🔗 Share this article The Hamilton Island Resort, a Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Set to be Acquired by US Investment Giant. An iconic tropical holiday destination situated within the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a American private equity firm in a deal reportedly valued at A$1.2 billion. “It is an honor to continue the vision and dedication of the family owners has established in the center of the World Heritage-listed Great Barrier Reef,” said a senior representative. The Reported Acquisition Agreement Headquartered in New York, the investment firm Blackstone – which also owns the hospitality group Crown Resorts – announced it had entered into an deal to purchase the island resort from the Oatley family, subject to customary regulatory approvals. The family issued a comment saying 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 Size and Amenities Positioned roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton covers more than 1,130 hectares spanning two separate islands. Roughly thirty percent of the land is developed, featuring a significant array of amenities: Five separate hotels Over twenty dining and drinking venues Twenty shops and retail spaces An 18-hole championship golf course on adjacent Dent Island A boat marina and a functioning airport The resort is noted as a major job provider in the Whitsundays, supporting a large on-island community and workforce, as well as a wide network of local partners, vendors, and local businesses. Historical Context at Ownership The deceased billionaire Robert Oatley, a renowned yachtsman and vintner, originally purchased the resort for A$200 million in the year 2003 after spying the island from the deck a yacht while sailing through the Whitsunday passage. The island's development boom initially started in the 1980s. For decades prior that, it was home to galvanised iron huts and modest accommodations that hosted Australian vacationers from the outback and southern states. The Buyer's Other Holdings 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 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 island group on Sunday 3 June 1770, which was Whit Sunday.