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Sunday, February 25, 2024

Aman Group Secures $900m Investment To Accelerate Global Expansion

Amanpuri, ThailandAman Group, the preeminent hospitality and lifestyle brand management company that operates ultra-luxury assets globally, has secured $900million of investment to accelerate its global expansion of ultra-luxury hotels and branded residences, valuing the company at over $3 billion.

Aman is a renowned collection of 34 hotels across 20 countries, 12 of which include Aman Branded Residences, with nine further hotels and residences projects under construction and a committed pipeline of additional destinations in countries including the USA, Japan, Mexico, South Korea, Saudi Arabia, and European destinations, amongst others.Vlad Doronin at Amanjena 2021

Speaking on the PIF and Cain investments, Vlad Doronin, Owner, 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 which offers the complete Aman lifestyle.

Aman Group has secured investments totalling $900million from two strategic partners: The Public Investment Fund (PIF), one of the largest and most diverse sovereign wealth funds in the world; and Cain International (Cain), a privately held investment firm specialising in real estate-backed opportunities led by Cain’s CEO Jonathan Goldstein.

Under Vlad Doronin’s leadership, Aman’s brand proposition and premium quality have evolved to position the business as a world leader in ultra-luxury hospitality and real estate. 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.
Aman has generated $2.4billion in sales of Aman Branded Residences over the last 12 months, including fully committed sales at Aman Residences Tokyo, Japan (2023) and Aman Miami Beach Residences, USA (2024) before reaching the market.

Turqi Al-Nowaiser, Deputy Governor and Head of International Investments Division at PIF, said, “Our investment in Aman Group reflects PIF’s belief in the current potential of the hospitality and tourism industry, both internationally and in Saudi Arabia. Similarly, Aman New York Residences, USA (2022), Aman Nai Lert Bangkok Residences, Thailand (2023), Amanvari Villas, Mexico (2024), Amanzoe Villas, Greece and Amanyangyun Villas, Shanghai, China are securing unprecedented premiums, which reinforces the magnetism of the brand, with an expansive future pipeline of Aman Residences inventory.

Amanyara, Turks & Caicos - aerial viewThe business has invested significantly in leading managerial talent and integrated professional systems to preserve Aman’s unrivalled offering while increasing operational efficiency and margins, alongside the brand’s expansion with several new developments.

“We are excited to be investing in this phenomenal brand and look forward to building upon our longstanding partnership with Vlad and his team,” said Jonathan Goldstein, CEO and co-founder of Cain International. The brand’s value is visible through its market-leading premiums for average daily rates and the unrivalled price per square foot achieved across Aman’s Branded Residences.

The investment will enhance the existing portfolio, drive the Aman and Janu destinations pipeline construction, and support the acquisition and development of additional sites. 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. This investment represents a unique opportunity to enhance this portfolio of unrivalled destinations further.”

“As the hospitality landscape continues to evolve, we expect to see a growing desire for travellers and investors alike to prioritize experiences supported by preeminent brands like Aman. The investment is in line with PIF’s strategy to invest in promising sectors to achieve sustainable, attractive returns in Saudi Arabia and globally.” Aman Real Estate Holdings owns or part-owns 16 of the 34 Aman hotels, although such ownership interests were not part of this transaction.

Written by: Supaporn  Pholrach (Joom)

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