The Aman phenomenon is reportedly alive well on its residential side. In a Friday conversation with Vanessa Grout, global head of Aman’s Residences & Club, HOTELS learned that residences in Miami Beach (2024 opening) are fully reserved and the soon-to-open New York City property is selling at a premium, as well, with sales there truly picking up as early as last fall.
Developed by Aman Chairman and CEO Vladislav Doronin’s OKO Group, residences integrated into or next to Aman hotels, in this case New York and Miami Beach, are selling at enormous premiums over the top of the markets, mostly due to the trust in the brand and because of Aman loyalist’s devotion, according to Grout.
“We are fully reserved in Miami,” Grout told HOTELS. “It happened quickly with our loyal customers. We rely on our own channels like no other, and we generate a lot of interest in our residences through our travel partners.”
Back in New York, where Grout currently offices, she said the bottom of the real estate market hit last August and a recovery was in the works by Labor Day. “The international set reached out and their inquiries quickly turned into sales starting in October,” she said, adding that New York residential sales have passed the half-way mark and more big closings are imminent.
What Aman learned through the pandemic, Grout said, is that loyal clients now want even more privacy. “In Miami, for example, buyers really like that Aman also manages the residential (Aman manages all residential) and don’t want the building to have a transient feel,” she said. “There is no rental management program for first time there. Owners can rent their apartments for a minimum of one year, but no short-term rentals (code for no Airbnb).” She added that the property, including the hotel, is closed to the general public. Only owners, guests and their invited friends are allowed.
Grout said New York and Miami Beach are just the tip of residential development for the brand. While an integrated hotel and residence is under construction in Bangkok and set for a 2024 opening, the first residential-only project is also under construction in Tokyo. The brand is also exploring in the Bahamas, she said, and is considering adding a residential component at its existing property in Marrakech. Amanvari in Mexico and Aman Niseko in Japan are also planned for 2024.