Hamilton Island, one of the Popular Queensland Holiday Destination on the World Heritage Reef, Reportedly Sold by American Private Equity Firm.
An iconic resort island located on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based investment group in a deal said to be worth A$1.2 billion.
“It is an honor to continue the vision and dedication that the family owners has established in the heart of the World Heritage-listed Great Barrier Reef,” said a senior representative.
The Reported Acquisition Agreement
The New York-headquartered, Blackstone – which also owns the hospitality group Crown Resorts – confirmed it had signed an agreement to acquire the island resort from the Oatley family owners, pending customary regulatory approvals.
The family released a statement saying they were pleased with the new owners of an island that holds a “unique position in the affections of countless Australians” and is known as “Australia’s Tropical Island”.
Hamilton Island's Size and Amenities
Located almost 900km north of Brisbane and about 500km south of Cairns, the island spans over 1,130 hectares spanning two separate islands.
Approximately thirty percent of the area is built upon, including a substantial array of amenities:
- Five separate hotels
- Over twenty restaurants and bars
- 20 retail outlets
- An 18-hole championship golf course on adjacent Dent Island
- A marina and a commercial airport
The resort is described as a significant employer in the Whitsundays, sustaining a large on-island community and workforce, as well as a wide network of regional partners, suppliers, and area businesses.
A Look Back at The Island's History
The late billionaire Robert Oatley, a well-known sailor and winemaker, first bought the resort for A$200 million in the year 2003 after spotting the island from the deck a yacht during a voyage through the Whitsunday passage.
The island's major development phase first began in the 1980s. In the decades before that, it was home to galvanised iron huts and more humble quarters that hosted domestic holidaymakers from inland areas and from the south.
Broader Portfolio and Local Heritage
The acquiring firm also owns hotels and luxury resorts in multiple nations, including Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the traditional lands and seas of the Ngaro people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
