Opened on December 19, 2024, lyf Shibuya Tokyo is a facility that will have major implications for the real estate industry. Managed by The Ascott Limited, a global hospitality group operating in more than 230 cities in 40 countries around the world, the hotel is more than just a lodging facility; it offers a new form of community that connects people to people and people to the city. As someone in the real estate industry, I would like to discuss the value of this facility and its implications for future real estate development.
Overview of lf Shibuya Tokyo
lf Shibuya Tokyo is located in a prime location, about a 7-minute walk from Shibuya Station and across the street from Shibuya PARCO. It has a total of 200 guest rooms and offers five types of rooms to meet a variety of needs, ranging from rooms for one person to rooms for four people suitable for families and groups.
The room types are as follows
- One of a Kind: Studio double (shower only)
- One of a Kind Plus: Studio Double + (with bathtub)
- Side by Side: Studio Twin
- All Together: Quad
- Two of a Kind: Two Bedroom
Rooms are functionally designed to make efficient use of limited space, such as under-bed storage for suitcases and safety deposit boxes.
Space design that encourages community building
One of the most distinctive features of lyf Shibuya Tokyo is the extensive social space that promotes community building. The following unique shared facilities have been established within the building:
- CONNECT: functions as a co-working lounge, equipped with Wi-Fi and desks with power outlets
- BOND: A shared kitchen equipped with utensils, dishes, and induction stove for simple cooking.
- BURN: A 24-hour gym with running machines, yoga mats, and a ping-pong table.
- WASH & HANG: Laundry room
- COLLAB: Meeting space
These spaces are designed to embody the concept of "A New Way to Belong" and provide an experience that connects people to people and people to community.
Implications for the Real Estate Industry
There are a wide range of lessons that those of us in the real estate industry can learn from the case of lyf Shibuya Tokyo.
1. human resource-oriented facility management
At lyf Shibuya Tokyo, community managers called "Ambassadors of Buzz" facilitate connections between guests and the community through event planning and execution. 2.
2. functional redefinition of space
In conventional hotels, the emphasis tends to be on the size of the rooms and the luxury of the facilities. However, lyf creates new value by designing limited guest room space to be functional while enhancing shared space.
3. creating community value
llyf Shibuya Tokyo's #ShibuyaDive project is an attempt to bring guests and the community together. From this initiative, we can learn that real estate is not just a "place" but can be a platform that contributes to the formation and development of communities.
4. consideration for sustainability
The artwork installed in the building, created by reusing discarded flip-flops, expresses the company's concern for the environment. This perspective on sustainability will become even more important in the development and management of real estate in the future.
Application to Real Estate Services for Ultra High Net Worth Individuals
INA&Associates K.K. mainly works with ultra-high-net-worth individuals, and the case of lyf Shibuya Tokyo has many implications for real estate services for high-net-worth individuals.
Of particular note is the concept of "providing a slightly better quality of everyday life, not extraordinary. Even super-wealthy clients are not simply looking for luxurious spaces. It is the living space that can realize a "high quality daily life" with small luxuries and pleasures added to daily life that has true value.
I also feel that the philosophy of "Live Your Freedom" that lyf Shibuya Tokyo places importance on represents the essence of the real estate services we should provide. How can we provide space and experiences that allow our clients to truly live their lives in their own way? I believe that this will be the core of the real estate business in the future.
In Closing
lf Shibuya Tokyo brings a new perspective to the real estate industry as a place that offers an "experience" that goes beyond a mere hotel. In light of my management philosophy that "we should strive to make everyone involved in our business happy," this type of facility has many implications.
The real estate industry has a mission to enrich people's lives not only by providing "places" but also through the "experiences" and "connections" that are created there. We believe that "investment in human resources" and "creation of experiential value" from a long-term perspective, rather than the pursuit of short-term profit, will be the core of the real estate business in the future.
We at INA & Associates, Inc. will continue to focus on human capital and take on the challenge of creating value that goes beyond the mere sale, purchase, and management of real estate. We will continue to provide real estate services that bring true wealth to everyone involved.
