Paramount buys in Oxford
20 July 2000
Paramount Hotels has bought the Oxford Moat House from Queens Moat Houses Hotels for £11.2m.
Paramount, majority owned by venture capitalist Alchemy Partners, intends to spend £7m on an 18-month refurbishment programme of improvements to the hotel.
Work will start in the autumn and plans include a new roof, better bedrooms and a conference centre.
The 155-bedroom hotel, which is two miles outside the city, has been renamed the Oxford hotel.
Paramount is already engaged in a £13m programme to improve several other hotels in the group.
It has 16 hotels, including the Imperial hotels in Torquay and Blackpool, the Majestic in Harrogate and the Carlton in Edinburgh.
Paramount is keen to expand further, with London and Glasgow both target cities.
