The Hamilton Island Resort, a Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Set to be Sold by American Investment Giant.
A major tropical holiday destination located on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based private equity firm for a sum said to be worth A$1.2 billion.
“We are honored to build on the vision and dedication of the Oatley family has established in the center of the World Heritage-listed Great Barrier Reef,” said a senior representative.
The Reported Acquisition Agreement
The New York-headquartered, the investment firm 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, subject to standard approvals from regulators.
The family issued a comment saying they were pleased with the change in ownership of an island that holds a “special place in the hearts of many Australians” and is referred to as “Australia’s Tropical Island”.
Hamilton Island's Size and Amenities
Positioned almost 900km north of Brisbane and about 500km south of Cairns, Hamilton spans more than 1,130 hectares spanning two separate islands.
Approximately thirty percent of the area is developed, including a significant array of facilities:
- Five hotels
- More than 20 dining and drinking venues
- 20 retail outlets
- An 18-hole championship golf course on adjacent Dent Island
- A marina and a functioning airport
Hamilton Island is noted as a significant employer in the Whitsundays, supporting a sizable resident community and workforce, as well as a wide network of regional partners, vendors, and area businesses.
A Look Back at The Island's History
The deceased billionaire Robert Oatley, a well-known yachtsman and vintner, originally purchased the resort for $200 million in 2003 after spying the island from aboard a yacht while sailing through the Whitsunday passage.
The island's major development phase first began in the 1980s. For decades prior that, it was home to galvanised iron huts and more humble quarters that housed Australian vacationers from inland areas and from the south.
The Buyer's Other Holdings and Local Heritage
The acquiring firm also owns luxury hotels and resorts in multiple countries, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the ancestral territory of the Ngaro people. The name comes from Captain James Cook, who navigated the Endeavour through the archipelago on June 3, 1770, which was the Christian holiday of Whit Sunday.
