Here is how millennials are changing the way we travel
Blurring the lines between apartments and hotels, coliving spaces are set to be the next big thing in travel — especially among millennials. A veteran in the hospitality scene tells us why.
- March 2020
As millennials seek out more authentic and shared travel experiences, coliving apartments with their seamless blend of communal and private spaces are gaining popularity. Mindy Teo of lyf by The Ascott Limited shares her insights into the trend.
In your opinion, what are the distinguishing traits of Asian millennial travellers?
Millennials value the pursuit of life experiences over the ownership of assets and are incredibly avid travellers. What’s more, 78 percent intentionally carve out personal time on a business trip and they increasingly demand the freedom to shift their base of work.
How does coliving address millennials’ needs?
Coliving properties are convenient — they provide short-term solutions to residents, often offering shorter and more flexible lease terms without the need to deal with agents or landlords. More importantly, it’s the emphasis on community building that differentiates coliving from traditional shared residences. The blend of private and communal spaces makes it effortless for travellers to bond with like-minded people.
The Ascott will be opening lyf Sukhumvit 8 in Bangkok soon. What factors are taken into consideration when choosing the location of a lyf property?
It has to be in a key gateway city with a vibrant local culture, strong tech and start-up ecosystem, a large millennial population and good connectivity.
READ MORE: The 5 biggest myths about coliving
What can travellers expect from lyf Sukhumvit 8?
A fun and energetic environment that captures the city’s spontaneous personality and rich culture. The trendy neighbourhood location is great for exploring the nearby hipster cafés and must-visits like the Artbox night market. Our Ambassador of Buzz will also organise events such as neighbourhood walks and cooking classes for a more memorable travel experience.