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Dominic had dominated the luxury hospitality industry for years. Plus, Zane had personally escorted her here, so Dominic gave her his full attention and engaged deeply with her proposal.
He pointed out that staffing, energy, and maintenance costs for high-end serviced apartments were astronomically higher than standard residential buildings.
They catered heavily to expats, meaning bilingual staff fluent in English, Japanese, and Korean were the bare minimum.
The conversion costs were brutal, and the wear and tear required full renovations every three to five years.
These were the standard operational costs and risks, which were entirely manageable.
The unmanageable risk was a macro-economic downturn. If foreign corporations pulled out, demand would instantly crash, freezing the market. The result would be skyrocketing vacancy rates, plunging the company into a catastrophic cash flow crisis.
Dominic had heard the rumors about the Vance Group's current struggles. By highlighting the worst-case scenario—that the project might fail to turn a profit—he was tactfully pointing out that her capital couldn't survive a stress test.
Because of that, Dominic didn't give a hard yes or no.
To Elara, this pivot might be her only lifeline in a desperate situation.
But to Dominic, the risk-to-reward ratio was far too high. He simply wasn't interested.
He hadn't said it directly, but his silence said everything.
There was no need to force the issue. Elara sincerely thanked him, keeping the rejection graceful and professional for everyone involved.
Dominic was the ultimate gentleman, inviting them to stay for dinner at the hotel.
Zane politely declined, saying he needed to drive Ms. Vance back to her office.
Dominic shot Zane a knowing look and told him they'd catch up another time.
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As the car pulled away from the hotel, Zane asked, "Feeling discouraged?"
Elara offered a faint smile. "Not at all. I expected this."
Zane chuckled. "At least he didn't tear your business model apart."
Elara nodded in agreement. "Exactly. That's the biggest win of the day. Thank you, Zane."
"What's the next move?"
Elara mapped it out. "The rezoning process for commercial land use is a bureaucratic nightmare. I'll get the preliminary paperwork moving first. We can hold off on securing an operations management team for now."
Zane nodded approvingly. "Good things take time."
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