The Hamilton Island Resort, a Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Acquired by US Investment Giant.
An iconic resort island located within the Great Barrier Reef has reportedly been sold to a US-based private equity firm in a deal reportedly valued at A$1.2 billion.
“It is an honor to build on the vision and dedication that the family owners has built in the heart of the World Heritage-listed Great Barrier Reef,” said a senior representative.
Details of the Sale
The New York-headquartered, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had entered into an deal to purchase the island resort from the Oatley family owners, pending customary approvals from regulators.
The family released a statement saying they were pleased with the new owners of an island that holds a “special place in the affections of many Australians” and is referred to 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, the island spans over 1,130 hectares across two islands.
Approximately 30% of the land is developed, including a substantial array of facilities:
- Five separate hotels
- More than 20 restaurants and bars
- Twenty shops and retail spaces
- An 18-hole championship golf course on adjacent Dent Island
- A boat marina and a commercial airport
Hamilton Island is noted as a significant employer in the Whitsundays, supporting a large on-island community and workforce, as well as a wide network of regional partners, suppliers, and local businesses.
A Look Back at Ownership
The late Robert Oatley, a well-known sailor and vintner, first bought the resort for A$200 million in the year 2003 after spotting the island from aboard a yacht during a voyage through the Whitsunday passage.
The island's major development phase initially started in the 1980s. For decades prior that, it was characterized by simple iron huts and more humble quarters that housed Australian vacationers from the outback and southern states.
Broader Portfolio and Local Heritage
Blackstone has ownership of hotels and luxury resorts in multiple nations, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the traditional lands and seas of the Ngaro people. Its name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on June 3, 1770, which was the Christian holiday of Whit Sunday.
