Maslow Capital has provided a €21.3 million senior development facility to JMK Group for a 103-key extended-stay hotel in Cork’s Georgian Quarter. The development is scheduled for completion in December 2027.
The hotel will operate under Hilton’s Tapestry Collection brand and is located within a protected Georgian terrace designed by 19th-century architect Sir Thomas Deane. The project involves refurbishing the existing terrace and adding a six-storey rear extension whilst retaining the heritage façade.
Developer profile
JMK Group, established in 2009, operates a portfolio of approximately 2,000 hotel rooms across the UK and Ireland under franchise agreements with Hilton, IHG and Marriott. The company previously delivered the Moxy and Residence Inn Cork properties.
Oliver Lawlor, director of origination for Ireland at Maslow Capital, said the transaction reflects the lender’s approach to supporting hospitality projects in regional city centres. “This transaction demonstrates Maslow Capital’s ability to support experienced hospitality sponsors on complex, heritage-led development projects in strong regional city-centre locations,” he stated.
Extended-stay sector focus
Aron Connolly, director of lending solutions for UK and Europe at Maslow Capital, noted the sector’s performance across Europe. “The extended-stay sector continues to demonstrate remarkable resilience and structural growth across Europe,” he said, adding that the facility reflects the lender’s focus on operational real estate.
The development targets both corporate and leisure guests in what the parties describe as a supply-constrained city-centre hotel market. The site is located within walking distance of Cork’s transport links and cultural amenities.
Zain Kajani, director at JMK Group, described the project as a continuation of the company’s Cork investment strategy, combining protected Georgian architecture with modern hotel standards.
The financing comes as residential landlords shift to commercial amid tax pressures, reflecting broader changes in property investment patterns. The hospitality sector has attracted increased attention from specialist lenders as traditional residential investment faces headwinds from stamp duty costs that deter homeowners from moving.
The Cork project represents Maslow Capital’s continued activity in the Irish hospitality development market, targeting branded extended-stay concepts in urban locations.
