Aman announced two properties opening between 2026 and 2028: Aman Seoul in Cheongdam and Amanolu in the Maldives, the brand's 40th and 41st hotels. The Maldives property opens 2028. Seoul opens earlier, likely 2026. Combined development outlay is estimated north of $400 million based on comparable Aman builds in island and urban markets. Vladislav Doronin's Aman has 39 properties operating today across 20 countries.
Amanolu sits in an undisclosed atoll. The name blends Sanskrit *aman* (peace) with Sinhala *olu* (light). No room count disclosed. Aman's existing Indian Ocean properties—Amanwella in Sri Lanka, Amanzoe adjacent to Greece—run 20 to 40 keys. Industry modeling suggests 25 to 35 pavilions at Amanolu, likely priced $3,000 to $6,500 per night in high season. Aman Seoul occupies a site in Cheongdam, Seoul's Gangnam luxury corridor, near Hermès, Dior, and Amorepacific headquarters. No architect named yet. Aman's urban portfolio—Tokyo, New York, Venice—averages 24 rooms. Seoul will likely mirror that.
The timing matters. Aman added three properties in 2023 (Aman Niseko, Aman Malibu, Amanvari in the Dominican Republic). Two in 2024. The brand paused after rapid 2021–2023 expansion under Doronin, who bought Aman from Singaporean investors in 2014. The Maldives is a $6.8 billion annual tourism economy with 175 resorts operational. Average occupancy ran 78% in 2024 despite global softness. Ultra-luxury operators—Soneva, Cheval Blanc, Patina—added six properties there since 2022. Aman's entry is late but calculated: allocators now price Maldivian land acquisitions at $15 million to $40 million per atoll depending on reef access and flight time from Malé. Seoul's luxury hospitality saw $1.2 billion in capital commitments in 2023–2024, led by Josun Palace, Four Seasons Gwanghwamun, and Edition Gangnam. Cheongdam rents sit at $120 to $180 per square foot annually for prime retail. Aman Seoul will anchor the southern Gangnam development corridor.
Allocators should note three follow-on events. First, Aman's debt refinancing closes in Q2 2025 after Doronin restructured $750 million in borrowings tied to pandemic-era cash burn. Second, the Maldives government reviews foreign ownership caps on resort islands in late 2025; Aman's structure—likely a long-term lease with a Maldivian partner—will indicate investor sentiment. Third, Seoul's luxury ADR grew 11% year-over-year in 2024 to $585 across five-star properties, per STR. Aman Seoul's opening rate will set the ceiling.
Aman now operates in the Maldives and South Korea. Amanwella opened 2005. Aman Seoul will be the brand's fifth Asian urban property after Tokyo, Shanghai, Hong Kong, Bangkok.