: Aimed at providing the experience of local citizens to travellers, The Ascott Ltd., a wholly owned serviced residence business unit of CapitaLand, has unveiled its new brand Lyf. The new brand is designed for travellers who wish to experience the destinations as local citizens, a company press release said. Lyf signifies new way of living and collaborating as a community, connecting with other fellow travellers. "Lyf is a unique accommodation tailored for this demographic, including entrepreneurs, start-ups and individuals from music, fashion (industry)", The Ascott Ltd., Chief Executive Officer Lee Chee Koon said. "With the rising trend of co-living and co-working, Ascott aims to have 10,000 units under the Lyf brand globally by 2020", he said. As part of expanding the brand, Lee said, Lyf marks another milestone in Ascott's innovation journey.
The company is on the lookout for sites in key cities for setting up Lyf brand under both investment and management contracts. "As we scale upto achieve our global target of 80,000 units by 2020 through Lyf and other brands, we will continue to test new concepts to seize market opportunities", he said.
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