Also, Ascott’s coliving brand lyf, unveils suite of curated local experiences for guests.
CapitaLand Ascott Trust (CLAS) has partnered with the International Finance Corporation (IFC) to launch IFC’s first sustainability-linked bond in the hospitality sector globally. IFC, a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets, is the sole subscriber for the JPY16.5 billion (about S$157.4 million) sustainability-linked bond.
The sustainability-linked bond is being issued as part of CLAS’ S$2 billion Multicurrency Debt Issuance Programme with a fixed coupon rate of 1.05% per annum and is paid semi-annually in arrears. The seven-year bond will mature in November 2029.
Proceeds from the bond will be used to refinance CLAS’ existing borrowings and to further decarbonise three of CLAS’ serviced residences in Southeast Asia, namely Ascott Jakarta in Indonesia as well as Ascott Makati and Somerset Millennium Makati in the Philippines. The three serviced residences are expected to achieve a 40.5% reduction in electricity consumption by 31 December 2028. The projects must also obtain IFC’s Excellence in Design for Greater Efficiencies (EDGE) certification within the same timeframe.
Ms Serena Teo, Chief Executive Officer of CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd. (the Managers of CLAS) said: “We place sustainability at the core of everything we do. Dovetailing our financing efforts with our environmental, social and governance efforts further affirms our commitment towards responsible growth. To date, CLAS has raised about S$450 million through sustainable financing. CLAS continues to collaborate with like-minded stakeholders in the financing and investment community to fight climate change through our collective efforts. Currently, 35% of CLAS’ portfolio is green-certified and we remain on track to green 50% of our portfolio by 2025 and our entire portfolio by 2030.”
Ms Kim-See Lim, IFC’s Regional Director for East Asia and the Pacific, said: “We are delighted to support CapitaLand Ascott Trust, Asia-Pacific’s largest lodging trust, in its efforts to help address the climate crisis in the region through IFC’s first sustainability-linked bond in the hospitality sector. Our investment will support the decarbonisation of a portfolio of energy-intensive buildings, while also ensuring that the energy reduction is specifically aligned with Net Zero targets.”
Ascott’s coliving brand lyf unveils suite of curated local experiences for guests
Also, Ascott unveiled a brand new series of curated themed packages for its coliving brand, lyf, as the group continues to ride on the momentum of global travel recovery. The first-of-its-kind, #lyfgoeslocal Worldwide Experiences is a multi-city campaign that will be launched across key cities in Australia, Thailand, Japan, Malaysia and Singapore. From kombucha-making wellness workshop in Bangkok, ultimate kimono-styling session in Fukuoka, to an epicurean journey through the cultural spots in Kuala Lumpur, #lyfgoeslocal will build on lyf’s unique brand proposition of authenticity and connected experiences. Guests will be plugged into the community, with the opportunity to immerse themselves in the local culture via specially organised experiential programmes and events.
A unique lodging provider in a class of its own, lyf aims to redefine the coliving experience, enabling guests to live their freedom curiously and creatively in a dynamic environment. As part of the #lyfgoeslocal campaign, guests can look forward to exciting social programmes and events that will spark the exchange of ideas and foster new connections. Over a period of six months, participating properties will introduce authentically local stay experiences for guests, by incorporating design, culture, attractions and partnerships from their local neighbourhoods right into lyf.
Ms Tan Bee Leng, Ascott’s Managing Director for Brand & Marketing, said: “In a post-pandemic world where the intersection between work and play has burgeoned, remote working and the digital nomad lifestyle have seen a surge in popularity. With a growing demand for coliving spaces where guests value the people they meet and the connections they build, we see an enormous opportunity to ride on trends in the travel and lodging space. lyf is designed for precisely that, bringing a unique, hybrid lodging solution that combines the best of hotels, coliving spaces and serviced apartments, to next-generation travellers, technopreneurs, creatives and self-starters.”
