The Hamilton Island Resort, one of the Popular Tropical Getaway on the Great Barrier Reef, Reportedly Sold by American Private Equity Firm.
A major tropical holiday destination located on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based investment group for a sum said to be worth A$1.2 billion.
“We are honored to continue the vision and dedication of the Oatley family has built in the center of the World Heritage-listed Great Barrier Reef,” stated a senior representative.
Details of the Sale
Headquartered in New York, Blackstone – which also owns the casino-hotel chain Crown Resorts – confirmed it had entered into an agreement to acquire the island resort from the Oatley family owners, subject to standard approvals from regulators.
The sellers issued a comment saying they were pleased with the new owners of an island that holds a “unique position in the hearts of countless Australians” and is known as “Australia’s Tropical Island”.
The 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 spanning two separate islands.
Roughly thirty percent of the land is built upon, including a significant range of amenities:
- Five separate hotels
- Over twenty dining and drinking venues
- 20 retail outlets
- 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 Whitsunday region, supporting a sizable resident community and staff, as well as a broad network of local partners, suppliers, and local businesses.
A Look Back at Ownership
The deceased Robert Oatley, a renowned yachtsman and winemaker, first bought the resort for $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 home to simple iron huts and more humble quarters that housed Australian vacationers from the outback and southern states.
Broader Portfolio and Local Heritage
Blackstone also owns luxury hotels and resorts in multiple countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the traditional lands and seas of the Ngaro people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on June 3, 1770, which was Whit Sunday.
