UK: JLL has hired Max Thorne to develop its serviced apartment offering as investment appetite for the sector grows across Europe.
Thorne will lead a dedicated team that will sit within the
Hotels & Hospitality & Residential teams.
He has 30 years' experience in the sector - he has held senior roles at BridgeStreet Global Hospitality, and created the Beyonder aparthotel brand for Oaktree Capital Management's platform, which was followed by the acquisition of SACO.
In 2015 Thorne established his own hospitality consultancy, the MRP Group which provides advice to clients such as The Wellcome Trust, Oaktree Capital Management, PRSInvest, Visit Rentals and MRIB insurance.
As chairman of the British Hospitality Association Aparthotel Committee, he has also spearheaded action to help the sector gain recognition within the wider hospitality industry.
Mark Wynne Smith, global chief executive of JLL's Hotels & Hospitality Group, said: "Investors are seeing the opportunities the sector can offer thanks to growing consumer demand for serviced accommodation and the supply gap opportunities that exist in city markets such as London. The time is right for us to offer clients a dedicated advisory service and we are delighted that Max will be leading this given his depth of knowledge and experience."
Thorne said: "Over the past 30 years, I have seen the aparthotel and serviced apartment sectors of hospitality grow year on year. In the past decade the sector has gained increasing attention from private and institutional investment houses and JLL has taken the lead in being the first commercial agency to commit resources and investment to a dedicated team. I am looking forward to spearheading this, given my experience of working in the sector from the perspective of both the operator and buyer."