AMAN ATTRACTS AN INVESTMENT FUND WORTH 337 MILLION EUROS
An investment fund, in which the sovereign wealth fund of the United Arab Emirates is participating, has spent 337 million euros to acquire a stake in the hotel group Aman |
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AMAN ATTRACTS AN INVESTMENT FUND WORTH 337 MILLION EUROS
An investment fund, in which the sovereign wealth fund of the United Arab Emirates is participating, has spent 337 million euros to acquire a stake in the hotel group Aman |
Category: Worldwide - Industry economy
- Hotel projects
Article written by Christopher Buet on 2023-10-23
Aman is continuing its transformation and entering a new phase of growth. A year after receiving nearly €844 million from the Saudi Arabian sovereign wealth fund and Cain International, the hotel group announced in a press release, it received a further €337 million last September, this time from a group of investors including Mudabala Capital, a subsidiary of the Abu Dhabi sovereign wealth fund Mudabala Investment Company, and Alpha Wave Ventures, a private fund managed by Alpha Wave Globel and Chimera Capital.
This massive investment has enabled the company founded by Adrian Zecha and bought by Vlad Doronin to reach a value of 3 billion dollars. "My long-term strategy has always been to create ecosystems based on the Aman philosophy for both urban destinations and resorts," he says, before adding: "Validating Aman's strategy through major investors in regions where we plan to grow enables us to take advantage of Aman's extraordinary potential and accelerate the achievement of sustainable growth," says the Russian businessman, looking forward to an already flourishing future.Eleven new projects to comeIn fact, this new money will be quickly invested by Aman, which has no shortage of projects. While the group has only opened 34 luxury hotels in 20 countries in 35 years, it plans to add 11 new ones over the next four years. These are due to open in Tokyo at the end of the year, followed by Thailand, South Korea, the Maldives, Turkey, Portugal, Montenegro and the Turks and Caicos Islands, as well as the United Arab Emirates and Saudi Arabia.
The hotel in the United Arab Emirates is due to open in Dubai in 2027, while two hotels are being prepared in the Saudi kingdom at Diriyah on the outskirts of Riyadh and AlUla. They will incorporate the Janu brand, whose launch in 2020 was disrupted by the Covid-19 pandemic. With this brand, whose name means "soul" in Sanskrit, Aman hopes to reach a new clientele who share the same ideas and values.
Last April, Saudi investors announced the launch in 2027 of a huge 50-suite yacht, the "Aman at Sea".
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