Hamilton Island, a Popular Tropical Getaway on the Great Barrier Reef, Reportedly Set to be Sold by American Investment Giant.
A major resort island situated within the World Heritage-listed Great Barrier Reef has reportedly been sold to a American private equity firm in a deal said to be worth A$1.2 billion.
“It is an honor to continue the legacy and commitment that the family owners has built in the center of the World Heritage-listed Great Barrier Reef,” stated a senior representative.
The Reported Sale
Headquartered in New York, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had entered into an deal to purchase the island resort from the Oatley family owners, subject to standard regulatory approvals.
The family issued a comment noting they welcomed the change in ownership of an island that holds a “unique position in the hearts of many Australians” and is known as “Australia’s Tropical Island”.
The Island's Size and Amenities
Positioned almost 900km north of Brisbane and about 500km south of Cairns, the island covers over 1,130 hectares across two islands.
Approximately 30% of the land is built upon, including a substantial range of amenities:
- Five separate hotels
- Over twenty restaurants and bars
- 20 retail outlets
- An championship 18-hole 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 staff, as well as a wide network of regional partners, suppliers, and area businesses.
Historical Context at Ownership
The deceased billionaire Robert Oatley, a renowned sailor and winemaker, originally purchased the resort for $200 million in 2003 after spying the island from the deck a yacht during a voyage through the Whitsunday passage.
Hamilton's major development phase initially started in the 1980s. For decades prior that, it was characterized by simple iron huts and more humble quarters that housed domestic holidaymakers from inland areas and from the south.
The Buyer's Other Holdings and Regional Background
Blackstone has ownership of luxury hotels and resorts in multiple countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the traditional lands and seas of the Ngaro people. Its name derives from Captain James Cook, who navigated the Endeavour through the archipelago on Sunday 3 June 1770, which was Whit Sunday.
