The owners of Oxford's landmark Randolph Hotel have joined a new hotel group.

The rights to the Graduate Hotels brand has been bought by Hilton for $210million dollars.

AJ Capital, which owns Graduate Hotels, will remain the owner of the properties, including The Randolph Hotel, each of which will be operated under long-term Hilton franchise agreements.

Graduate Hotels builds and runs 33 hotels near US and UK universities. The Randolph was the second Graduate Hotels property to launch outside of the US, following the Graduate Cambridge.

Graduate Hotels bought the Randolph from the Macdonald group and started a major refurbishment in 2020 before it reopened in autumn 2021.

The renovation of the Grade II-listed building was inspired by Oxford history and tradition and features The Morse Bar and The Alice restaurant.

About 150 guests from groups and organisations across the city were invited to the opening of the Beaumont Street hotel for cocktails and a disco in the renovated ballroom.

Hilton CEO Chris Nassetta said in a statement: “We believe the addressable market for the Graduate brand is 400-500 hotels globally."

Hilton announced the brand would become available on its booking site and app “later this year.”

The transaction is expected to close in the second quarter, subject to customary closing conditions.