Hamilton Island, one of the Popular Tropical Holiday Destination on the World Heritage Reef, Reportedly Set to be Sold by US Investment Giant.
An iconic resort island situated within the World Heritage-listed Great Barrier Reef has reportedly been sold to a American investment group in a deal said to be worth A$1.2 billion.
“We are honored to continue the vision and dedication that the family owners has built in the heart of the iconic Great Barrier Reef,” said a senior representative.
The Reported Sale
Headquartered in New York, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had signed an deal to purchase the island resort from the Oatley family, pending customary approvals from regulators.
The family issued a comment saying they welcomed the change in ownership of an island that holds a “special place in the hearts of countless Australians” and is referred to as “Australia’s Tropical Island”.
The Island's Size and Amenities
Positioned almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, the island covers over 1,130 hectares across two islands.
Approximately 30% of the area is built upon, featuring a substantial array of amenities:
- Five hotels
- Over twenty restaurants and bars
- 20 retail outlets
- An championship 18-hole golf course on adjacent Dent Island
- A marina and a functioning airport
Hamilton Island is noted as a significant employer in the Whitsunday region, 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 late Robert Oatley, a renowned yachtsman and vintner, originally purchased the resort for $200 million in the year 2003 after spotting the island from aboard a yacht while sailing through the Whitsunday passage.
The island's development boom initially started in the 1980s. For decades prior that, it was characterized by simple iron huts and modest accommodations that housed domestic holidaymakers from the outback and southern states.
The Buyer's Other Holdings and Local Heritage
Blackstone has ownership of luxury hotels and resorts in several countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the traditional lands and seas of the Ngaro people. Its name derives from Captain James Cook, who sailed the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
