🔗 Share this article The Hamilton Island Resort, one of the Popular Queensland Getaway on the Great Barrier Reef, Reportedly Acquired by US Investment Giant. A major resort island located within the Great Barrier Reef has entered into an agreement for sale to a American private equity firm in a deal reportedly valued at 1.2 billion Australian dollars. “It is an honor to continue the legacy and commitment of the Oatley family has built in the center of the World Heritage-listed Great Barrier Reef,” stated a senior representative. Details of the Sale The New York-headquartered, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – confirmed it had entered into an agreement to acquire the island resort from the Oatley family owners, pending customary approvals from regulators. The family issued a comment saying they welcomed the new owners of an island that holds a “unique position in the affections of countless Australians” and is referred to as “Australia’s Tropical Island”. Hamilton Island's Size and Amenities Located almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, the island spans over 1,130 hectares across two islands. Roughly thirty percent of the land is built upon, including a significant array of facilities: Five separate hotels Over twenty dining and drinking venues 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 described as a major job provider in the Whitsunday region, supporting a sizable resident community and workforce, as well as a wide network of local partners, suppliers, and local businesses. Historical Context at Ownership The late billionaire Robert Oatley, a renowned sailor and winemaker, first bought 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 first began in the 1980s. For decades prior that, it was home to simple iron huts and more humble quarters that hosted domestic holidaymakers from inland areas and southern states. Broader Portfolio and Regional Background Blackstone has ownership of hotels and luxury resorts in multiple nations, 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 archipelago on June 3, 1770, which was Whit Sunday.