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EgyptAman Group Eyes $2B to Fuel Bold Middle East Expansion in Luxury Hospitality
2 min
Aman is set to raise $2 billion for global luxury hotel expansion.
Recent investments include $900 million from Saudi Arabia's PIF and Cain International.
Aman has 23 hotel projects planned, targeting Middle Eastern and African markets.
The brand's understated luxury appeals to affluent individuals and private clientele.
Middle Eastern demand for personalised experiences drives luxury hospitality trends.
Luxury hotel brand Aman is reportedly gearing up to raise a substantial $2 billion, aiming to press forward with ambitious global expansion plans. The company, headquartered in Switzerland, has attracted significant attention—and investment—from the Middle East in recent years.
Just last year, Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), alongside Cain International, a UK property investment firm, invested an impressive $900 million into Aman Group. And earlier this year, Abu Dhabi’s Mubadala Capital and private equity firm Alpha Wave Ventures chipped in another hefty $360 million.
According to Bloomberg, Aman CEO Vladislav Doronin confirmed the hotel group is currently in talks with several firms, aiming to secure a further $2 billion. "We're working to expand the brand and are collaborating with various investment funds, negotiating with multiple groups," Doronin was quoted as saying.
These new funds will significantly bolster Aman’s assertive push into the Middle Eastern and African hospitality markets. Currently, the company has 23 new hotel developments in the pipeline. They're also expanding the Aman Residences concept, a luxury development targeted squarely at affluent individuals seeking that fresh-from-the-hotel lifestyle, full-time.
Aman's distinctive brand of understated luxury has long appealed to the jet-set crowd, with properties scattered in some of the most idyllic corners of the world. With the Middle East increasingly becoming a global tourism hub, Aman's move seems timely and well-considered.
A hospitality analyst recently noted, off the record, that initiatives like these highlight a strong trend amongst luxury hospitality providers acting decisively upon growing demand from wealthy Middle Eastern travellers desiring personalised, exclusive experiences. Historically a favourite among privacy-concious celebs and society elites, Aman’s move into this bustling region represents a solid step forward.
Here at Arageek—and I'm sure you'd agree—this is another firm indication of how investment momentum continues to tilt toward this vibrant market sector. With leisure travel rebounding briskly following pandemic-era setbacks, we can likely expect even more swaggering moves from hospitality brands seeking a bigger slice of a very lucrative pie.
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