The Hamilton Island Resort, one of the Popular Tropical Getaway on the World Heritage Reef, Reportedly Set to be Sold by US Investment Giant.
An iconic tropical holiday destination situated on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based private equity firm in a deal reportedly valued at 1.2 billion Australian dollars.
“It is an honor to continue the vision and dedication of the Oatley family has established in the center of the World Heritage-listed Great Barrier Reef,” said a company executive.
Details of the Sale
Headquartered in New York, Blackstone – which also owns the casino-hotel chain Crown Resorts – announced it had entered into an deal to purchase the Hamilton Island resort from the Oatley family owners, pending customary approvals from regulators.
The sellers released a statement saying they welcomed the change in ownership of an island that holds a “unique position in the affections of countless Australians” and is referred to as “Australia’s Tropical Island”.
The Island's Size and Amenities
Located almost 900km north of Brisbane and about 500km south of Cairns, Hamilton spans more than 1,130 hectares spanning two separate islands.
Roughly thirty percent of the area is built upon, featuring 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 boat marina and a functioning airport
Hamilton Island is noted as a major job provider in the Whitsunday region, supporting a large on-island community and workforce, as well as a broad network of regional partners, vendors, and local businesses.
Historical Context at Ownership
The late billionaire Robert Oatley, a renowned yachtsman and winemaker, first bought the resort for $200 million in the year 2003 after spying the island from the deck a yacht while sailing through the Whitsunday passage.
The island's development boom initially started in the 1980s. In the decades before that, it was home to simple iron huts and more humble quarters that hosted domestic holidaymakers from the outback and from the south.
The Buyer's Other Holdings and Local Heritage
Blackstone also owns luxury hotels and resorts in several countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the ancestral territory of the Ngaro Indigenous people. Its name comes from Captain James Cook, who navigated the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was Whit Sunday.
