The Ascott Limited has entered into an agreement to buy a property in Paris, its first and flagship lyf property in Europe.
The lyf Gambetta Paris is set to open in 2023 will have 139 units with double and twin rooms, studios with kitchens, and paired rooms with private bathrooms and a common kitchen.
Other social facilities and spaces within the property include a co-working and lounge zone, a social gym and a bar.
Guests will be able to use a mobile app to access their apartments, check in and out, make contactless payments and interact with other guests via an in-app social wall.
Ngor Houai Lee, Ascott’s Managing Director for Europe, said: “The signing of the first lyf residence in Paris marks a key milestone in the development of our brand dedicated to co-living in Europe.
“We see strong potential for expansion in cities with a growing community of startups like Paris. lyf Gambetta Paris will offer travellers a new dynamic living, working and leisure experience where they can connect and enjoy private and collaborative spaces.”
Ascott plans to open 17 lyf properties in Australia, China, France, Japan, Malaysia, Philippines, Singapore, Thailand and Vietnam by 2025 and expand with new projects in Europe.
Meanwhile, Ascott has opened Citadines South Vienna, its first franchise property in Austria.
Owned by c-view, a project operating company specialising in hospitality commercial real estate, the new property is in the south of the city and was constructed with a focus on sustainability.
The Citadines South Vienna combines hotel services, such as breakfast service, laundry, housekeeping and parking, with apartment accommodation.
There are 48 modern and stylish studios, one- and two- bedroom apartments, some with their own private balconies.
All units come with fully-equipped kitchens, underfloor heating and air conditioning, as well as flat-screen televisions.
The property has a welcome lounge where guests can play pool, borrow a book from the library or grab a bite to eat from the snack corner. The business corner features charging stations, a printer, a photocopier and a scanner.
Guests also have access to a fitness room with a range of exercise equipment.
Rates start from €78 per night for a studio for two people.