New time-share management

Advertiser Staff

Hilton Grand Vacations Co. will take over management and sales of the The Bay Club at Waikoloa Beach Resort time-share operation on the Big Island but the change will mean layoffs of an unspecified number of the 171 employees, the companies announced yesterday.

The management change takes effect Jan. 1 and involved no exchange of cash, said Richard Lachmann, secretary of The Bay Club Ownership Resort Inc. It came after company officials said last month that their Tokyo-based parent company, Azel Corp., was changing philosophies and making operational changes.

"We've been an affiliate of Hilton since 1999," Lachmann said. "As an affiliated resort, it just made sense at this point, given the parent company's circumstances, to naturally reach out to Hilton."

Hilton Grand Vacations Club, based in Orlando, Fla., is the time-share division of California-based Hilton Hotels Corp.

A spokesman for Hilton Grand Vacations Club said there will be job cuts but the company hopes to hire many current Bay Club employees.