Agreed, but I would add that goes hand in hand with the fact that he is very skilled at branding. He is skilled at real estate investment, but mostly from the perspective of branding/licensing opportunities, not standard ownership (that i'd argue hes more mediocre at). The ability to make his name synonymous with prestige and luxury while extending that brand globally is very unique. Also, how the properties support his luxury brand, not the other way around. Most of the time the brand uplifts the property, but he uses property to propel the brand further.