Hamilton Island, a Popular Queensland Getaway on the World Heritage Reef, Reportedly Set to be Sold by US Investment Giant.
A major resort island situated on the World Heritage-listed Great Barrier Reef has reportedly been sold to a American investment group for a sum said to be worth 1.2 billion Australian dollars.
“We are honored to continue the vision and dedication that the family owners has built in the heart of the iconic Great Barrier Reef,” stated a company executive.
Details of the Sale
Headquartered in New York, the investment firm Blackstone – which also owns the hospitality group Crown Resorts – confirmed it had entered into an deal to purchase the island resort from the Oatley family, subject to customary approvals from regulators.
The family released a statement saying they were pleased with the new owners of an island that holds a “unique position in the affections of many Australians” and is known as “Australia’s Tropical Island”.
The Island's Scale and Features
Located almost 900km north of Brisbane and about 500km south of Cairns, the island spans more than 1,130 hectares spanning two separate islands.
Roughly 30% of the area is developed, featuring a substantial array of amenities:
- 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 functioning airport
The resort is described as a significant employer in the Whitsunday region, supporting a large on-island community and workforce, as well as a broad network of local partners, suppliers, and local businesses.
A Look Back at Ownership
The deceased billionaire Robert Oatley, a well-known sailor and vintner, originally purchased the resort for A$200 million in 2003 after spotting the island from the deck a yacht during a voyage through the Whitsundays.
The island's major development phase first began in the 1980s. In the decades before that, it was home to simple iron huts and more humble quarters that hosted Australian vacationers from the outback and southern states.
The Buyer's Other Holdings and Local Heritage
The acquiring firm also owns luxury hotels and resorts in multiple countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the ancestral territory of the Ngaro Indigenous people. Its name derives from Captain James Cook, who sailed the Endeavour through the island group on June 3, 1770, which was the Christian holiday of Whit Sunday.
