Aman Resorts opened reservations this week for four properties across the United States and Mexico, the largest simultaneous deployment in the brand's 35-year history. The moves include its first New York City location, a Beverly Hills flagship, a 1,200-acre Texas ranch with private stables, and Amanvari on Mexico's Baja California peninsula. Combined estimated development cost exceeds $500 million, according to hospitality-finance sources familiar with the Costa Palmas master plan and Manhattan land-acquisition records.
Amanvari, scheduled to open August 1 with 18 casitas and 33 branded residences, sits within Costa Palmas, a 1,000-acre master-planned community developed by Irongate Capital and CIM Group. Reservations opened March 15. The property includes three restaurants, a 25,000-square-foot spa, and shared access to a Robert Trent Jones II golf course and 2-mile beach club. Casita rates begin at $2,400 per night in low season, climbing to $5,800 during Christmas and New Year windows. Residences, priced from $4.2 million to $18 million, include deed-restricted rental programs guaranteeing owners 60 nights annually and 8% net operating income participation.
The New York property, Aman's first US opening since Amangiri in Utah's Canyon Point debuted in 2009, occupies the Crown Building at Fifth Avenue and 57th Street. The 83-suite hotel sits above 20 Aman-branded residences that sold for an average $7,100 per square foot during their 2022 launch, among Manhattan's highest per-unit prices that year. The Texas ranch, located in the state's Hill Country region west of Austin, will be Aman's first property globally to include fully serviced equestrian facilities with 40 stalls, a polo field, and 15 miles of bridle trails. Opening is scheduled for Q2 2026. Beverly Hills details remain under embargo, though Los Angeles County permit filings show a Wilshire Boulevard site with 50 keys and a standalone spa building.
This acceleration matters because Aman operates 35 properties worldwide, adding just 11 in the past decade—a deliberate crawl that kept occupancy above 70% even during pandemic closures and sustained average daily rates exceeding $1,500 across the portfolio. The brand's expansion into dense urban markets and experiential ranches signals a strategic pivot from remote sanctuaries toward hybrid stays that combine metropolitan access with Aman's signature isolation. Single-family offices and sovereign wealth funds have historically allocated to Aman developments through direct equity stakes rather than traditional hotel REITs, attracted by residence presale velocity and the brand's 4.2x revenue-per-available-room premium over Four Seasons comps in overlapping markets like Tokyo and Venice.
The Costa Palmas master plan is particularly instructive. Amanvari is the community's second ultra-luxury anchor, following Four Seasons Resort Los Cabos at Costa Palmas, which opened 2023 with 141 keys. The developers structured phased releases: Four Seasons captured the family and group segment, Aman targets the single-traveler and couple demographic willing to pay 40% premiums for lower density. Branded residence sales at Costa Palmas have generated $780 million in closings since 2021, per Baja California Sur property records, with Aman units moving 18% faster than Four Seasons equivalents despite higher entry prices. This model—pairing two luxury operators with distinct customer psychographics within a single master plan—is now being replicated in Saudi Arabia's Red Sea Project and Montenegro's Luštica Bay.
Operators and allocators should track three follow-on events. First, Aman's New York occupancy and ADR during its first 12 months will establish urban-gateway pricing power for the brand, with implications for pending projects in London and Miami Beach. Second, residence presales at the Beverly Hills and Texas properties, expected to launch Q3 2025, will test whether Aman's model holds in secondary luxury markets without natural scarcity. Third, watch Costa Palmas for additional anchor announcements; the master plan allocates sites for three more hotels, and Rosewood and Montage have both conducted site visits since January 2025.
Aman's founder, Adrian Zecha, sold the brand to Russian billionaire Vladislav Doronin in 2014 for an undisclosed sum estimated near $360 million. Since then, Doronin's Aman Group has raised $1.2 billion in project-level debt and equity, mostly from Middle Eastern and Asian family offices. The current expansion cycle suggests Doronin is positioning for either a minority stake sale to a sovereign wealth fund or an eventual SPAC merger, though Aman Group declined to comment on capital structure. The Texas ranch breaks ground in 90 days.
The takeaway
Aman's simultaneous deployment of $500M+ across four properties marks its shift from remote sanctuaries to urban-experiential hybrids, with residence presales testing pricing power in secondary markets by Q3 2025.
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