Friday 29 March 2024
 
»
 
»
BACKING LUXURY HOTELS BRAND

Saudi PIF, Cain invest $900m in Aman Group

DUBAI, August 16, 2022

Saud Arabia's Public Investment Fund (PIF) and London-based real estate investment firm Cain International together have invested $900 million in Aman Group, a luxury hospitality firm.
 
The investment will support the brand’s global expansion of ultra-luxury hotels and branded residences. The transaction values Aman Group at $3 billion, said Cain.
 
Aman Group comprises a collection of 34 hotels across 20 countries, 12 of which include Aman Branded Residences, with nine further hotels and residences projects currently under construction. 
 
A committed pipeline of additional destinations has been secured in countries including the United States, Japan, Mexico, South Korea, Saudi Arabia, and across Europe. Affiliates of Aman own or part-own 16 of the 34 hotels, although such ownership interests were not part of this transaction.
 
Since Vlad Doronin, Owner, Chairman and CEO of Aman Group, acquired the group in 2014, the business has invested significantly in managerial talent and integrated professional system upgrades to preserve Aman’s offering while increasing operational efficiency and margins, alongside an expansion of the brand with several new developments.
 
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, the statement said.
 
“We are excited to be investing in this phenomenal brand and look forward to building upon our longstanding partnership with Vlad and his team,” said Jonathan Goldstein, CEO and co- founder of Cain International. “As the hospitality landscape continues to evolve, we expect to see a growing desire for travellers and investors alike to prioritize experiences supported by preeminent brands like Aman. 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. - TradeArabia News Service



Tags:

More Travel, Tourism & Hospitality Stories

calendarCalendar of Events

Ads