🔗 Share this article Hamilton Island, a Popular Queensland Holiday Destination on the Great Barrier Reef, Reportedly Sold by American Private Equity Firm. A major resort island located on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a US-based investment group in a deal reportedly valued at 1.2 billion Australian dollars. “We are honored to build on the vision and dedication of the Oatley family has established in the center of the iconic Great Barrier Reef,” stated a senior representative. The Reported Acquisition Agreement Headquartered in New York, Blackstone – the owner of the hospitality group Crown Resorts – announced it had entered into an agreement to acquire the Hamilton Island resort from the Oatley family, pending standard approvals from regulators. The sellers issued a comment noting they welcomed the change in ownership of an island that holds a “special place in the hearts of many Australians” and is known as “Australia’s Tropical Island”. Hamilton Island's Size and Amenities Positioned roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, the island spans over 1,130 hectares spanning two separate islands. Approximately thirty percent of the land is built upon, featuring a substantial range of facilities: Five hotels More than 20 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 described as a significant employer in the Whitsunday region, supporting a large on-island community and staff, as well as a broad network of regional partners, vendors, and area businesses. A Look Back at Ownership The late billionaire 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 Whitsunday passage. Hamilton's development boom first began in the 1980s. For decades prior that, it was home to galvanised iron huts and more humble quarters that hosted Australian vacationers from the outback and southern states. Broader Portfolio and Regional Background Blackstone has ownership of hotels and luxury resorts in several nations, including Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro people. The name comes from Captain James Cook, who navigated the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.