The investment comes courtesy of two strategic partners of the group, The Public Investment Fund (PIF) and Cain International. The move has increased Aman Group’s value to $3 billion and comes as part of its global expansion plans.
The $900 million investment will serve to finance the growth of the group’s existing portfolio, the construction of new Aman and Janu destinations, and support the acquisition and development of new sites.
Aman Group’s portfolio currently contains 34 hotels in 20 countries, 12 of which are Aman branded Residences. 9 further hotels and residences are in the construction pipeline and new projected destinations include USA, Japan, Mexico, South Korea, Saudi Arabia and certain European countries.
Founded in 1988, the group has evolved over the last 8 years under the leadership of Owner, Chairman & CEO Vlad Doronin. Aman Real Estate Holdings owns or part-owns 16 of the group’s hotels. However, these ownership interests were not involved in the transaction.
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.
Turqi Al-Nowaiser, Deputy Governor & Head of International Investments Division at PIF
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.
Jonathan Goldstein, Co-Founder & CEO of Cain International
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 8 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 8 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.
Vlad Doronin, Owner, Chairman & CEO of Aman Group