AJ Capital Partners, a real estate investment manager, has announced the acquisition and commencement of restoration efforts for the Coral Sands Hotel.
Opened in 1968, the beachfront resort is situated on Harbour Island in the Bahamas, US.
Nestled along the Pink Sand Beach, the property comprises 24 guest rooms, six bungalows, eight cottages, and three luxurious four-bedroom residences, in addition to two restaurants.
The resort will undergo renovations in a multi-phased manner.
AJ Capital Partners' restoration plan is set to enhance the guest experience by updating rooms and communal area while retaining the resort's classic Caribbean essence.
Chorten Wangyel, a seasoned professional in Harbour Island's hospitality sector, has been appointed as general manager to oversee the property's reopening in December 2024.
The resort is now accepting reservations for stays following reopening.
AJ Capital Partners CEO Ben Weprin said: "Coral Sands has been an integral part of Harbour Island's rich history for over half a century. We are dedicated to preserving the property's unique character and charm, ensuring it remains an incredibly special and meaningful part of the island's fabric for generations to come."
The announcement comes after AJ Capital Partners successfully divested its Graduate Hotel, a ten-year-old company that owns and operates dozens of hotels, to Hilton in a deal valued at $210m, earlier this year.
