Acer,
Colleges offer many of the same services, including lodging, food, chapel, MCR, social activities, sports, etc. but these often vary widely; so you should research and choose based on the things which are important to you. For instance, Queen's college doesn't offer accomodation, Magdalen offers only one place for an MBA (but gives a full room/board scholarship for that individual), some colleges have great food (Corpus Christi?), some have decent food at a great price, some have 500 year old rooms (that is often more of a minus than a plus), some have newly renovated rooms (Exeter - site of fictional Jordan College in The Golden Compass), some have scholarships for books and travel (Jesus College), some have huge endowments (St John's - which owns the Eagle and Child Pub, the site of meetings between Oxford's CS Lewis, JRR Tolkien and other writers), some are located close to the SBS building (Worchester) while others are far away (St Catherine's), some colleges are small, big, pastoral, or reputed to be lively, or quiet, some have great sports teams (the New College rowing team won an olympic gold medal) while others have small teams and you might have a better chance of landing on their varsity squad, some are tourist attractions (Christ Church - which has its own cathedral and was used in filming of Harry Potter), some have famous grads (Bill Clinton - University College, Adam Smith - Balliol College, Lawrence of Arabia, Benezir Bhutto, Stephen Hawking, Andrew Lloyd Weber, John Locke, Kings, Saints, Popes, Nobel Prize winners, etc), some are predominantly for older graduates with families, or have great grad housing (Brasenose has grad housing right across from SBS), or focus on the MBA community (Green Templeton), etc etc...
When you get a job, your employer likley won't care which college you went to (your CV will say Oxford MBA),
so research and choose based on what is important for you and your experience.
Here are a couple links to get you started:
https://push.co.uk/Uni-profiles/s.htm (scroll through for Oxford)
https://en.wikipedia.org/wiki/Colleges_o ... _of_Oxford