Specialist Consultant to the Serviced Apartment and Aparthotel Sector - Over 30 Years of Operational, Development and Acquisition Experience - MRP ...
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Specialist Consultant to the
Serviced Apartment and Aparthotel Sector
Over 30 Years of Operational,
Development and Acquisition Experience
We specialise in helping
investors, operators and debt
providers in understanding
the Serviced Apartment and
Aparthotel sector.
Introduction
What Do We Do?
Led by Max Thorne, the MRP Group
has been created by professionals who are passionate
about property, hospitality and maximising returns
for your business. The MRP Group is on the pulse of With over 30 years of experience, The MRP Group
what is happening in the Serviced Apartment and is the in the niche professional Serviced Apartments,
Aparthotel industry along-side the hospitality
industry, providing your business with valuable
Aparthotels and hospitality sector. The Group has
advice to fit with the ever changing landscape. extensive experience in structuring, transacting and
completing businesses agreements within the UK,
Europe, Middle East and Asia. The MRP Group provides a
• Business Strategy • E-Commerce
• Marketing
boutique full service offering to the Serviced apartments
Experience
• Business Development and Aparthotels industry with the objective of increasing
• Finance and Debt
• Sales returns to your business.
• Legal and HR
• Information Technology
• Project Work • Advisory
• Consultancy • Transactions
• Mentoring • Operator Search
Advisory Transactions Operator Search
We have successfully Collectively, Max and the MRP Group have The MRP Group have
Passionate about the sector
advised multiple; companies,
individuals, owners, operators,
investors and banks on all aspects
significant experience attractions in the
industry including for one of the largest
Serviced Apartment transactions in 2018
successfully ran multiple
operator searches for lease
and management agreements,
and demonstrates a huge
of the Serviced Apartment and
ApartHotel Sector.
between Oaktree Capital Management and
Brookfield Asset Management.
delivering record breaking
returns per room/key. level of professionalism
and commitment to
seeing the sector grow and
Project Work Mentoring Consultancy develop in prominence.
The MRP Group is highly skilled One to one mentoring to the Business Leader As part of the MRP Groups services Max is
at projects; from full top to or identified succession planning of employees often asked to consult for Businesses
bottom review to specialist is a bespoke service that the MRP Group in or aligned to the sector. This role is
implementation projects. offer, enabling today’s dynamic market place typically approached in the capacity as a
disrupters to benefit from Max’s experience in Board Senior Advisor or can evolve to a
the sector which has exceeded 30 years. Non-Executive board appointment.
RUSSELL KETT
Chairman / HVS
Expertise
Max Thorne
The MRP Group and Max Thorne has an
With over 25 years of experience in the industry Max identified a gap in the established track record during the last 3
sector and created The MRP Group in 2013 to provide solutions & advisory to years which includes
the Serviced Apartments and Aparthotels sector. • Advised on over 5 acquisitions of Serviced
Apartment and Aparthotel companies and
Max started his life in Serviced Apartments deployed £300m GDV into the European In January 2018, Max lead the team as the property portfolios.
in 1993, having previously worked in the markets. After 3 years of acquisition and Senior Advisor and acquired Oaktree’s SACO
property industry since 1986. development, Max led the acquisition SACO operating platform and property company • Transacted in excess of £2 billion of Serviced
Operating company for Oaktree Capital for Brookfield Asset Management. This is the Apartment and Aparthotel assets and
Max sold the first business he was involved Management and combined their business largest ever Serviced Apartment transaction companies.
with; London Life, in 1998 to BridgeStreet with the £300m of properties that had been in Europe.
Serviced Apartments and then continued acquired. Max then left Oaktree, whilst still • Lead private equity investment into the
as part of the executive leadership team to retaining an investment in the business. Across the country Max has acquired for sector in excess of £1 billion.
run the business for 15 years, until it was various funds and investors over two billion • Led the buy-side team on the largest
sold again in 2012 to Versa Capital. During In 2017, acting for Skyline, Max prepared pounds worth of assets, from Aberdeen, to UK Serviced Apartment and Aparthotel
this time he acquired the BridgeStreet Paris Skyline Serviced Apartments for an exit which Brighton and London to Dublin.
acquisition.
office, signed over 30 towers for lease and subsequently was acquired by Q Apartments,
management in the UK, Europe, Asia and GCC. from Copenhagen. Max has also been responsible for achieving • Has signed over 500 leases and management
Max then left BridgeStreet in 2012. In 2017, Max, acting for a Private Equity Fund, some of the highest recorded rents per room/ agreements during his time as an operator.
was part of the advisory team that acquired key, across the country, some of the more
In 2012 Max joined Oaktree Capital the Short Stay Group & YAYS Serviced notable being; Scotland @ £17,500 a key and
Management as CEO for their platform and Apartments. London in excess of £30,000 a key per annum.
1 London 1 Austria 8
2 Edinburgh 2 Czechia 12
3 Glasgow 3 France
4 Dublin 4 Germany
5 Birmingham 5 Greece
2
3
6 Manchester 6 Italy
7
Geography
4
7 Liverpool 10 7 Netherlands
2 14
8 Cambridge 8 Norway
3 1
9 Oxford 9 Portugal 13
6
4 7 10 Romania 10
10 Newcastle
Areas of Expertise 8
11 Bath 5 11 Spain
1 9 11 6
12 Bristol 12 Sweden
12 9
13 Portsmouth
11 13 Switzerland
14 13 5
14 Southhampton 14 Ukraine
Testimonials
I have known and worked with Max Portland Brown have worked with Max’s extensive knowledge of the
Thorne and the MRP Group for Max Thorne and the MRP Group for national property market and the
many years and my experience with several years and have always found business sector we operate within,
them has been of a very professional have proven to be invaluable. His
company and individual. them diligent, reliable and deliver as expertise, diligent approach, and use
presented. of contacts have assisted Citystay in
Max is a trustworthy individual and a reviewing, devising and implementing
true professional who has brought a I have no hesitation in recommending our future growth plans.
