A Fix News

Aman Group has secured US$900 million of investment to accelerate the global expansion of its luxury hotels and branded residences.

Saudi Arabia’s Public Investment Fund (PIF) and London-based real estate investment fund Cain International are providing the investment, which the group said will bring the value of the company to over US$3 billion.

The funds will be used to construct the pipeline of Aman and Janu properties and support the acquisition and development of additional sites.

Aman was founded in 1988 and currently has 34 hotels across 20 countries, 12 of which include branded residences. There are a further nine projects under construction, including three properties under the Janu brand in Tokyo, Saudi Arabia and Montenegro.

The group is focusing on its branded residences, having generated US$2.4 billion in sales of Aman Branded Residencs over the last 12 months – this includes sales at its forthcoming properties in Tokyo and Miami before they open in 2023 and 2024 respectively.

The group said that the investment brings the value of the company to over US$3 billion.

Vlad Doronin, owner, chairman and CEO of Aman Group, 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 group recently opened its first city centre hotel in the United States, located in New York.

Aman New York to open in August

American Airlines has signed an agreement with Boom Supersonic to purchase 20 of the firm’s Overture aircraft.

The airline has paid a non-refundable deposit on the initial 20 aircraft, and the deal includes the option for an additional 40 aircraft.

Before the delivery of any Overtures, the carrier said that Boom “must meet industry-standard operating, performance and safety requirements as well as American’s other customary conditions”.

Overture is designed to run on 100 per cent sustainable aviation fuel (SAF) and carry 65 to 80 passengers. It is currently slated to roll out in 2025 and carry passengers by 2029. The firm’s one-third scale XB-1 demonstrator aircraft rolled out in 2020.

Boom Supersonic rolls out XB-1 demonstrator aircraft

The aircraft is designed to fly at speeds of Mach 1.7 – twice the speed of current commercial jets – which would potentially halve journey times. American Airlines has said that the aircraft could transport passengers from Miami to London in just under five hours and Los Angeles to Honolulu in three hours.

AA’s chief financial officer Derek Kerr commented:

“Looking to the future, supersonic travel will be an important part of our ability to deliver for our customers. We are excited about how Boom will shape the future of travel both for our company and our customers.”

Blake Scholl, founder and CEO of Boom, added:

“We are proud to share our vision of a more connected and sustainable world with American Airlines. We believe Overture can help American deepen its competitive advantage on network, loyalty and overall airline preference through the paradigm-changing benefits of cutting travel times in half.”

Boom Supersonic has also signed deals with United Airlines and Japan Airlines.

United signs agreement to buy Boom Supersonic aircraft

aa.com