“Since its inception in 2019, lyf has expanded to 21 properties around the world, with 13 currently under development. We continue to see strong momentum and potential for the lyf brand in a post Covid era. On the back of recent successful openings in key gateway cities such as Bangkok, we are working towards expanding into a 150-property portfolio by 2030,” added Ms Tan.
The five participating lyf properties – lyf Collingwood Melbourne, Australia, lyf Sukhumvit 8 Bangkok, Thailand, lyf Tenjin Fukuoka, Japan, lyf one-north Singapore and the soon-to-open lyf Raja Chulan Kuala Lumpur, Malaysia – will each focus on a signature core brand pillar: art, wellness, fashion, food, and technology.
lyf Collingwood Melbourne, Australia – Art
Tapping on the growing appeal of the coliving concept to the next-generation travellers, the lyf brand was introduced in the Victorian capital of Melbourne in May this year. Explore the thriving local arts scene in Melbourne, a city that prides itself on being home to the very best of art and design. From 1 November to 31 December 2022, lyf Collingwood Melbourne will celebrate the local Collingwood community and the creative world that drives it. Guests of the property can enjoy creative workshops including pottery sessions and private art gallery tours with behind-the-scenes access.
lyf Sukhumvit 8 Bangkok, Thailand – Wellness
Seeking to recreate the experience and comfort of home for guests wherever they go, lyf Sukhumvit 8 Bangkok will drive the wellness pillar, centred on an indulgence in self-care. From 1 December 2022 to 31 January 2023, guests can embark on their wellness getaway with activities such as morning yoga at the property’s rooftop and afternoon walks at the Benjakitti Forest Park, kombucha-making workshop as well as farm-to-table breakfast experiences in collaboration with local partners. The wellness journey begins at check-in, with a complimentary welcome drink (cucumber mint lemonade), snack and sustainable gift (bamboo cutlery).
lyf Tenjin Fukuoka, Japan – Fashion
Throughout history, fashion has been one of the greatest forms of self-expression, enabling individuals to feel empowered in the clothes they feel the most comfortable in. As a young, disruptive brand, lyf celebrates the thrill of self-expression alongside the latest fashion trends and happenings. Explore Fukuoka’s fashion in style at lyf Tenjin Fukuoka, with the ultimate kimono experience. Together with kimono partner My-you no yakata, officially sponsored by Fukuoka Convention & Visitors Bureau, lyf Tenjin Fukuoka will offer guests kimono rental, professional hair styling and a visit to the city for up to three hours as part of their stay experience from 1 January to 28 February 2023.
lyf Raja Chulan Kuala Lumpur, Malaysia – Food
Food has a unique way of bringing people together, enabling individuals to connect, learn about new cultures, and celebrate with one another as they partake in this shared lyf experience. As a food paradise and one of the world’s premier culinary hotspots, lyf Raja Chulan Kuala Lumpur (slated to open in December 2022) will spotlight the rich heritage and culture of Malaysian food. From 1 February to 31 March 2023, lyf will partner with local comedy production company WEARELOL.ASIA, as the comedy kings and queens of Malaysia bring guests on a dedicated epicurean journey through the cultural spots in Kuala Lumpur.
lyf one-north Singapore – Technology
Technology is a key element across the lyf brand, as we leverage next-generation innovations to elevate living experiences for our guests and outdo what a home provides. As part of the lyf innovation lab, lyf one-north Singapore will debut Augmented Reality (AR) experiences throughout the property to gamify the stay experience for guests who stay over the period 1 March to 30 April 2023. Guests will also stand a chance to win game points, which can be converted into Ascott Star Rewards (ASR) points.
True to its core focus on building a community that shares, lyf will also run a social media campaign in addition to the local activations across the selected properties. Guests will be encouraged to share pictures, videos and insights of their favourite haunts around lyf neighbourhoods, with the hashtag #lyfgoeslocal to grow a greater pool of local insights, accessible by all guests. Ascott Star Rewards (ASR) members will stand a chance to win up to two million ASR points, with two winners selected each month.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
