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levels are below the budget thresholds that business and leisure travelers typically observe in times like these .
H : How much of your expansion involves development partnerships , such as Tristan Capital Partners , versus new construction ? MS : Both in new construction as well as in conversion of existing buildings , be it existing hotels or existing office spaces or retail spaces , we like to work with long-term partners . This pertains to real estate developers as well as to real
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estate investors and asset managers . H : How do you maintain your brand while working with different development partners ? MS : Through set brand standards , close monitoring and involvement in all development and construction processes , and an always good relationship with our development partners .
H : How do you define “ lean luxury ” and how do you build it into your business model ? MS : Lean luxury in hotels means that we offer our target
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group of guests that which they consider luxury at a ‘ lean ’ price : Individual , boutique-style hotels full of character and soul that offer all the essentials at a luxury level by economizing on those things that our guests do not need or want in the central location of a large city ( which is what we focus on ).
We complement the resulting price-value-advantages by being lean on labor costs – by automating and centralizing more than most hotels , building on a highly digitalized set of processes – and by being lean on space – again based on novel , technologically savvy ways
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of planning and building our hotels .
H : Is your expansion in China following the same formula that you have in Europe ? MS : In China , we successfully operate through our joint venture with one of China ’ s major hotel companies , Delonix Group . Whilst staying true to our lean luxury philosophy , we have adjusted our product to optimally serve the local consumer requirements , such as adding twin rooms to our room portfolio , or including a local hot buffet to our breakfast offering .
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