The Hamilton Island Resort, one of the Popular Tropical Holiday Destination on the Great Barrier Reef, Reportedly Set to be Acquired by American Investment Giant.
A major resort island situated on the World Heritage-listed Great Barrier Reef has reportedly been sold to a American private equity firm in a deal said to be worth A$1.2 billion.
“It is an honor to build on the vision and dedication that the family owners has established in the heart of the World Heritage-listed Great Barrier Reef,” stated a senior representative.
The Reported 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 Hamilton Island resort from the Oatley family owners, subject to standard approvals from regulators.
The family released a statement saying they were pleased with the change in ownership of an island that holds a “special place in the affections of countless 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, Hamilton covers over 1,130 hectares across two islands.
Approximately thirty percent of the land is developed, featuring a substantial range of amenities:
- Five hotels
- More than 20 dining and drinking venues
- 20 retail outlets
- An championship 18-hole golf course on neighboring Dent Island
- A boat marina and a functioning airport
The resort is described as a significant employer in the Whitsundays, sustaining a large on-island community and staff, as well as a broad network of regional partners, suppliers, and area businesses.
A Look Back at Ownership
The late billionaire Robert Oatley, a well-known sailor and winemaker, first bought the resort for $200 million in the year 2003 after spotting the island from the deck a yacht while sailing through the Whitsunday passage.
The island's development boom initially started in the 1980s. In the decades before that, it was home to simple iron huts and more humble quarters that housed domestic holidaymakers from the outback and from the south.
The Buyer's Other Holdings and Local Heritage
Blackstone has ownership of luxury hotels and 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 Indigenous people. Its name derives from Captain James Cook, who navigated the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
