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Ascott expands Lyf brand in Asia

The Ascott Limited (Ascott), has secured contracts to manage its first three properties under its brand- lyf – in its two key markets – China and Singapore.

The new brand lyf signifies a new way of living and collaborating as a community. The 112-unit lyf Wu Tong Island Shenzhen will open in the first half of 2018 while the 120-unit lyf DDA Dalian is scheduled to open by end 2018. The Singapore property lyf Farrer Park Singapore, the biggest of the three lyf properties with 240 units, is slated to open in 2021.

Lee Chee Koon, Ascott’s chief executive officer, said: “With launch of lyf in these two key markets for Ascott, we are gathering momentum to capture this booming social generation. Already accounting for a quarter of Ascott’s customer base, millennials are expected to be the largest spending travel demographic by 2021. China is amongst Ascott’s top customers globally and has the world’s second largest millennial population. We are therefore expecting to see more lyf properties in gateway cities in China as well as another lyf in downtown Singapore. Ascott is also actively looking at other potential markets including Australia, France, Germany, Indonesia, Japan, Malaysia, Thailand and the United Kingdom, as we work towards achieving our target of 10,000 units under the lyf brand globally by 2020.”