Aman Opens $800M New York Crown Jewel, Beverly Hills and Texas Ranch Follow
After a decade outside major U.S. markets, the Thai-born ultra-luxury brand resurfaces with three North American flagships targeting single-family offices and real-estate allocators.
Aman Resorts opened its first new U.S. property in more than 10 years with the debut of Aman New York, a $800 million Crown Building conversion in Manhattan, and confirmed Beverly Hills and a secluded Texas ranch retreat are already in development. The New York opening marks the brand's return to stateside expansion after years of focusing capital on Southeast Asia, the Middle East, and the Mediterranean, where occupancy rates have consistently exceeded 75% even at average daily rates above $2,000.
The Crown Building property delivers 83 suites and 22 branded residences priced from $5.9 million to north of $50 million, with the residences sold out before public launch. The hotel occupies floors 7 through 13, with a 25,000-square-foot spa anchoring the wellness offering—triple the footprint of the brand's Bhutanese properties and sized to compete with Rosewood's recently expanded New York facilities. Aman's Beverly Hills project, still under wraps on exact location, is expected to deliver in late 2025 or early 2026, while the Texas ranch—its first equestrian-focused property with fully serviced stables—targets Q2 2026 in the Hill Country outside Austin.
The strategic shift matters because Aman has historically avoided urban markets, preferring remote beachfront or mountain sites where land acquisition and construction costs stay below $400,000 per key. The New York project alone ran closer to $9.6 million per key, a figure that only pencils when branded residence sales subsidize hotel construction. That model—perfected by Bulgari, Armani, and recently adopted by Rosewood—turns legacy hospitality brands into real-estate development engines, with the hotel serving as permanent brand activation for residence buyers. Aman's entrance into this structure signals confidence that their reputation for serene minimalism translates into residence premiums of 40% to 60% over comparable non-branded inventory, based on early Crown Building closings.
The Texas ranch property introduces another variable: Aman's first North American location explicitly built for domestic drive-market guests rather than international long-haul travelers. The Hill Country site sits 45 minutes from Austin-Bergstrom International and 90 minutes from San Antonio, targeting the same family-office and private-aviation demographic that drives occupancy at Miraval Austin and Lake Austin Spa Resort. With fully serviced stables and canyon trails, the property competes directly with The Resort at Paws Up in Montana and Brush Creek Ranch in Wyoming, both of which report $3,500 average daily rates during peak season and occupancy above 80%. Aman's entry into this segment suggests internal data shows demand for ultra-luxury domestic experiential travel has permanently shifted upward since 2021, when private ranch bookings doubled and haven't retreated.
Operators and allocators should watch branded residence attachment rates across all three properties. If Beverly Hills replicates New York's pre-launch sellout, expect Aman to accelerate urban-hybrid projects in Miami, Aspen, and possibly Jackson Hole, where land parcels suitable for 50-to-100-key properties with 20-to-40 residences are already being quietly surveyed. The Texas ranch will test whether Aman's $2,000-plus pricing power holds in drive markets without ocean or ski access; if occupancy stays above 70% in year two, the domestic ranch format likely expands to Montana, Northern California, and possibly the Adirondacks. Mexico's debut property in Los Cabos, also confirmed this week, adds another data point on whether Aman can maintain rate integrity in markets where Four Seasons, Rosewood, and Montage already operate at $1,800-to-$2,200 ADR.
The New York opening also confirms Aman's ownership group, led by Russian billionaire Vladislav Doronin since 2014, has secured sufficient capital access despite geopolitical headwinds to fund a $2 billion-plus North American expansion pipeline. Doronin's Aman has opened 14 properties in the past decade, compared to 19 total in the brand's first 30 years, suggesting the current development velocity is sustainable through at least 2028 based on confirmed project timelines.
The takeaway
Aman's **$800M** New York opening and Texas ranch confirm a shift from remote sanctuaries to urban-hybrid, drive-market properties targeting North American family offices.
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