One of the few UK and
wealth of knowledge and experience them and would be happy to be
to the British Hospitality Association contacted if required. Worthy of special note is Max’s
as well as many commercial insights to honest, reliable and transparent
ANDREW BROWN
London residential
the organisation. communications which allow for
Managing Director
business to be conducted confidently
UFI IBRAHIM Portland Brown and without concern.
Chief Executive
property experts that has
British Hospitality Association NEIL FERNANDEZ
Managing Director
Citystay Limited
constantly been on the
Max has been advising us on strategic
property matters since 2015. He’s
We have recently worked with
Max Thorne to facilitate the
long-term block-letting of 25 of
pulse for over 20 years.
incredibly knowledgeable about the our apartments. Over the course Max is a trustworthy individual and a
UK Serviced Apartments sector, has a of this transaction we were very true professional who has brought a
deep understanding of its dynamics and pleased with Max’s input, his evident wealth of knowledge and experience
a wide and up to date network of key market knowledge and the way the to my business as well as many
property and operator contacts. transaction was efficiently progressed commercial opportunities.
S C OT T H A M I LTO N to a successful conclusion.
Managing Director STEVEN HESKETH
Chief Executive Officer
Clarendon Aga Khan Foundation
The Know Group
J O N AT H A N W E RT H
Managing Director / Life Residential
Max Thorne Interview
So, what are you doing now? Why Serviced Apartments and not Hotels? Are there many significant people that have Who have been the key influencers in your
impacted your career? personal life?
Good question; having just completed the Having spent, very fortunately, a significant part of my career
Brookfield Asset Management transaction of travelling the world and spending 1000’s of nights in hotel rooms, That’s easy, firstly my Grandma, Nora, who passed away
Of course, there are many. Too may to mention
the Oaktree Capital Management Serviced I became a little disillusioned, with coming back to my room, living last year at the grand age of 103. She was a testament to
really, but if I had to call out one, it would be my
Apartment and Aparthotel platform as Lead out of my suitcase, eating in buffets in the lounge (which are life, motivational and inspiring. Secondly my Father, who
first employer Stuart Newman, who really gave
Advisor, for a record breaking sector price, I really no good for me as I’m greedy) or club sandwiches in a tub continues to be my benchmark. He has a set of values I
me a break, after I left school half way through my
have decided to deploy my time putting my chair at the end of my room, bed working or watching pay as you aspire to, he continues to make it easy for me to make
A Levels. We connected at my interview and he
30 years of industry experience back into the go TV. A Serviced Apartment offers me as the consumer, such a sure I maintain my life with fairness and compassion.
mentored me for many years. Sadly, Stuart passed
industry with my personal company the MRP more relaxing in room experience, independence and the chance Lastly and by no means least, my wife Zillah, who is my
a few years ago, but remains an inspiration to me.
Group, which advises and acts for investors, to settle into an environment more in line with home. Todays “wingman” and sanity check. Life is at times very fast and
Since then I have had the privilege of working with
owners, banks and operators in the capacity of Aparthotels and Serviced Apartment brands are really leading can be disconnected, Zillah keeps me on track and in the
many great motivational leaders all of whom I
advisor, translational and or operator search the way with further integration of the guest with connectivity right direction.
respect and continue to admire.
specialist. and interaction through the whole journey. Quite simply I have
more room, more in room amenities, I can cook, wash and relax in What do you do outside of work and home
What have you dedicated so much time to the a living area, for the same price as a hotel room. for yourself.
So, what keeps you busy when you are not
Serviced Apartment sector?
working? I have several hobbies that keep me busy; I’m an avid
I started in the sector back in the early Relatively speaking, you appear to have only had a handful of
scuba diver and whenever possible home and away I try
90’s, I was fortunate enough to join a young jobs throughout your career, was that by design? Home life keeps me busy and sane. I have five to get in the water, I find it a very peaceful experience,
partnership and in a very short time became Not at all, I have always set myself the challenge that if I didn’t children, all boys so we don’t have any dollies in which is strange as I am petrified of snorkelling, don’t
incredibly successful. I thrived on the personal enjoy work, then I would stop and start something else. I have the house, but we do have an excessive number of ask, as I can’t explain. I am also a very keen clay pigeon
approach and the connection we had internally just been incredibly lucky that without exception every job or computers, games and boy’s toys. The two eldest and game shot gun shooter and as a family I and most
and with our customers. I suppose I became role that I have had, I have enjoyed. If the business I’m involved boys are my children and the three youngest boys of the boys try to shoot clays most weekends. Outside
hooked on hospitality. Since then I have been in is flourishing, I like to take part in that growth and have are my wife’s children. I have always wanted a of that I contribute some of my personal time to some
privileged to have had so many great people been fortunate enough to be part of so many winning teams. girl, but sadly it wasn’t meant to be. However, we children focused organisations like Young Enterprise
working with and around me, that it has made Personally, I feel that it’s been a privilege to have the experience I now have four puppy Boston Terrier girls, which is and I also commit time each week to support on a Help
my job easier. have rather than a hindrance. keeping the house busier than ever. Line with a Charitable Organisation.
MRP ADVISORY G ROU P LT D
11-15 High Street, Marlow
Buckinghamshire
SL7 1AU
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