Aman Group has secured US$900 million of investment to accelerate the global expansion of its luxury hotels and branded residences.
Saudi Arabia’s Public Investment Fund (PIF) and London-based real estate investment fund Cain International are providing the investment, which the group said will bring the value of the company to over US$3 billion.
The funds will be used to construct the pipeline of Aman and Janu properties and support the acquisition and development of additional sites.
Aman was founded in 1988 and currently has 34 hotels across 20 countries, 12 of which include branded residences. There are a further nine projects under construction, including three properties under the Janu brand in Tokyo, Saudi Arabia and Montenegro.
The group is focusing on its branded residences, having generated US$2.4 billion in sales of Aman Branded Residences over the last 12 months – this includes sales at its forthcoming properties in Tokyo and Miami before they open in 2023 and 2024 respectively.
The group said that the investment brings the value of the company to over US$3 billion.
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. 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.”
The group recently opened its first city centre hotel in the United States, located in New York.
