Hotel developer and pioneer Ian Schrager was today awarded a lifetime achievement award at the International Hotel Investment Forum (IHIF) in Berlin, and attributed his success to being a “social scientist.”

Schrager, who is chair, CEO and founder of his eponymous Ian Schrager Company, started his career opening nightclubs, developing New York’s Palladium and the legendary Studio 54 before turning his unique vision to hotels.

He is associated with the formation of the boutique hotel concept, cheap chic and lobby socialising which owns, develops and manages hotels, residential- and mixed-used projects, including the Schrager hotel in London.

In his acceptance speech, Schrager described himself as a “social scientist” and later said this ability to understand trends has been key to his success.

“I observe everything that’s going on in the world – popular culture wise – and look at what people are doing, feeling, the way they’re dressing, what kind of music they’re listening to,” he told Bloomberg.

“There’s a collective consciousness and I try to tap into that zeitgeist and then do a hotel that is responsive to that and take people across the finish line in showing them something new.”

Schrager added that he still feels like an outsider in the hotel industry and feels this enables him to innovate.

“It means you’re always willing to try new things, think outside the box and do things that haven’t been done before, rather than getting swept away by the conventional approach.”

The 17th IHIF runs from 3-5 March, with 200 participants scheduled to speak, present and moderate on the latest industry developments in front of almost 2,000 delegates.