Maslow Capital Advances €21.3m Funding for JMK Group’s Historic Cork Hotel Project

Maslow Capital has extended a €21.3 million senior development loan to JMK Group to facilitate the construction of a 103-key extended-stay hotel in Cork’s Georgian Quarter. The hotel will operate under the Tapestry Collection by Hilton brand.

The development involves refurbishing a protected Georgian terrace designed by Sir Thomas Deane, a notable 19th-century architect from Cork, and adding a new six-storey extension at the rear. The project aims to preserve the heritage façade while delivering contemporary extended-stay accommodation aligned with Hilton’s standards.

Situated in a prime city-centre location, the hotel will cater to both corporate and leisure travellers, offering convenient access to Cork’s cultural sites and major transport links. Completion is targeted for December 2027, introducing a unique branded extended-stay option to Cork’s limited city-centre hotel market.

Founded in 2009, JMK Group is a family-owned hospitality developer and operator with a portfolio of approximately 2,000 rooms across the UK and Ireland, including hotels under Hilton, IHG, and Marriott franchises. The group has an established presence in Cork, having developed and operated the Moxy & Residence Inn Cork.

Oliver Lawlor, Director of Origination (Ireland) at Maslow Capital, stated: “This transaction demonstrates Maslow Capital’s ability to support experienced hospitality sponsors on complex, heritage-led development projects in strong regional city-centre locations. JMK Group’s track record, the strength of the location, and the differentiated Hilton-branded extended-stay proposition give us strong conviction in the scheme’s long-term fundamentals.”

Aron Connolly, Director of Lending Solutions (UK & Europe) at Maslow Capital, added: “The extended-stay sector continues to demonstrate remarkable resilience and structural growth across Europe. In a supply-constrained market like Cork, assets that cater to both long-term corporate demand and leisure travel offer a highly compelling investment profile. Our appetite to fund specialized operational real estate is growing, and this facility reflects our strategic focus on backing high-performing, differentiated hospitality models.”

Zain Kajani, Director at JMK Group, commented: “This asset is a natural continuation of our investment in Cork, combining the character of a protected Georgian terrace with the standards expected of a modern, internationally branded hotel. Maslow Capital showed a strong understanding of the operational real estate sector, the Hilton-branded proposition, and the delivery considerations involved in a heritage-led scheme. Their commercial approach, clear execution, and understanding of our business plan gave us confidence throughout the financing process.”