The Hamilton Island Resort, one of the Popular Queensland Getaway on the Great Barrier Reef, Reportedly Set to be Acquired by American Private Equity Firm.
A major resort island situated on the Great Barrier Reef has reportedly been sold to a American private equity firm for a sum said to be worth 1.2 billion Australian dollars.
“We are honored to build on the legacy and commitment that the Oatley family has established in the heart of the World Heritage-listed Great Barrier Reef,” said a senior representative.
Details of the Sale
The New York-headquartered, Blackstone – which also owns the casino-hotel chain Crown Resorts – confirmed it had signed an agreement to acquire the island resort from the Oatley family owners, subject to customary approvals from regulators.
The sellers issued a comment saying they welcomed the new owners of an island that holds a “special place in the affections of countless Australians” and is referred to as “Australia’s Tropical Island”.
Hamilton Island's Size and Amenities
Located roughly 900 kilometers north of Brisbane and about 500km south of Cairns, the island covers more than 1,130 hectares spanning two separate islands.
Roughly 30% of the area is developed, featuring a substantial range of facilities:
- Five separate hotels
- More than 20 restaurants and bars
- Twenty shops and retail spaces
- An championship 18-hole golf course on neighboring Dent Island
- A boat marina and a functioning airport
Hamilton Island is described as a major job provider 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 renowned sailor and vintner, first bought the resort for A$200 million in 2003 after spotting the island from aboard a yacht while sailing through the Whitsunday passage.
Hamilton's major development phase initially started in the 1980s. For decades prior 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 Regional Background
The acquiring firm also owns hotels and luxury resorts in several countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the ancestral territory of the Ngaro Indigenous people. Its name derives from Captain James Cook, who sailed the Endeavour through the island group on Sunday 3 June 1770, which was Whit Sunday.
