The Hamilton Island Resort, a Popular Queensland Holiday Destination on the World Heritage Reef, Reportedly Set to be Sold by American Investment Giant.
A major resort island situated within the World Heritage-listed Great Barrier Reef has reportedly been sold to a American investment group in a deal reportedly valued at 1.2 billion Australian dollars.
“We are honored to build on the legacy and commitment that the Oatley family has built in the heart of the World Heritage-listed Great Barrier Reef,” stated a senior representative.
Details of the Sale
Headquartered in New York, Blackstone – which also owns the hospitality group Crown Resorts – announced it had signed an agreement to acquire the Hamilton Island resort from the Oatley family owners, pending customary regulatory approvals.
The sellers 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 about 500km south of Cairns, Hamilton covers over 1,130 hectares spanning two separate islands.
Approximately thirty percent of the land is built upon, including a significant range of amenities:
- Five hotels
- More than 20 dining and drinking venues
- 20 retail outlets
- An 18-hole championship golf course on neighboring Dent Island
- A marina and a commercial airport
The resort is noted as a major job provider in the Whitsunday region, sustaining a large on-island community and staff, as well as a wide network of regional partners, suppliers, and area businesses.
A Look Back at The Island's History
The late billionaire Robert Oatley, a well-known yachtsman and vintner, originally purchased the resort for A$200 million in 2003 after spotting the island from the deck a yacht during a voyage through the Whitsunday passage.
Hamilton's development boom first began in the 1980s. In the decades before that, it was home to galvanised iron huts and modest accommodations that housed domestic holidaymakers from the outback and from the south.
The Buyer's Other Holdings and Local Heritage
Blackstone also owns luxury hotels and resorts in multiple countries, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the traditional lands and seas of the Ngaro Indigenous people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on Sunday 3 June 1770, which was Whit Sunday.
