The Celtic Manor Resort has acquired the Hilton Newport hotel, adding 148 bedrooms and nine meeting rooms to its portfolio.

Rising occupancy levels have prompted the move, said Ian Edwards, CEO of the South Wales resort that hosted the 2014 NATO Summit.

Contracts have been exchanged on the deal which will see Celtic Manor continue to run the property as a hotel, adding to the current residences including the main Resort Hotel, the Manor House, the Newbridge on Usk, which was acquired in 2010, and 10 luxury Hunter Lodges.

The Hilton Newport is less than a mile from the 2,000 acre Celtic Manor and also includes a fitness room, swimming pool, spa bath, bar, lounge and restaurant.

Celtic Manor CEO Ian Edwards said: “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.”

The resort is also set to begin work this year on a 4,000 capacity convention centre, for which planning consent was awarded in 2015.