The Hamilton Island Resort, one of the Iconic Queensland Getaway on the World Heritage Reef, Reportedly Sold by US Private Equity Firm.
A major resort island situated within the Great Barrier Reef has reportedly been sold to a American private equity firm for a sum said to be worth A$1.2 billion.
“We are honored to continue the vision and dedication that the family owners has built in the center of the World Heritage-listed Great Barrier Reef,” said a senior representative.
The Reported Sale
The New York-headquartered, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – confirmed it had entered into an agreement to acquire the island resort from the Oatley family owners, pending standard regulatory approvals.
The family released a statement noting they welcomed the change in ownership of an island that holds a “special place in the hearts of countless Australians” and is known as “Australia’s Tropical Island”.
The Island's Size and Amenities
Positioned roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans over 1,130 hectares spanning two separate islands.
Approximately thirty percent of the land is built upon, featuring a substantial range of amenities:
- Five separate hotels
- More than 20 restaurants and bars
- 20 retail outlets
- An 18-hole championship golf course on adjacent Dent Island
- A marina and a functioning airport
The resort is described as a major job provider in the Whitsunday region, sustaining a sizable resident community and staff, as well as a wide network of local partners, suppliers, and local businesses.
A Look Back at The Island's History
The deceased Robert Oatley, a renowned yachtsman and winemaker, first bought the resort for $200 million in the year 2003 after spotting the island from aboard a yacht during a voyage through the Whitsundays.
Hamilton's major development phase initially started in the 1980s. For decades prior that, it was characterized by galvanised iron huts and modest accommodations that housed domestic holidaymakers from inland areas and southern states.
Broader Portfolio and Regional Background
Blackstone also owns hotels and luxury resorts in several nations, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the ancestral territory of the Ngaro people. The name comes from Captain James Cook, who sailed the Endeavour through the island group on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
