By the Caribbean Journal staff

One of the top resorts in Turks and Caicos has been sold.

Grace Bay Resorts has acquired the boutique Point Grace resort on Grace Bay Beach, the company announced in a release.

Grace Bay Resorts has assumed ownership and management of the property effective immediately.

Point Grace will be rebranded as a Grace Bay Resorts property, while retaining the Point Grace name.

GBR plans “gradual improvements” over the next several months, it said.

“We are honored to have been selected by the resort’s longtime owner to assume this role and include Point Grace in the Grace Bay Resorts group,” said Mark Durliat, chief executive officer and principal of Grace Bay Resorts. “The original owner was a true pioneer in establishing this idyllic luxury resort and its dedicated staff have done an incredible job of establishing its strong presence in the marketplace.”

Point Grace features a collection of 35 suites, along with two restaurants and a spa program, among other amenities.

The hotel is part of the Small Luxury Hotels of the World collection.

“We are delighted to welcome Point Grace to the Grace Bay Resorts family,” said Nikheel Advani, chief operating officer and principal at Grace Bay Resorts. “We believe in this impeccable product as well as the dedicated employees and will continue to enhance the guest experience in the years to come. We are confident that we will be able to complement the work which is already being done at Point Grace and help the resort reach its full potential.”

Grace Bay Resorts’ collection also includes the Grace Bay Club, the West Bay Club, The Private Villa Collection and the soon-to-open Rock House.