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Aman Group secures USD 900 mn investment, ET TravelWorld News, ET TravelWorld

Picture used for representational purposes only.

Aman Group has secured USD 900 million of investment to accelerate its global expansion of ultra-luxury hotels and branded residences, valuing the company at over USD 3 billion.

The investment comes from Saudi Arabia’s Public Investment Fund (PIF) and London-based Cain International (Cain).

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, the group informed in an official statement.

“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 that 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.” said Vlad Doronin, Owner, Chairman and CEO of Aman Group, on the PIF and Cain investments.

Founded in 1988, Aman is a renowned collection of 34 hotels across 20 countries, 12 of which include Aman Branded Residences, with nine more 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, among others.

The PIF and Cain said, in separate announcements, the investment would support Aman Group’s “global expansion of ultra-luxury hotels and branded residences.” Cain said the funds would also be used to enhance existing properties and support the acquisition and development of new locations. Aman Group has 34 hotels in 20 countries, including in Saudi Arabia and the US

Separately, Aman Real Estate Holdings owns or part-owns 16 of the 34 Aman hotels, although such ownership interests were not part of this transaction.Over the last year, Aman has generated USD 2.4 billion in sales of Aman Branded Residences, including fully committed sales at Aman Residences Tokyo, Japan (2023) and Aman Miami Beach Residences, USA (2024) prior to reaching the market.

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 reinforce the magnetism of the brand, with an expansive future pipeline of Aman Residences inventory, the group shared.

“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,” said Turqi Al-Nowaiser, Deputy Governor and Head of International Investments Division at PIF.

“As the hospitality landscape continues to evolve, we expect to see a growing desire for travellers and investors alike to prioritise experiences supported by prominent brands like Aman. This investment represents a unique opportunity to further enhance this portfolio of unrivalled destinations, ”said Jonathan Goldstein, CEO and Co-Founder of Cain International.

The group recently opened its first city centre hotel in the United States, located in New York.

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