🔗 Share this article Hamilton Island, a Popular Queensland Getaway on the Great Barrier Reef, Reportedly Set to be Sold by US Private Equity Firm. A major tropical holiday destination located within the Great Barrier Reef has reportedly been sold to a American investment group for a sum said to be worth A$1.2 billion. “We are honored to build on the legacy and commitment that the family owners has built in the heart of the iconic Great Barrier Reef,” stated a senior representative. The Reported Sale Headquartered in New York, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had entered into an agreement to acquire the Hamilton Island resort from the Oatley family owners, pending customary approvals from regulators. The sellers issued a comment noting they were pleased with the change in ownership of an island that holds a “special place in the hearts of countless Australians” and is known as “Australia’s Tropical Island”. The Island's Size and Amenities Positioned roughly 900 kilometers north of Brisbane and about 500km south of Cairns, the island covers over 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 dining and drinking venues Twenty shops and retail spaces An championship 18-hole golf course on neighboring Dent Island A boat marina and a functioning airport The resort is noted as a significant employer in the Whitsundays, sustaining a sizable resident community and staff, as well as a wide network of local partners, vendors, and area businesses. Historical Context at Ownership The deceased Robert Oatley, a renowned yachtsman and vintner, originally purchased the resort for A$200 million in the year 2003 after spotting the island from the deck a yacht during a voyage through the Whitsundays. 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. Broader Portfolio and Local Heritage The acquiring firm also owns hotels and luxury resorts in multiple countries, including Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro people. Its name comes from Captain James Cook, who sailed the Endeavour through the island group on June 3, 1770, which was the Christian holiday of Whit Sunday.