Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.
Maslow Capital Funds €21.3m Extended-Stay Hotel in Cork’s Georgian Quarter
Maslow Capital has provided a €21.3 million senior development facility to JMK Group for the construction of a 103-key extended-stay hotel in Cork’s Georgian Quarter. The project is scheduled for completion in December 2027.
The new hotel will operate under Hilton’s Tapestry Collection brand and will be located within a protected Georgian terrace designed by 19th-century architect Sir Thomas Deane. The development involves refurbishing the existing terrace and adding a six-storey rear extension, while retaining the heritage façade.
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 has previously delivered the Moxy and Residence Inn Cork properties.
According to the report, the development targets both corporate and leisure guests in what is described as a supply-constrained city-centre hotel market. The site is within walking distance of Cork’s transport links and cultural amenities.
The financing comes at a time when residential landlords are shifting to commercial property 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.
The Cork project represents Maslow Capital’s continued activity in the Irish hospitality development market, with a focus on branded extended-stay concepts in urban locations.
Source: PropertyWire