A private investor group led by Peak Hotels & Resorts Group has completed the acquisition of Amanresorts from Indian real estate giant DLF.
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 US$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 premier properties under the Aman brand in 18 countries.
“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 Adrian Zecha.
The deal comes about 14 months after DLF initially agreed to sell Amanresorts to Zecha but the financing was delayed.
DLF bought a 97% stake in Amanresorts in 2007 for US$400 million, which it later raised to 100%. However, the company is now prioritizing debt reduction.
