Dominus has completed the sale of Courtyard by Marriott Oxford city centre to Millemont Capital Partners for £74 million, in what it said is the largest urban single asset hotel transaction outside London this year.
It bought the building on Paradise Street in 2014 and redeveloped it as an 160-room four-star hotel. It said in a statement that the hotel has consistently achieved over 90% occupancy over seven years of trading.
Dominus described the sale as part of a strategy of actively managing its portfolio and reinvesting in new value-add, asset management-led hotel investments and development opportunities.
It added in a LinkedIn post that it has been scaling its collaboration with joint venture investment partners, including its most recent acquisition, Ibex House in the City of London, acquired in December in a joint venture with Cheyne Capital, with planning permission secured to convert it into a new 382-room full-service hotel. Following the recent opening of The Derby London City, Curio Collection by Hilton, Dominus said it now operates over 1,000 hotel rooms, with a further 1,700 in the development pipeline in London.
Chief executive Preet Ahluwalia said in a statement: "The successful development of the Courtyard by Marriott Oxford City Centre and seven years of exceptional trading reflects our ability to create value across the full project lifecycle, from investment through planning, development and operations. After 12 years of ownership, now is the right time for us to realise that value and reinvest the capital into new, value-add hotel asset management and development opportunities."
Will Duffey, head of EMEA hotels and hospitality, JLL, said: "This milestone transaction demonstrates our team's ability to secure exceptional assets in markets defined by both scarcity and sustained demand, reaffirming Oxford's position among the UK's best performing and attractive hotel markets."
Millemont Capital Partners is a private equity investment and co-investment firm headquartered in London and founded in 2021.
In April Millemont bought two Crowen Plaza hotels in the South Eastm the 168-room Crowne Plaza Marlow and 174-room Crowne Plaza Reading, for around £80 million. In 2024 it bought the Yotel Edinburgh from Starwood.
JLL advised on the sale.