Paramount buys Oxford hotel
12 July 2000
Paramount Hotels has bought the Oxford Moat House from the Queens Moat House Group for £11.2m.
Paramount, which is majority-owned by venture capitalist Alchemy Partners, intends to invest £7m from this autumn in an 18-month refurbishment programme to improve the hotel. Plans include a new roof, better bedrooms and a conference centre.
The hotel has been renamed the Oxford Hotel. It has 155-bedrooms and is two miles outside the city.
Paramount now 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. Target cities include both London and Glasgow.
by David Harris david.harris@rbi.co.uk
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