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Aman deployed two properties in one quarter for the first time in six years, compressing its launch cycle and testing dual-season demand capture.
18 casitas
overlooking the Sea of Cortez
$150 million
based on Aman's historical per-key costs and land acquisition…
1,537 meters
above sea level
90 days
of each other
Aman opened two properties in the same quarter for the first time since 2019. Rosa Alpina went live in San Cassiano in Italy's Dolomites. Amanvari debuted in Baja's East Cape with 18 casitas overlooking the Sea of Cortez. The combined capital deployment likely exceeds $150 million, based on Aman's historical per-key costs and land acquisition patterns in both geographies.
Rosa Alpina occupies a former family-run alpine lodge in San Cassiano, a village 1,537 meters above sea level. The property includes three pools and positioning around ski-in access to the Dolomiti Superski network. Amanvari sits on Baja's eastern coastline near Los Cabos, with programming centered on marine park access, estuary kayaking, and high-desert hiking. Both openings occurred within 90 days of each other, compressing Aman's typical launch cycle by half.
The dual launch signals two shifts. First, Aman is moving faster. The brand opened one property in 2022, one in 2023, and now two in Q1 2025. That cadence matters because Aman's parent, Vlad Doronin's Aman Group, raised $600 million in 2021 from Saudi Arabia's Public Investment Fund and is now deploying that capital into inventory expansion rather than holding it for opportunistic buys. Second, the brand is testing appetite for near-simultaneous openings in non-competing climates — alpine Europe in winter, coastal Mexico in spring. This allows Aman to capture Northern Hemisphere seasonality twice in one fiscal quarter without cannibalizing its own demand.
Rosa Alpina and Amanvari also represent opposite ends of Aman's acquisition strategy. Rosa Alpina is a conversion, inheriting the bones of an existing property with local heritage. Amanvari is ground-up, built on raw land with no prior hospitality use. The conversion model carries lower capital intensity but higher operational complexity due to legacy infrastructure. The ground-up model costs more upfront but allows Aman to control guest flow, sightlines, and service choreography from the first blueprint. Operators should note which model performs better in its first 12 months — the data will inform Aman's next $500 million in deployment.
Family offices and hotel development groups should watch three follow-on moves. First, whether Aman opens a third property before December 2025, which would confirm the faster cadence is structural, not opportunistic. Second, whether RevPAR at Rosa Alpina and Amanvari exceeds $1,200 in their first full quarters, validating pricing power in new markets. Third, whether Doronin's group announces another capital raise or debt facility in Q3 2025, signaling intent to sustain the tempo.
Aman now operates 35 properties globally. The brand's next confirmed openings are in Saudi Arabia's AlUla region and Japan's Ise-Shima, both scheduled for late 2025 or early 2026.
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