€21.3m Development Loan Backs 103-Key Hilton Hotel in Cork’s Georgian Quarter
Maslow Capital finances heritage-led extended-stay hotel as investor appetite for operational real estate continues to strengthen across Ireland’s regional cities.
8 July 2026 | editor@irishrealestate.news
Maslow Capital has agreed a €21.3 million senior development facility to finance the delivery of a 103-key extended-stay hotel in Cork city centre, adding further momentum to investor activity in Ireland’s operational real estate sector.
The funding will support JMK Group’s development of a Hilton-branded hotel within Cork’s Georgian Quarter, where a protected terrace designed by renowned Cork architect Sir Thomas Deane will be restored and integrated with a new six-storey extension. Scheduled for practical completion in December 2027, the scheme will operate under Hilton’s Tapestry Collection brand.
The transaction highlights continued lender confidence in specialist hospitality assets despite ongoing construction and financing challenges, with extended-stay accommodation increasingly attracting institutional and private capital across Europe due to its diversified income profile and operational resilience.
Located in Cork city centre, the development is designed to serve both corporate and leisure demand, benefiting from proximity to major employers, transport links and the city’s tourism and cultural attractions. The project also reflects the growing trend of combining heritage conservation with modern commercial development, preserving historic façades while delivering contemporary hospitality accommodation.
For investors, the financing underlines Cork’s continuing appeal as a regional investment market. The city has experienced sustained hotel demand in recent years while new branded supply has remained relatively limited, supporting the investment case for differentiated accommodation formats such as extended-stay hotels.
JMK Group has become an increasingly active hospitality developer across Ireland and the UK since its establishment in 2009. The privately owned company now owns, develops and operates a portfolio of approximately 2,000 hotel rooms under international brands including Hilton, Marriott and IHG, with additional developments currently under construction. In Cork, the group has already established a presence through the delivery of the Moxy Hotel and Residence Inn by Marriott.
Maslow Capital, meanwhile, continues to expand its Irish lending activity as part of a wider European real estate finance platform. The lender has funded €12.6 billion of real estate projects across Europe and provides financing ranging from €2 million to €750 million for development, refurbishment, stabilisation and specialist operational real estate assets.
The Cork transaction also reflects increasing lender interest in operational real estate, a sector encompassing hotels, student accommodation, healthcare, later living and other income-producing assets where performance is linked to operating businesses rather than conventional rental income. As traditional commercial property markets continue to evolve, many investors are increasing allocations towards these operational asset classes in search of diversified returns and long-term income growth.
Once completed, the Cork development will introduce a new internationally branded extended-stay offering into the city’s hospitality market while delivering the restoration of one of the Georgian Quarter’s protected architectural assets alongside a significant new hospitality investment.