The Hamilton Island Resort, one of the Iconic Tropical Holiday Destination on the World Heritage Reef, Reportedly Set to be Sold by US Investment Giant.
A major resort island located 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 build on the legacy and commitment that the Oatley family has established in the heart of the iconic Great Barrier Reef,” stated a company executive.
The Reported Acquisition Agreement
Headquartered in New York, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – confirmed it had entered into an deal to purchase the island resort from the Oatley family, pending customary regulatory approvals.
The sellers issued a comment noting 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 Size and Amenities
Positioned roughly 900 kilometers north of Brisbane and about 500km south of Cairns, the island spans more than 1,130 hectares across two islands.
Roughly thirty percent of the area is built upon, including a significant array of amenities:
- Five separate hotels
- More than 20 restaurants and bars
- Twenty shops and retail spaces
- An 18-hole championship golf course on neighboring Dent Island
- A boat marina and a functioning airport
Hamilton Island is noted as a major job provider in the Whitsundays, supporting a large on-island community and staff, as well as a wide network of local partners, suppliers, and local businesses.
A Look Back at Ownership
The deceased Robert Oatley, a well-known sailor and vintner, originally purchased the resort for $200 million in the year 2003 after spying the island from aboard a yacht while sailing through the Whitsundays.
The island's development boom first began in the 1980s. In the decades before that, it was characterized by simple iron huts and modest accommodations that housed Australian vacationers from the outback and southern states.
The Buyer's Other Holdings and Local Heritage
The acquiring firm 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. The name derives from Captain James Cook, who sailed the HMS Endeavour through the island group on Sunday 3 June 1770, which was Whit Sunday.
