Business briefs
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Turtle Bay hotel under new management
Hilton Hotels Corp. is turning management of the Turtle Bay Golf and Tennis Resort on O'ahu's North Shore over to a Texas-based company at the end of the month, officials said yesterday.
Hilton would say only that it would leave the management of the 485-room hotel at midnight Aug. 31. Hilton officials said new management will be up to the owner, Oaktree Capital Management LLC.
Employees said they were told Friday that management would change and Benchmark Hospitality, a Texas-based international management company, would take over. Benchmark Vice President of Sales and Marketing Jack Schmidt said the company is finalizing the details of a contract and anticipates assuming management at Turtle Bay on Sept. 1.
Eric Gill, head of Local 5 of the Hotel Employees and Restaurant Employees, said the union expects no disruptions. The employees are not at risk because they work for Oaktree and not Hilton, he said.
The hotel and golf course are undergoing a $30 million renovation.
Barnwell profits increase 3 percent
Barnwell Industries Inc., a Honolulu-based oil and exploration company, reported net earnings of $740,000, or 55 cents a share, up 3 percent for the quarter ended June 30, from $720,000, 53 cents a share, the same quarter a year ago.
Revenues rose to $5.8 million, from $5.2 million.
For the first nine months, the company earned $3.7 million, or $2.68 a share, down from $3.9 million, $2.88 a share, a year ago. Revenues were down to $19.9 million from $20.9 million.
The company said year-to-date figures as of June 2000 included gains related to selling the right to develop residential parcels in the Four Seasons Resort Hualalai at Ka'upulehu.
Legacy to run Maui Park units
HONOKOWAI, Maui — Legacy Partners Residential Inc. has been selected by Del Mar Pacific Group to manage the 288-unit Maui Park apartments. Units at Maui Park recently were upgraded and converted from short-term vacation rentals into long-term apartment rentals.
Legacy Partners handles more than $4 billion in commercial properties and multifamily communities.
