The Crown Building in New York City , now home to the Aman New York City
INVESTMENT
Aman gets $ 900M DEVELOPMENT INFUSION
SAUDI FUND AND BRITISH PE FIRM INVEST IN ULTRA-LUXURY BRAND WITH AN EYE ON GREATER EXPANSION AND GROWTH OF LIFESTYLE BRAND , JANU .
By JEFF WEINSTEIN , EDITOR IN CHIEF
Just as Aman Group made a big splash in August with the opening of its hotel and residences in New York City with rooms reportedly starting at US $ 4,000 a night and the penthouse residence selling for almost US $ 75 million , it made even bigger news around the same time announcing a US $ 900 million investment from The Public Investment Fund , a Saudi sovereign wealth fund , and Londonbased private equity firm Cain International . The money will be used to drive the growth of both the Aman brand and fledgling luxury lifestyle brand , Janu , as well as enhance existing properties .
The infusion values Aman Group , with 34 hotels and 12 branded residences , at more than US $ 3 billion . Aman said this transaction does not include its ownership interests in any part of its portfolio . Nine further projects are under construction and Aman , now under control of Chairman and CEO Vlad Doronin for eight years , has a committed pipeline of additional destinations around the world . Earlier this spring , Aman signed a deal to operate in Beverly Hills , California , for developers Alagem Capital and Cain International at the high-profile , 17.5-acre One Beverly Hills development .
“ The aspiration is to reach 45 to
48 hotels within the next few years , and it is still very much where we feel we can deliver ,” Aman COO Roland Fasel told HOTELS in July . He says Aman believes it is still underexposed in Italy and is very close on a deal or two there . He adds that it would be beautiful to add properties in Africa and South America and move in further south of the Aman in Mexico City .
Aman has generated US $ 2.4 billion in sales of Aman Branded Residences over the last 12 months , including fully committed sales at Aman Residences Tokyo , Japan ( 2023 ) and Aman Miami Beach Residences , Florida , ( 2024 ) prior to reaching the market . Similarly , Aman
40 hotelsmag . com October 2022