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Christoph Mares did not arrive at Boutique Group to build another collection of luxury hotels. He arrived to help define a new category. The Public Investment Fund-owned company is converting former royal palaces into ultra-luxury hospitality assets, a task that demands commercial discipline, conservation judgement and a service culture capable of making monumental buildings feel personal. Since taking the chief executive role in January 2025, Mares has become the operator charged with turning that ambition into a repeatable guest experience.