🔗 Share this article The Hamilton Island Resort, a Iconic Queensland Holiday Destination on the World Heritage Reef, Reportedly Set to be Acquired by US Private Equity Firm. A major resort island located on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based investment group for a sum reportedly valued at 1.2 billion Australian dollars. “It is an honor to build on the vision and dedication of the Oatley family has built in the center of the iconic Great Barrier Reef,” stated a senior representative. Details of the Sale Headquartered in New York, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, pending 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 many Australians” and is referred to as “Australia’s Tropical Island”. The Island's Scale and Features Positioned almost 900km north of Brisbane and about 500km south of Cairns, the island spans over 1,130 hectares across two islands. Roughly thirty percent of the land is built upon, featuring a substantial array of facilities: Five separate hotels Over twenty dining and drinking venues Twenty shops and retail spaces An 18-hole championship golf course on neighboring Dent Island A marina and a commercial airport Hamilton Island is noted as a major job provider in the Whitsunday region, sustaining a sizable resident community and staff, as well as a broad network of regional partners, suppliers, and area businesses. Historical Context at Ownership The late Robert Oatley, a renowned yachtsman and vintner, first bought the resort for $200 million in 2003 after spotting the island from the deck a yacht during a voyage through the Whitsundays. The island's major development phase first began in the 1980s. For decades prior that, it was characterized by galvanised iron huts and modest accommodations that hosted Australian vacationers from inland areas and from the south. Broader Portfolio and Regional Background The acquiring firm also owns hotels and luxury resorts in several nations, including Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the ancestral territory of the Ngaro people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the archipelago on June 3, 1770, which was the Christian holiday of Whit Sunday.