A BUDGET hotel in Newport has been sold to a private buyer for an undisclosed price.

The 103-bedroom Ibis Budget Newport is marketed as a "smart choice economy hotel, open to everyday adventurers".

The hotel, which opened in 2008, is located next to the Brynglas Tunnels and M4 Junction 26.

The same private buyer has also acquired the 99-bedroom Hotel Ibis Swansea, according to estate agency Savills, which oversaw the sales.


The two hotels will now be leased to AGO Hotels, which Savills describes as "a hybrid lease operator providing a combination of guaranteed fixed rent and profit participation".

James Greenslade, director in the hotel capital markets team at Savills, said: "On behalf of our private clients we are delighted to have completed the sale of these two well connected hotels which have been added to AGO’s growing hotel portfolio.

"Domestic consumer demand has been resilient and as numbers of international travellers and live events continue to grow, we expect hotels in locations that can service this demand to perform well."

The Ibis Budget Newport was formerly branded as an ETAP hotel, and was built on the site previously occupied by the Euro Commercials haulage repairs business.

In 2014, when the city hosted a NATO summit, it was one of several hotels in the area which were used to accommodate thousands of journalists and other staff working at the event.