Hamilton Island, a Popular Tropical Holiday Destination on the Great Barrier Reef, Reportedly Set to be Sold by US Investment Giant.
A major resort island situated on the Great Barrier Reef has reportedly been sold to a American investment group in a deal reportedly valued at 1.2 billion Australian dollars.
“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,” stated a company executive.
Details of the Sale
The New York-headquartered, Blackstone – which also owns the casino-hotel chain Crown Resorts – announced it had entered into an deal to purchase the island resort from the Oatley family owners, 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 hearts of many Australians” and is known 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, Hamilton covers more than 1,130 hectares spanning two separate islands.
Approximately thirty percent of the area is developed, including a substantial range of amenities:
- Five hotels
- Over twenty restaurants and bars
- Twenty shops and retail spaces
- An championship 18-hole golf course on adjacent Dent Island
- A boat marina and a functioning airport
The resort is described as a major job provider in the Whitsunday region, supporting a large on-island community and staff, as well as a wide network of local partners, suppliers, and area businesses.
Historical Context at The Island's History
The deceased billionaire Robert Oatley, a renowned yachtsman and vintner, first bought the resort for A$200 million in the year 2003 after spotting the island from aboard a yacht while sailing through the Whitsundays.
Hamilton's major development phase first began in the 1980s. In the decades before that, it was characterized by galvanised iron huts and modest accommodations that hosted domestic holidaymakers from inland areas and southern states.
Broader Portfolio and Local Heritage
The acquiring firm has ownership of luxury hotels and resorts in several countries, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the ancestral territory of the Ngaro Indigenous people. The name derives from Captain James Cook, who sailed the HMS Endeavour through the island group on June 3, 1770, which was Whit Sunday.
