🔗 Share this article The Hamilton Island Resort, one of the Iconic Queensland Getaway on the World Heritage Reef, Reportedly Set to be Acquired by US Investment Giant. An iconic tropical holiday destination located within the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based private equity firm for a sum said to be worth A$1.2 billion. “We are honored to build on the legacy and commitment of the Oatley family has established in the heart of the World Heritage-listed Great Barrier Reef,” said a senior representative. The Reported Acquisition Agreement Headquartered in New York, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had signed an agreement to acquire the island resort from the Oatley family owners, subject to standard approvals from regulators. The sellers released a statement saying they were pleased with the change in ownership of an island that holds a “special place in the affections of countless Australians” and is referred to as “Australia’s Tropical Island”. Hamilton Island's Scale and Features Located roughly 900 kilometers north of Brisbane and about 500km south of Cairns, Hamilton spans over 1,130 hectares spanning two separate islands. Roughly thirty percent of the land is built upon, including a substantial range of amenities: Five hotels More than 20 dining and drinking venues 20 retail outlets An 18-hole championship golf course on adjacent Dent Island A boat marina and a commercial airport Hamilton Island is described as a significant employer in the Whitsunday region, supporting a sizable resident community and workforce, as well as a broad network of regional partners, vendors, and area businesses. Historical Context at The Island's History The late Robert Oatley, a well-known yachtsman and winemaker, first bought the resort for $200 million in the year 2003 after spying the island from the deck a yacht during a voyage through the Whitsundays. The island's development boom first began in the 1980s. For decades prior that, it was home to galvanised iron huts and more humble quarters that hosted Australian vacationers from inland areas and southern states. Broader Portfolio and Regional Background The acquiring firm also owns hotels and luxury resorts in several nations, such as Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the ancestral territory of the Ngaro people. Its name derives from Captain James Cook, who sailed the Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.