Crossways, Dartford United Kingdom (PressExposure) September 27, 2007 -- The historic Tower House Hotel, which forms part of the medieval city walls, has been acquired by the national hotel and leisure group for an undisclosed sum, believed to be in excess of six figures. The acquisition marks a further phase of a substantial investment programme for the chain which has already seen Â£2.7m worth of major refurbishment and improvement projects since its launch in September 2006.
Following the acquisition, work is set to start on the hotelâs refurbishment and Oxford Hotels has signalled its intention to retain the existing workforce. The planned improvement programme will retain the character and charm of the property, whilst maximising its potential due to its fantastic location and views over Jesus College and the historic city of Oxford.
Mark Edwards, managing director of Oxford Hotels & Inns, comments: âThe purchase of the Tower House Hotel is an important milestone in our development as we look to firmly establish ourselves as a leading UK hotel brand. This acquisition has formed part of a strategic Â£3m programme that will be carried out over the next six months which includes upgrades, refurbishments and investment in our existing portfolio.â
Oxford Hotels & Inns operates a portfolio of more than 60 hotels and inns and 170 pubs across the UK including the Carnoustie Golf Hotel, home of this yearâs Open Golf Championship, Stonefield Castle at Loch Fyne in Scotland, Derwent Manor Hotel Northumberland and the Cornwallis Hotel in Suffolk. Further information on the full range of hotels can be found at [http://www.oxfordhotelsandinns.com]