The investment will be used to drive the construction of pipeline Aman and Janu properties
Hospitality and lifestyle brand Aman Group has secured US$900million of investment to accelerate its global expansion of luxury hotels and branded residences, valuing the company more than US$3billion.
This investment cements the success of owner, chairman and CEO, Vlad Doronin’s vision, strategy and growth of Aman Group during his eight years at the helm.
Aman has secured investments 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, a privately held investment firm specialising in real estate-backed opportunities.
The investment will be used to enhance the existing portfolio, drive the construction of the pipeline of Aman and Janu destinations, as well as support the acquisition and development of additional sites.
Under Vlad Doronin’s leadership, Aman’s brand proposition and premium quality has evolved to position the business as a world-leader in ultra-luxury hospitality and real-estate. The 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 expansion of the brand with several new developments. Separately, Aman Real Estate Holdings today owns or part-owns 16 of the 34 Aman hotels, although such ownership interests were not part of this transaction.
The brand’s value is visible through its market leading premiums for average daily rates, as well as the unrivalled price per square foot achieved across Aman’s Branded Residences. This reinforces the value guests place upon the Aman experience, renowned for its unparalleled service, exceptional locations and architecture, privacy, and generosity of space.
Speaking about the PIF and Cain investments, Aman Group owner, chairman and CEO Vlad Doronin 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. 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.”
PIF deputy governor and head of international investments division Turqi Al-Nowaiser commented: “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.The investment is in line with PIF’s strategy to invest in promising sectors to achieve sustainable, attractive returns in Saudi Arabia and globally.”
Cain International and CEO and co- founder Jonathan Goldstein added: “We are excited to be investing in this phenomenal brand and look forward to building upon our longstanding partnership with Vlad and his team. 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 unrivalled destinations.”
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 USA, Japan, Mexico, South Korea, Saudi Arabia, and European destinations, amongst others.
For more information, visit www.aman.com