🔗 Share this article The Hamilton Island Resort, one of the Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Acquired by US Private Equity Firm. A major resort island situated within the World Heritage-listed Great Barrier Reef has reportedly been sold to a American investment group for a sum reportedly valued at A$1.2 billion. “It is an honor to build on the legacy and commitment of the Oatley family has built in the heart of the World Heritage-listed Great Barrier Reef,” stated a senior representative. The Reported Acquisition Agreement Headquartered in New York, the investment firm Blackstone – the owner of the hospitality group Crown Resorts – announced it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, pending standard regulatory approvals. The sellers issued a comment saying they were pleased with the new owners of an island that holds a “special place in the affections 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, Hamilton spans over 1,130 hectares spanning two separate islands. Roughly thirty percent of the area is developed, featuring a substantial array of amenities: 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 commercial airport The resort is noted as a major job provider in the Whitsundays, supporting a large on-island community and staff, as well as a broad network of local partners, vendors, and area businesses. A Look Back at The Island's History The deceased Robert Oatley, a renowned yachtsman and vintner, first bought the resort for A$200 million in 2003 after spying the island from aboard a yacht during a voyage through the Whitsundays. The island's development boom initially started in the 1980s. In the decades before that, it was home to simple iron huts and more humble quarters that hosted domestic holidaymakers from inland areas and from the south. Broader Portfolio and Regional Background Blackstone has ownership of luxury hotels and resorts in several countries, such as Japan, India, the Maldives, Sri Lanka, and the United States. The area is the traditional lands and seas of the Ngaro Indigenous people. Its name comes from Captain James Cook, who sailed the HMS Endeavour through the island group on June 3, 1770, which was Whit Sunday.