🔗 Share this article The Hamilton Island Resort, a Popular Queensland Holiday Destination on the Great Barrier Reef, Reportedly Sold by American Investment Giant. An iconic resort island located on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a American private equity firm in a deal reportedly valued at 1.2 billion Australian dollars. “We are honored to continue the vision and dedication that the family owners has built in the center of the World Heritage-listed Great Barrier Reef,” stated a senior representative. The Reported Acquisition Agreement Headquartered in New York, the investment firm Blackstone – which also owns the hospitality group Crown Resorts – confirmed it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, subject to customary regulatory approvals. The sellers issued a comment saying they welcomed the change in ownership of an island that holds a “special place in the affections of countless Australians” and is known as “Australia’s Tropical Island”. Hamilton Island's Scale and Features Located almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton covers over 1,130 hectares spanning two separate islands. Approximately thirty percent of the land is developed, including a significant range of amenities: Five hotels Over twenty dining and drinking venues 20 retail outlets An 18-hole championship golf course on adjacent Dent Island A marina and a commercial airport Hamilton Island is noted as a significant employer in the Whitsundays, supporting a large on-island community and staff, as well as a broad network of regional partners, suppliers, and local businesses. Historical Context at The Island's History The deceased billionaire Robert Oatley, a well-known sailor and winemaker, first bought the resort for A$200 million in the year 2003 after spotting the island from aboard a yacht while sailing through the Whitsunday passage. The island's major development phase first began in the 1980s. In the decades before that, it was home to galvanised iron huts and more humble quarters that housed Australian vacationers from the outback and from the south. Broader Portfolio and Regional Background Blackstone has ownership of hotels and luxury resorts in multiple countries, including Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the traditional lands and seas of the Ngaro people. The name comes from Captain James Cook, who navigated the Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.