shanghai in China.
Between 2022 and 2025, 10 more lyf properties are slated to open in Bangkok, Beijing, Cebu, Danang, Kuala Lumpur, Manila, Melbourne, Paris, Shanghai and Singapore.
Ms Tan Bee Leng, Ascott’s Managing Director for Brand & Marketing said: “lyf is a hybrid lodging solution that combines the best of serviced residences, hotels and co-living apartments. The concept continues to resonate well with our guests and partners across the world with new signings and property openings on track despite COVID19. It demonstrates that our partners recognise the resilience of Ascott’s lodging products and the value we bring as one of the leading international lodging owner-operators. With the opening of our first lyf property in China, Ascott has opened a total of more than 5,000 units in over 20 properties globally this year. This is more than double the number of units opened for the same period last year.”
lyf debuts in China
The lyf Mid-Town Hangzhou is located in the Gongshu district of the city, near the Grand Canal, a popular UNESCO World Heritage site noted for its historical relics. It is also close to a shopping mall, directly opposite the Hangzhou International Convention and Exhibition Centre and within a quick walk from a new train station that is scheduled to open in Q1 2022 along line 10 of Hangzhou’s metro network.
lyf Mid-Town Hangzhou offers 118 studios and apartments, a social kitchen, co-working and lounge zone, and a self-service laundry room.
Providing a digital experience through the ‘Discover ASR’ mobile app, guests at lyf Mid-Town Hangzhou can access their rooms via a mobile key. Guests can also perform mobile check-in and out, make contactless payments, interact with other guests via the in-app social wall and communicate with lyf Guards.
Second lyf in Thailand
Scheduled to open in 2022, the lyf Riverside Bangkok is located within walking distance of the Charoen Nakhon and Krung Thon Buri BTS Skytrain stations. ICONSIAM, one of Asia’s largest upscale shopping malls, is also a short walk away.
The 71-unit lyf Riverside Bangkok will offer studios, a social kitchen, a semi-outdoor fitness area, a co-working and lounge zone, as well as a self-service laundry room and an outdoor terrace.