While the battle over legal control of Aman Resorts continues to play out in the courts between lead investors Vladislav Doronin and Omar Amanat, publicly it is Doronin, the majority investor and board director, who appears to be the new face of the legendary brand that has seen founder Adrian Zecha take a back seat.
How does the brand flourish amid the headlines? What’s next? And just who is the billionaire Doronin? One thing we do know is that he works out of a London office and confesses to first having taken a shine to the ultra-luxury brand as he stayed at the resorts and became a fabled “Aman junkie.”
First, from his perspective, Doronin sets the record straight on ownership. “I am the majority investor in Aman and to date have invested approximately US$300 million in the business,” he says. “There is also a minority shareholder. Aman is controlled by the board of directors, and I serve as a director on the board, together with Alan Djanogly. Johan Eliasch is director and chairman of the board, and there is a corporate director nominated by the minority shareholder.”
Aman’s main opportunity, according to Doronin, still comes from the fact the brand is unique and remains in a league of its own with destinations rooted in discovery that create experiences beyond luxury. “Expectation is high when it comes to the look and feel at Aman, and we need to deliver,” he adds. “Keeping up with this costs money, and I am in a position to provide the necessary financial input to make it happen.”
Aman is currently working on complete reconstruction and refurbishment of its hotel in Bora Bora and plans to develop new locations in the Bahamas, Brazil and Mexico, followed by Africa and the Middle East. However, Doronin also makes it clear Aman is a long-term investment, saying his goal is to carefully expand the portfolio while at the same time being an effective custodian of the brand.
“The most important lesson I’ve learned so far is to be patient,” he says. “Making such a large investment in an undercapitalized company like Aman is an extremely exciting challenge, but implementing necessary changes can take time.”
Editor’s note: This profile is part of HOTELS’ first People Issue, which highlights a dozen up-and-coming hoteliers.