Raintree does not operate anything at Kona Reef; Kona Reef is an "Associate" resort. As I understand, Kona Reef simply has an arrangement with RVC to share some inventory, or perhaps RVC owns some units at Kona Reef. But RVC does not own or operate the resort.
****
That being said, I can easily envision that Diamond might make a play for the Kona Reef management contract. I'm fairly sure that Diamond has been looking for some time to acquire some inventory on the Big Island.
Last week we were told by the Sales Manager at Point at Poipu that Diamond had tried to acquire some existing non-timeshare resorts on other islands but had backed off when governmental agencies did not consent to the conversion to timeshare. Could be the usual sales person spiels, but in this case I do have a bit of additional information to think this might actually be true. And if it is true, one way around that would be to move in on a resort that is already a TS. Hence I can see how taking over the management contract at Kona Reef would make sense.