News of Aman’s whopping $900 million investment comes not long after the group opened its second city location in New York earlier this month – described by CEO Vlad Doronin as a “milestone opening” and one which “propels the brand forward”. The hefty cash injection which values Aman at $3 billion will be used to expand the group globally, and given the hype around the New York site, it would appear that urban destinations are on Doronin’s radar.
It’s a huge vote of confidence in luxury hotel brands at a time when economic pressures are pinching pockets. That said, Aman is an entirely different breed of hotel, demanding eye watering nightly rates yet still being able to attract a cult following. With this in mind, the investment speaks more to the appeal of exclusivity – something which is prompting hospitality businesses to move into the members’ club space, as is the case with Artfarm. The independent group has just acquired The Groucho Club in London.
We’ve seen over the last couple of years how hoteliers have shifted their product offering to attract new behaviours, most notably in the introduction of work spaces in communal areas. In light of recent trends, a more exclusive service could soon be in the pipeline.
Our next Urban Living Insights half-day live event will be discussing the changing nature of work, taking place at 25EP in London on September 15. Industry leaders from across the workspace and hospitality sectors will be featured, including Arterial Group, Working From_The Hoxton, Ekkist, Work.Life, The Ministry, Best Star Real Estate and more.
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