Real estate and hospitality company AJ Capital Partners has acquired the Coral Sands Hotel in the Bahamas.
The Harbour Island hotel is undergoing a renovation, and a reopening is planned for Dec. 1.
The first phase of the restoration will focus on the beachfront hotel's accommodations and public spaces. In a statement, AJ Capital CEO Ben Weprin said the company is "dedicated to preserving the property's unique character and charm."
Opened in 1968, Coral Sands is home to 24 guestrooms, six bungalows, eight cottages and three four-bedroom residences as well as two restaurants. The property is accessible via a 20-minute flight from Nassau or a 50-minute flight from Miami.
Reservations for stays beginning in December are now open.
The move comes as AJ Capital, which recently sold Graduate Hotels to Hilton, shifts its focus to building new hospitality concepts, such as the outdoors-focused Field & Stream Lodge Co., co-created with Starwood Capital Group, and Hotel 1928, a venture with TV personalities Chip and Joanna Gaines.