Hamilton Island, one of the Popular Tropical Getaway on the World Heritage Reef, Reportedly Acquired by US Investment Giant.
An iconic resort island situated on the Great Barrier Reef has reportedly been sold to a US-based private equity firm for a sum said to be worth 1.2 billion Australian dollars.
“It is an honor to continue the vision and dedication of the family owners has built in the center of the World Heritage-listed Great Barrier Reef,” said a company executive.
The Reported Sale
Headquartered in New York, Blackstone – the owner of the hospitality group Crown Resorts – confirmed it had signed an deal to purchase the Hamilton Island resort from the Oatley family owners, subject to customary approvals from regulators.
The sellers issued a comment saying they welcomed the change in ownership of an island that holds a “special place in the affections of many Australians” and is known as “Australia’s Tropical Island”.
Hamilton Island's Scale and Features
Positioned roughly 900 kilometers north of Brisbane and about 500km south of Cairns, Hamilton covers more than 1,130 hectares across two islands.
Roughly 30% of the area is built upon, including a substantial range of facilities:
- Five separate hotels
- Over twenty restaurants and bars
- Twenty shops and retail spaces
- An championship 18-hole golf course on neighboring Dent Island
- A marina and a commercial airport
Hamilton Island is described as a major job provider in the Whitsundays, supporting a large on-island community and workforce, as well as a broad network of local partners, suppliers, and area businesses.
A Look Back at Ownership
The late billionaire Robert Oatley, a renowned sailor and vintner, originally purchased the resort for A$200 million in 2003 after spotting the island from the deck a yacht while sailing through the Whitsundays.
Hamilton's development boom initially started in the 1980s. For decades prior that, it was characterized by simple iron huts and modest accommodations that housed domestic holidaymakers from the outback and southern states.
The Buyer's Other Holdings and Local Heritage
Blackstone also owns luxury hotels and resorts in several countries, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the traditional lands and seas of the Ngaro Indigenous 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.
