Island Vacations of Sanibel & Captiva Inc. was sold to Gulf Coast Vacation Rentals, a division of Gulf Coast Property Management, in early June, adding to its portfolio of vacation rental services along with property management, association management, home watch services and real estate investment services. Founder Fran Peters decided to sell the company to retire after more than 50 years in the hospitality industry. Island Vacations will continue to operate under the same name.