INVESTMENT
on the other side , and I think that ’ s been the key to our success .
The other huge success story surrounding Aman over the last five or six years is residential sales . With what we have in the pipeline plus inventory is about US $ 5 billion in real estate offerings . We have sold US $ 2.3 billion over the last 18 months or so , and that ’ s truly a huge component of our success … But you can only do it if you ’ re committed to staying on brand to keep delivering on the value propositions .
Miami residential is sold . Cabo San Lucas is pretty much all sold . Aman residences in Tokyo completely sold out in eight months with huge premiums . That story is very powerful . Bangkok is now becoming active , as well .
H : How many Aman at Sea are under development ? RF : Just one ( with perhaps 50
Rendering of exterior at Aman Beverly Hills
cabins ), and what makes it different is that we are going to run it – it ’ s not a licensing agreement … We are trying to stamp our values , our service proposition , and we are trying to get hotel employees involved in the service delivery . There is this cross-fertilization that could work beautifully .
We must differentiate . The ship is being designed by one of our core
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 .
– ROLAND FASEL
designers . It ’ s the same mentality and focus on the details as the hotels with generosity of space , the ability to have the privacy , etc .
H : How important are New York and Beverly Hills to the growth and strength of the brand ? RF : My biggest market across the globe and across the portfolio is the American market – it ’ s 35 % to 37 %. So , I have always felt that Aman New York – what it will do for brand recognition and how much it will help as a feeder market – will be extraordinary . That ’ s why we must get it right , and I think the same will apply in Los Angeles … These gateway cities will be fundamental to our success and that ’ s why we switched into that strategy . It makes sense commercially . And having a few gateway cities , the income will be even greater than some of the resorts .
H : How long before you ’ re able to recover the investment in New York City ? RF : There were delays , as well as supply chain challenges and inflationary pressure . So , of course , you have a little bit more pressure on delivering those initial ROIs . But the reality is also that I feel we can push some of the rates , while I think our occupancy will not be a challenge . The value proposition in the New York market , based on initial inquiries and market research , will also go through the roof . So , now , coming out , the two may balance out … With the pentup demand in New York , I really
52 hotelsmag . com September 2022