Aman lands $500M to grow luxury hotel brands in South Korea and beyond
What's the deal? Ultra-luxury hospitality group AmanDealroom has a profile for this one. Try Dealroom → has secured a $500 million investment from OKO Group and ShinsegaeDealroom has a profile for this one. Try Dealroom → Group in a late-stage round. The funding opens a development pipeline for the Aman and Janu brands in South Korea and other international markets.
Who's involved? Aman operates 36 hotels and resorts across 21 countries, with sister brand Janu present in Tokyo and Dubai. Shinsegae Group, headquartered in Seoul, is one of South Korea's largest retail conglomerates and owns the Busan store recognised by Guinness World Records as the world's largest department store.
What's the endgame? The partners plan to target luxury hospitality, branded residences, and mixed-use developments in major markets. Aman's existing pipeline includes properties under construction in Miami, Dubai, Beverly Hills, Saudi Arabia, Singapore, the Maldives, and the Bahamas.
What they're saying: Vlad Doronin, founder and chief executive officer of OKO Group and chairman and chief executive officer of Aman, said the firm shares Shinsegae's "long-term vision for creating distinctive projects that resonate with global travellers, residents and local communities."
Shinsegae chairman Yong Jin Chung said the partners could "create exceptional destinations that set new benchmarks in luxury hospitality and residential living around the world."
The signal: The deal underlines how branded residences and mixed-use luxury developments continue to draw major capital, and it gives Aman a well-capitalised retail partner to accelerate its push into South Korea and beyond.
Read more: Latte Luxury News
Image credit: Upsilon Andromedae
