Going Social with
Millennial Travellers

Capture the phenomenal growth of this market with insights on their travel behaviour

Co-living brings the young at heart together for some good food and company.

Co-living brings the young at heart together for some good food and company.

Co-living brings the young at heart together for some good food and company.

Millennials are on the move as they explore the world for leisure and business. The growth from this market is phenomenal and their behaviour influences the way the travel industry reinvents itself. How do they make direct bookings and work and play in a sharing economy? How can we capture their attention and secure their loyalty? We take a look at what drives them.

Born to connect

From Airbnb to Uber, millennials around the world are the driving force behind the growth of such peer-to-peer platforms.

42% of millennials say they often use ride-sharing apps when they travel and 35% frequently use sharing economy services for trip accommodation, according to survey results of 18 to 35 year olds from Asia Pacific released by Amadeus earlier this year.

58% also tend to travel with others and 43% with colleagues, according to data released last year from the CWT Connected Traveller Study, a multi-generational survey of more than 1,900 travellers from 16 countries, making more economical sense to use such sharing services.

Co-living allows people from all walks of life to work, live, play and even network together.

Co-living allows people from all walks of life to work, live, play and even network together.

Co-living allows people from all walks of life to work, live, play and even network together.

Care to share?

Within the sharing economy, one of the latest trends to take off is co-living, with communal spaces springing up in major cities over the world from New York City and London to Hong Kong and Beijing.

More than just a roof over one’s head, the appeal of co-living lies in the different experience where the social nature of these spaces encourages people to meet others, network or participate in activities together.

Co-living apartments provide a trendy new option for millennial travellers. It targets their desire for novel and authentic experiences — 27% of those surveyed by Amadeus are most interested in recommendations that expose them to new experiences.

Serviced residence operator The Ascott Limited hopes to meet the needs of this savvy generation of travellers with its new co-living brand, lyf (pronounced “life”) – live your freedom.

lyf properties are aesthetically designed and built to encourage socialising. (Credit: The Ascott Limited)

lyf properties are aesthetically designed and built to encourage socialising. (Credit: The Ascott Limited)

lyf properties are aesthetically designed and built to encourage socialising. (Credit: The Ascott Limited)

Fostering fun

lyf combines the social vibrancy of co-working hubs and comforts of hotels. Designed by millennials for millennials and the millennial-minded, it offers a new way of living for those who want local experiences, opportunities for collaborating and connecting with like-minded travellers and a community to join while living in a new city.

For instance, lyf properties will be managed by lyfguards, millennials who are fellow residents, community managers, local guides or even baristas — a young person who performs multiple roles and who can also organise activities to get in touch with the local creative scene such as workshops with local craftsmen, hackathons with start-up accelerators or innovation talks.

Communal spaces double up as networking areas. (Credit: The Ascott Limited)

Communal spaces double up as networking areas. (Credit: The Ascott Limited)

Communal spaces double up as networking areas. (Credit: The Ascott Limited)

Communal spaces and co-working areas that can double up as areas for networking events or social gatherings are all designed with facilitating interaction in mind, while quirky design elements such as interactive digital art pieces, giant ball pits and hamster wheels keep youthful spirits high.

A shared laundromat and kitchen also allow guests to mingle while ensuite bathrooms provide the luxury of privacy and take care of daily needs.

Much ado about travels

A private room and communal space are the perfect combination of co-living. (Credit: The Ascott Limited)

A private room and communal space are the perfect combination of co-living. (Credit: The Ascott Limited)

A private room and communal space are the perfect combination of co-living. (Credit: The Ascott Limited)

Costly housing markets coupled with the digital nature of jobs may also have contributed to the growth of co-living.

The millennial who is a mobile app creator, a cryptocurrency start-up founder or a freelance programmer is not restricted by a physical office and can move to where the market is right or simply to experience living in another city.

With millennials making up the largest group in the global workforce and increasingly travelling for work, lyf takes advantage of this jet-setting lifestyle. Some of its properties are strategically located in key gateway cities in creative, technological hubs.

A new way of living with authentic experiences and opportunities. (Credit: The Ascott Limited)

A new way of living with authentic experiences and opportunities. (Credit: The Ascott Limited)

A new way of living with authentic experiences and opportunities. (Credit: The Ascott Limited)

New home, different life

The first lyf property opening this December is the 112-unit lyf Wutong Island Shenzhen, which is home to multinational technology firms, media and creative companies.

Ascott targets to have 10,000 units of the lyf brand across key markets in Asia and Europe by 2020.

Opening next year is the 279-unit lyf Funan Singapore in the heart of Singapore’s Civic and Cultural District.

Frequent lyf travellers will also be able to take advantage of Ascott’s loyalty programme that will be launching in December to enjoy exclusive benefits and rewards.

This article is brought to you by The Ascott Limited.