The Hamilton Island Resort, one of the Popular Tropical Getaway on the Great Barrier Reef, Reportedly Acquired by US Investment Giant.
An iconic resort island situated on the Great Barrier Reef has reportedly been sold to a American investment group for a sum said to be worth A$1.2 billion.
“It is an honor to continue the legacy and commitment of the Oatley family has established in the heart of the World Heritage-listed Great Barrier Reef,” said a company executive.
Details of the Sale
The New York-headquartered, 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 customary regulatory approvals.
The family issued a comment noting they were pleased with the change in ownership of an island that holds a “special place in the affections of countless Australians” and is known as “Australia’s Tropical Island”.
The Island's Size and Amenities
Located roughly 900 kilometers north of Brisbane and about 500km south of Cairns, Hamilton spans more than 1,130 hectares across two islands.
Roughly thirty percent of the land is developed, including a substantial array of amenities:
- Five hotels
- More than 20 restaurants and bars
- Twenty shops and retail spaces
- An championship 18-hole golf course on adjacent Dent Island
- A boat marina and a commercial airport
Hamilton Island is described as a significant employer in the Whitsunday region, sustaining a large on-island community and staff, as well as a wide network of regional partners, vendors, and area businesses.
A Look Back at Ownership
The deceased Robert Oatley, a renowned yachtsman and winemaker, first bought the resort for A$200 million in the year 2003 after spying the island from the deck a yacht during a voyage through the Whitsundays.
Hamilton's major development phase first began in the 1980s. In the decades before that, it was characterized by simple iron huts and more humble quarters that hosted Australian vacationers from inland areas and from the south.
Broader Portfolio and Local Heritage
The acquiring firm also owns hotels and luxury resorts in multiple countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the ancestral territory of the Ngaro people. The name derives from Captain James Cook, who sailed the Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
