🔗 Share this article Hamilton Island, a Iconic Queensland Getaway on the World Heritage Reef, Reportedly Set to be Sold by American Investment Giant. An iconic tropical holiday destination situated on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based private equity firm for a sum reportedly valued at 1.2 billion Australian dollars. “It is an honor to build on the legacy and commitment of the family owners has built in the heart of the iconic Great Barrier Reef,” stated a senior representative. Details of the Sale 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 owners, pending standard approvals from regulators. The sellers issued a comment saying they welcomed the new owners of an island that holds a “unique position in the affections of many Australians” and is known as “Australia’s Tropical Island”. The Island's Size and Amenities Located almost 900km north of Brisbane and about 500km south of Cairns, Hamilton covers more than 1,130 hectares spanning two separate islands. Roughly 30% of the land is developed, featuring a substantial range of amenities: Five separate hotels Over twenty restaurants and bars 20 retail outlets An 18-hole championship golf course on adjacent Dent Island A marina and a commercial airport The resort is described as a significant employer in the Whitsunday region, supporting a sizable resident community and workforce, as well as a broad network of regional partners, suppliers, and area businesses. Historical Context at The Island's History The late Robert Oatley, a renowned yachtsman and winemaker, originally purchased the resort for A$200 million in the year 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 characterized by simple iron huts and modest accommodations that housed Australian vacationers from inland areas and from the south. The Buyer's Other Holdings and Local Heritage Blackstone also owns luxury hotels and resorts in multiple nations, including Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the traditional lands and seas of the Ngaro people. Its name derives from Captain James Cook, who sailed the Endeavour through the archipelago on June 3, 1770, which was the Christian holiday of Whit Sunday.