PIF and Cain inject $900m into Aman Group

Amanpuri, Thailand

Aman Group, the preeminent hospitality and lifestyle brand management company that operates ultra-luxury assets globally, has secured $900 million of investment to accelerate its global expansion of ultra-luxury hotels and branded residences, valuing the company over $3billion.

The investment has been secured from two strategic partners: Saudi Arabia’s Public Investment Fund (PIF), one of the largest and most diverse sovereign wealth funds in the world; and Cain International (Cain), a privately held investment firm specialising in real estate-backed opportunities led by Cain’s CEO Jonathan Goldstein.

Turqi Al-Nowaiser, Deputy Governor and Head of International Investments Division at PIF, said: “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.”

Aman Group Owner, Chairman and CEO, Vlad Doronin, said: “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 which offers the complete Aman lifestyle. We have set the foundation over the last eight 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 eight 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.”

The investment will be used to enhance Aman Group’s existing portfolio, drive the construction of the pipeline of Aman and Janu destinations, as well as support the acquisition and development of additional sites.

Aman is a renowned collection of 34 hotels across 20 countries, 12 of which include Aman Branded Residences, with nine further hotels and residences projects under construction and a committed pipeline of additional destinations in countries including USA, Japan, Mexico, South Korea, Saudi Arabia, and European destinations, amongst others.

Under Vlad Doronin’s leadership, Aman’s brand proposition and premium quality has evolved to position the business as a world-leader in ultra-luxury hospitality and real-estate. The business has invested significantly in leading managerial talent and integrated professional systems to preserve Aman’s unrivalled offering while increasing operational efficiency and margins, alongside expansion of the brand with several new developments. Separately, Aman Real Estate Holdings today owns or part-owns 16 of the 34 Aman hotels, although such ownership interests were not part of this transaction.

The brand’s value is visible through its market leading premiums for average daily rates, as well as the unrivalled price per square foot achieved across Aman’s Branded Residences. This reinforces the value guests place upon the Aman experience, renowned for its unparalleled service, exceptional locations and architecture, privacy, and generosity of space.

Aman has generated $2.4billion 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, USA (2024) prior to reaching the market. Similarly, Aman New York Residences, USA (2022), Aman Nai Lert Bangkok Residences, Thailand (2023), Amanvari Villas, Mexico (2024) Amanzoe Villas, Greece and Amanyangyun Villas, Shanghai, China are securing unprecedented premiums which reinforces the magnetism of the brand, with an expansive future pipeline of Aman Residences inventory.

In the foreseeable future, Aman Group plans to open three new resorts in Al Ula, Saudi Arabia, nestled amongst unspoiled and undiscovered natural landscapes and archaeological sites.