Integral cross sections and pressure broadening coefficients have been measured for the acetylene-krypton complex, by molecular beam scattering and by high resolution IR spectroscopy, respectively. A new potential energy surface ͑PES͒ is proposed to describe structure and dynamical properties of this prototypical weakly bound complex. The PES has been parametrized exploiting a novel atom-bond pairwise additive scheme and has been fitted to the experimental data. A similar PES has been obtained for the acetylene-xenon system by a proper scaling of the interaction parameters of the krypton case, based on empirical considerations. These PESs together with that recently proposed by the same authors ͓J. Phys. Chem. 109, 8471 ͑2005͔͒ for the acetylene-argon case have been employed for close coupling calculations of the pressure broadening cross sections and for a characterization of the rovibrational structure of the complexes.