As one who is actively involved in several environmental organizations, there is info missing on which to make a decision so it is difficult to support or oppose this particular case.

You can have local bad operators and good foreign operators and vice versa so transfer of ownership is not sufficient grounds to protest or boycott.

I go to both types of resorts, ie. ecologically more friendly and just plain tourist resorts. I live in a city that has already destroyed a lot of its natural habitat but it doesn't mean to say I can't be concerned about more habitat loss. Unless it was an obvious intrusion on a recognized area of environmental significance or they were developing beyond the carrying capacity of the reef (or whatever feature is getting most use), I likely wouldn't have a problem going to the resort. I have and would be happy to protest inappropriate developments. I often take my cue from credible environmental organizations (I know, everyone has their own definition) and from reading a bit on the subject.

Constructive criticism can often turn a mediocre project into a good one but seldom can turn a really bad project into a good one.