The Hamilton Island Resort, one of the Popular Queensland Getaway on the Great Barrier Reef, Reportedly Set to be Acquired by US Private Equity Firm.
A major resort island located on the Great Barrier Reef has reportedly been sold to a American investment group in a deal said to be worth 1.2 billion Australian dollars.
“We are honored to build on the vision and dedication that the Oatley family has established in the heart of the iconic Great Barrier Reef,” stated a company executive.
Details of the Sale
The New York-headquartered, the investment firm 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 owners, pending standard approvals from regulators.
The sellers issued a comment saying they were pleased with the change in ownership of an island that holds a “unique position in the hearts of many Australians” and is known as “Australia’s Tropical Island”.
The Island's Size and Amenities
Located almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans over 1,130 hectares spanning two separate islands.
Approximately 30% of the land is built upon, including a significant array of facilities:
- Five hotels
- More than 20 restaurants and bars
- 20 retail outlets
- 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, sustaining a large on-island community and staff, as well as a broad network of regional partners, suppliers, and local businesses.
A Look Back at The Island's History
The late Robert Oatley, a renowned yachtsman and vintner, first bought the resort for $200 million in the year 2003 after spotting the island from the deck a yacht during a voyage through the Whitsunday passage.
Hamilton's major development phase initially started 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 from the south.
The Buyer's Other Holdings and Local Heritage
The acquiring firm has ownership of hotels and luxury resorts in several countries, including Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the traditional lands and seas of the Ngaro people. The name comes from Captain James Cook, who sailed the Endeavour through the island group on June 3, 1770, which was Whit Sunday.
