Hotels in the Middle East are performing really well with the highest occupancy rates in the world, said a senior director of global data benchmarking firm STR.
11.09.2023 - 15:49 / skift.com / Burj Al-Arab / Josh Corder
Luxury hospitality juggernaut Aman is entering an unprecedented period of growth. After amassing 34 luxury hotels in 35 years, it now plans to open 11 hotels and resorts for its off-shoot brand Janu over the next four years, Skift has learned.
The move comes in the wake of last week’s announcement that it would receive $360 million from United Arab Emirates (UAE) royals and their investment corps. The investors include a unit of Abu Dhabi wealth fund Mubadala Investment Co. and Alpha Wave Ventures, a private equity fund co-managed by U.S. firm Alpha Wave Global and Chimera Capital.
The Janu brand is Aman’s engine for development. While Aman is more about ultra-luxurious seclusion, Janu will be a bit more affordable and more social — with also the potentially favorable economics of higher room counts.
After its maiden property in Tokyo opens later this year, Janu will spread to Thailand, South Korea, Maldives, Turkey, Portugal, Saudi Arabia, UAE, Turks & Caicos, and Montenegro — which was the brand’s planned debut location before the pandemic.
The Saudi hotels will be in Diriyah Gate and AlUla, two of the Kingdom’s premier projects in driving tourism and changing the country’s image. The Dubai iteration opens in 2027.
Also in Saudi Arabia, ‘flagship’ Aman properties are set for Diriyah and AlUla.
Owned by real estate billionaire Vladislav Doronin, Aman announced Janu in 2020, crediting Doronin as the mastermind.
Over the last 12 months, Aman has cozied up to the Middle East, receiving $900 million in funding from Saudi Arabia’s Public Investment Fund (PIF) and Cain International, the London-based privately-held real estate investment firm before last week’s $360 million from other investors.
“The validation of Aman’s strategy by prominent investors in regions where we have considerable expansion planned enables us to leverage the extraordinary potential of the Aman brand and accelerate the pipeline to deliver sustainable growth,” Doronin said in a statement.
It’s not only hotels where Aman is teaming with the UAE and Saudi. In April of last year, the group partnered with PIF to announce ‘Aman at Sea,’ a new mega-yacht running the Aman flag setting sail in 2027.
One of the group’s brand pillars and great selling points has been its locations. Since its inception, the celebrity-favored brand has mostly tucked itself into remote locations, but with the acceleration of Janu, Aman appears to be going more conventional.
In Dubai – home to more than 800 hotels and counting – few hotels are truly secluded. Unless they are built on their own island (take the Burj Al Arab Jumeirah) or out in the desert where few residents drive to (take Marriott’s Al Maha resort), hotels will likely be shoulder to shoulder
Hotels in the Middle East are performing really well with the highest occupancy rates in the world, said a senior director of global data benchmarking firm STR.
Saudi Arabia’s Trojena mountains destination has announced it will house a JW and a W hotel from Marriott. They are two of many international hotels opening atop the man-made ski retreat, where Saudi plans to host the Asia Winter Games in 2029.
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The Saudi Crown Prince Mohammed bin Salman, referred to as “MBS” by the media, won’t slow down his spending to reshape his kingdom and boost tourism. His immense projects have been met with scrutiny overseas, but in the future, he wants to develop nearly 600 islands along the coast, according to his interview on Wednesday with Fox News, his first fully in English.
Size matters in Dubai, home to the world’s tallest building, the largest water park, and just because it can, the world’s largest “frame.” Already chief among the other six emirates in hotel development, Dubai is charging ahead with yet more rooms.
The holding company of one of UAE’s best-known local hotel groups, FIVE Holdings, publicly shared its financial results recently – notable because large companies rarely release financial information unless they trade publicly.
Caesars Palace Dubai is closing its doors, with Dubai Holding now choosing Accor instead. A phased rebranding will follow and by November of this year, the property will become Banyan Tree Dubai. With Caesars Entertainment detaching itself from Dubai – even after the country announced a gaming authority – Banyan Tree and Ennismore will co-operate the rebranded hotel.
Marriott continues to be a go-to choice for Saudi Arabia when it comes to operators for hotels within the giga-project portfolio. The U.S. hotel giant will be involved in every government-backed tourism project – the latest is an AlUla hotel.
Saudi Arabia is working on its own major commercial cruise line brand designed for those with “Arabian preferences.” AROYA Cruises sets sail next year with a single ship, formerly known as World Dream, the last remaining ship of the struggling Dream Cruises company.
The United Arab Emirates has established the General Commercial Gaming Regulatory Authority, known as the GCGRA, a federal-level entity to regulate and establish “strict guidelines” for the country’s commercial gaming industry. The GCGRA sets the scene for future casinos where Ras Al Khaimah already has the confirmed Wynn resort; a potential “Arabian Strip;” and gaming in other emirates, including Dubai and Abu Dhabi.
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