🔗 Share this article Hamilton Island, one of the Popular Tropical Getaway on the World Heritage Reef, Reportedly Sold by American Private Equity Firm. An iconic resort island situated on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a US-based investment group in a deal said to be worth A$1.2 billion. “It is an honor to build on the vision and dedication of the Oatley family has built in the center of the World Heritage-listed Great Barrier Reef,” stated a senior representative. The Reported Sale Headquartered in New York, 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 standard regulatory approvals. The family issued a comment noting they welcomed the new owners of an island that holds a “unique position in the hearts of many Australians” and is referred to as “Australia’s Tropical Island”. Hamilton Island's Scale and Features Located almost 900km 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 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 boat marina and a commercial airport The resort is described as a major job provider in the Whitsundays, supporting a sizable resident community and staff, as well as a broad network of local partners, vendors, and local businesses. Historical Context at The Island's History The late billionaire Robert Oatley, a well-known sailor and winemaker, first bought the resort for A$200 million in the year 2003 after spying the island from the deck a yacht while sailing through the Whitsundays. The island's major development phase initially started in the 1980s. For decades prior that, it was home to simple iron huts and modest accommodations that housed Australian vacationers from inland areas and southern states. Broader Portfolio and Regional Background Blackstone also owns hotels and luxury resorts in multiple nations, such as Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro Indigenous people. The name derives from Captain James Cook, who navigated the Endeavour through the archipelago on June 3, 1770, which was Whit Sunday.