Private investor Cain International and Saudi Arabia's Public Investment Fund have agreed a $900 million investment into Aman Group to support the brand’s global expansion of ultra-luxury hotels and branded residences. The transaction values Aman Group at $3 billion.
Aman Group has 34 hotels across 20 countries, 12 of which include Aman Branded Residences, with nine more hotels and residences projects under construction. A committed pipeline of additional destinations has been secured in countries including the US, Japan, Mexico, South Korea, Saudi Arabia, and across Europe. Affiliates of Aman own or part-own 16 of the 34 hotels, although the ownership interests were not part of this transaction.
Since Vlad Doronin, the owner, chairman and chief executive of Aman Group, acquired the group in 2014, it has invested significantly in managerial talent and integrated professional system upgrades to preserve Aman’s unrivalled offering while increasing operational efficiency and margins, alongside an expansion of the brand with several new developments, said Cain and PIF.
The investment will be used to enhance the existing portfolio, drive the construction pipeline of new Aman and Janu-branded properties, and support the acquisition and development of additional sites.
“As the hospitality landscape continues to evolve, we expect to see a growing desire for travellers and investors alike to prioritise experiences supported by pre-eminent brands like Aman," said Jonathan Goldstein, chief executive and co-founder of Cain International. "This investment represents a unique opportunity to further enhance this portfolio of unrivalled destinations.”
In June, Cain announced Aman as the flagship operator at One Beverly Hills, the 17.5-acre mixed-use urban resort it is developing in Beverly Hills. The firm is also in partnership with Vlad Doronin’s OKO Group on multiple projects in South Florida including two luxury condominium towers in Miami and 830 Brickell, a 725- foot Class-A office tower in the city’s emerging financial district.