The Hamilton Island Resort, one of the Popular Queensland Getaway on the World Heritage Reef, Reportedly Sold by American Investment Giant.
A major tropical holiday destination located on the Great Barrier Reef has entered into an agreement for sale to a US-based investment group for a sum said to be worth A$1.2 billion.
“It is an honor to continue the legacy and commitment that the family owners has established in the center of the World Heritage-listed Great Barrier Reef,” said a company executive.
The Reported Sale
Headquartered in New York, the investment firm Blackstone – the owner of the hospitality group Crown Resorts – announced it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, pending standard approvals from regulators.
The sellers released a statement noting they were pleased with the new owners of an island that holds a “special place in the hearts of many Australians” and is referred to as “Australia’s Tropical Island”.
The Island's Size and Amenities
Located almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, the island spans more than 1,130 hectares across two islands.
Approximately thirty percent of the land is developed, featuring a substantial range of facilities:
- Five separate hotels
- More than 20 restaurants and bars
- 20 retail outlets
- An championship 18-hole golf course on adjacent Dent Island
- A marina and a commercial airport
Hamilton Island is noted as a major job provider in the Whitsundays, sustaining a large on-island community and workforce, as well as a broad network of local partners, suppliers, and local businesses.
A Look Back at The Island's History
The late Robert Oatley, a renowned sailor and vintner, originally purchased the resort for A$200 million in the year 2003 after spotting the island from the deck a yacht while sailing through the Whitsunday passage.
Hamilton's development boom first began in the 1980s. In the decades before that, it was home to galvanised iron huts and more humble quarters that hosted domestic holidaymakers from the outback and southern states.
Broader Portfolio and Local Heritage
The acquiring firm also owns hotels and luxury 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. Its name derives 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.
