Peak Hotels & Resorts Group to Acquire Amanresorts for $358M
Monday February 10th, 2014 - 9:45AM EB
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SINGAPORE—A private investor group led by Peak Hotels & Resorts Group Ltd. has completed the acquisition of Amanresorts, an international luxury hotel group, from DLF Global Hospitality Ltd.
Under the terms of the transaction, Aman Resorts Group Ltd., a joint venture between Peak Hotels & Resorts and Amanresorts founder Adrian Zecha, has acquired 100% of the equity of Silverlink Resorts Ltd., the owner of Amanresorts, for an enterprise value of approximately $358 million. Zecha will continue as chairman of Amanresorts.
In addition to the purchase price, the partners of Aman Resorts Group Ltd. have committed to a substantial capital reserve account to immediately make investments in existing and new properties.
Founded in 1988, Amanresorts operates 26 properties under the Aman brand in 18 countries. Each of its properties features locally-sourced materials, reflecting the resort’s natural surroundings and the traditions of local cultures in Phuket, Bhutan, Cambodia, China, France, Greece, French Polynesia, India, Indonesia, Italy, Laos, Montenegro, Morocco, Philippines, Sri Lanka, Turkey, Turks & Caicos Islands, U.S. and Vietnam.
Nader Tavakoli, chairman of Aman Resorts Group Ltd., stated, “We are committed to building on and expanding Amanresorts’ established global brand, reputation for unparalleled guest service, and commitment to the local communities where we operate. We look forward to investing in and heightening awareness of existing properties, acquiring and developing new properties and, ultimately, realizing the significant growth potential of this best-in-class business as we continue to deliver superior, unforgettable experiences to guests worldwide.”
“I am delighted to partner with Peak Hotels & Resorts, who not only share my vision for Aman’s future growth but are absolutely committed to sustaining our company’s reputation for many decades to come,” said Zecha.
Tags: Peak Hotels • Amanresorts • Hospitality • Brands • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.