The upscale coastal resort Cliff House Maine in Cape Neddick will reopen in August, following the first phase of a $40 million revitalization project, the resort’s owner said Tuesday.

The historic resort, formerly known as The Cliff House Resort & Spa, is situated on 70 oceanfront acres atop Bald Head Cliff. It was purchased in April 2014 from Kathryn Weare by Rockbridge, a private equity firm based in Columbus, Ohio. The renovation project began in fall 2015.

When it reopens in August, the resort will have fewer guest rooms – 132 rooms compared with 166 rooms prior to the renovation, according to a news release. The rooms have been redesigned, and the resort also has added more than 25,000 square feet of meeting and event space, allowing Cliff House to cater to corporate events, meetings and presentations.

The resort will expand further with additional guestrooms and an adults-only pool in spring 2017, the release said.

Rockbridge isn’t new to Maine. It partnered with Portland-based New Castle Hotels on the revitalization and rebranding of The Westin Portland Harborview, formerly the Eastland Park Hotel. The Portland Harborview, the first Westin-branded hotel in Maine, reopened in December 2013 after a complete restoration. Destination Hotels  manages Cliff House.

Opening rates for the revitalized Cliff House will start at $449 per night, according to the release.

Correction: This story was revised at 11:52 a.m., June 9, 2016, to reflect that Destination Hotels manages Cliff House. An earlier version of this story misidentified the resort’s manager.