Hilton in the UK has sold the Hilton National in Newport, South Wales under its scheme to shed hotels that do not fit with the rest of its portfolio.
The property, sold through Christie & Co, will be refurbished and converted to a Holiday Inn by new owner Qamar Ahmed, who already owns a Holiday Inn in Aylesbury, Buckinghamshire, and one in Sandy, Bedfordshire.
Hilton was asking £5m for the hotel but it is understood to have sold for about £4.25m.
Ahmed managed to strike the deal at 11pm on Monday, one hour before a rise inthe stamp duty on property from 2% to 3% of the purchase price.
Five of Hilton's hotels remain on the market: the Hilton National, Swansea; the Sherlock Holmes, London; the Ringway Hotel, Basingstoke; the Palms Hotel, Hornchurch; and the Royal Berkshire, Ascot.