Investors of Aman Group are injecting nearly $1 billion into the hospitality and lifestyle brand management company to fast-track the group’s expansion of hotels and resorts globally.
Saudi Arabia’s Public Investment Fund (PIF) and Cain International, a privately held investment firm, will plow US$900 million into Aman Group to enhance the existing portfolio, drive the construction of other Aman and Janu destinations in the pipeline, and help fund acquisitions and development of additional sites.
Aman’s current portfolio comprises 34 hotels in 20 countries, with a further nine future hotels and residences projects under construction. The group also has a pipeline of additional destinations in the USA, Japan, Mexico, South Korea, Saudi Arabia and European destinations, among others.
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Arguably the world-leader in ultra-luxury hospitality, Aman says the brand’s value is visible through its market leading premiums for average daily rates.
“This reinforces the value guests place upon the Aman experience, renowned for its unparalleled service, exceptional locations and architecture, privacy, and generosity of space,” Aman said.
Commenting on the investment by PIF and Cain, Vlad Doronin, Chairman and CEO of Aman Group, said: “My long-term strategic vision has been to continue to grow the Aman brand in key markets, all with Aman Branded Residences, as well as creating an ultra-luxury ecosystem with offers the complete Aman lifestyle.”
In the last 12 months, Aman has committed sales for Aman Residences in Tokyo, Miami Beach, New York, Thailand, Mexico (Amanvari Villas), Greece and in Shanghai, China.
“We have set the foundation over the last eight years, celebrating the brand’s DNA while continuing our growth in global cities and remote destinations.
“The investment from PIF and Cain International is a vote of confidence in my vision and the work the team has done over the last eight years, cementing the brand’s evolution and ability to deliver this vision at pace. Together we will deliver considerable growth and maximise the extraordinary potential of Aman,” Doronin said.
PIF’s Deputy Governor and Head of International Investments, Turqi Al-Nowaiser, said “Our investment in Aman Group reflect’s PIF’s belief in the current potential of the hospitality and tourism industry, both internationally and in Saudi Arabia”.
Jonathan Goldstein, CEO and co-founder of Cain International remarked, “As the hospitality landscape continues to evolve, we expect to see a growing desire for travellers and investors alike to prioritise experiences supported by preeminent brands like Aman. This investment represents a unique opportunity to further enhance this portfolio of unrivaled destinations.”