Vineyard hotelier Mark Snider is expanding his interests to Nantucket, where he is set to buy The Point Breeze, a historic hotel on the Vineyard’s sister island. Mr. Snider owns the Winnetu Oceanside Resort at Katama in Edgartown. He is also president of Stanmar Inc., a building company in Wayland.

The Nantucket Inquirer and Mirror reported on Thursday that Mr. Snider has signed a deal to buy the Point Breeze from TD Bank, which has owned the hotel since it fell into foreclosure two years ago. Purchase price has not been disclosed.

“My hope is that we can make this property a wonderful asset to the community,” Mr. Snider told Inquirer and Mirror senior writer Jason Graziadei.

The Point Breeze has a rich history on Nantucket that dates to 1891. The formerly family-owned hotel has sat vacant since plans by a previous developer to convert to luxury condominium residences fell apart three years ago.