The Celtic Manor Resort has exchanged contracts to acquire a 148 guest room property which is currently trading as Hilton Newport.

The acquisition will add to Celtic Manor’s portfolio of guest residences which include the main Resort Hotel, the Manor House, the Newbridge on Usk, and ten luxury Hunter Lodges.

The new owner plans to continue running its latest acquisition as a hotel, under a new name yet to be confirmed, once the contracts are completed at 13:00 on March 31st.

It will become Celtic Manor’s second acquisition outside of its 2,000-acre estate following the Newbridge on Usk in 2010.

The new addition has 148 guest rooms and nine meeting rooms while also providing many amenities including a fitness room, swimming pool, spa bath, bar, lounge and restaurant.

All hotel team members will be retained when Celtic Manor takes over the property.

Ian Edwards, chief executive of the Celtic Manor Resort, said: “We are extremely pleased to be exchanging contracts to acquire Hilton Newport and look forward to working with the experienced team there as the hotel transitions to our ownership and management.

“We are always looking to expand and build upon our successful business.at the Celtic Manor Resort whilst continuing to help support the local community and economy.

“Occupancy at the Celtic Manor Resort is currently running at 90 per cent and there are many nights when we could easily exceed our capacity of 400 bedrooms.

“The additional bedrooms at the newly-acquired hotel will help address our need for more accommodation across all our markets – conference and business, golf and leisure.

“The property is in a wonderful position very close to Celtic Manor and enjoying the same immediate access from the M4 motorway.

“I am sure it will prove very popular with guests staying at the Celtic Manor Resort.”

Host venue for the 2014 NATO Summit and the 2010 Ryder Cup, the five-star Celtic Manor Resort provides a complete experience for business and leisure travellers with its three championship golf courses, two exceptional spas, award-winning convention centre and an abundance of family activities.