Hamilton Island, one of the Popular Queensland Holiday Destination on the World Heritage Reef, Reportedly Set to be Acquired by American Investment Giant.
An iconic resort island situated within 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 build on the legacy and commitment of the family owners has established in the center of the iconic Great Barrier Reef,” stated a company executive.
The Reported Acquisition Agreement
Headquartered in New York, Blackstone – the owner of the hospitality group Crown Resorts – confirmed it had entered into an deal to purchase the island resort from the Oatley family owners, subject to standard approvals from regulators.
The sellers issued a comment noting they were pleased with the change in ownership of an island that holds a “unique position in the affections of many Australians” and is known as “Australia’s Tropical Island”.
The Island's Scale and Features
Positioned roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans more than 1,130 hectares spanning two separate islands.
Approximately 30% of the area is developed, including a substantial array of amenities:
- Five separate hotels
- Over twenty dining and drinking venues
- 20 retail outlets
- An championship 18-hole golf course on adjacent Dent Island
- A marina and a commercial airport
The resort is described as a major job provider in the Whitsunday region, sustaining a sizable resident community and staff, as well as a wide network of regional partners, suppliers, and local businesses.
A Look Back at The Island's History
The deceased Robert Oatley, a well-known sailor and winemaker, originally purchased the resort for A$200 million in the year 2003 after spying the island from aboard a yacht during a voyage through the Whitsundays.
Hamilton's major development phase initially started in the 1980s. For decades prior that, it was home to galvanised iron huts and modest accommodations that hosted domestic holidaymakers from inland areas and from the south.
The Buyer's Other Holdings and Local Heritage
Blackstone has ownership of hotels and luxury resorts in multiple countries, including 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 Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
