The digital nomads, a new breed of roaming traveler and gig economy worker who views the world as their oyster, is generating a new opportunity for developers — hotel hybrids with co-living and co-working spaces available for short- and long-term stays. Expect more developers and brands to join the fray.
Among the innovators is Ovolo Hotels, whose Mojo Nomad concept in Hong Kong opened late last year in a refurbished conventional hotel property and offers beds for as little as US$30 a night. Guests can buy a drink at the bar and cook a meal in the communal kitchen. Most important, they can set up in the co-working space and mingle with peers.
“We saw a gap in the market — a need for accommodations that blended affordability, functionality and design,’’ says Tim Alpe, chief operating officer of Hong Kong-based Ovolo. “People say they had their best time in college. There’s no reason that has to finish.” The company plans to launch a second Hong Kong location this year and is eyeing development in Australia, Southeast Asia and China.
Singapore-based serviced-apartment operator Ascott is launching its co-living, co-working format, Lyf. It secured five properties in China, Singapore and the Philippines and plans to open its first Lyf hotel in Shenzhen, China, this year. Ascott is planning 50 Lyf properties with 10,000 rooms by 2020, and is eyeing European markets such as France and the U.K., according to Mindy Teo, vice president for brand and marketing and digital innovation.
Each property will include communal spaces that can be used for workshops or social gatherings. Laundromats and kitchens are expected to become social hubs. A survey of Ascott’s millennial targets showed that although guests are willing to share social spaces such as the kitchen, they prefer private bathrooms — so all the apartment units are designed with ensuite bathroom.
In Austria, Vienna House is introducing Vienna House Revo, which brings together guest rooms, studios, friends and family rooms with modern design and laid-back common areas. The first project will open in Munich, followed by Bangkok and Hamburg. Construction is scheduled to begin this year with an aim to conclude up to three projects a year.
The on-site Revo team coordinates deliveries and helps guests stock their fridge cooperating with local suppliers and offers e-bikes, e-car sharing and vehicle charging stations.
And in New York City, The Assemblage provides co-working, co-living and social spaces for individuals seeking connections. Two of the three city locations are open, with a co-working space set to open on Park Avenue South. The Assemblage was founded by Rodrigo Niño, CEO of Prodigy Network, which has raised US$165 million via crowdfunding.