🔗 Share this article The Hamilton Island Resort, a Popular Queensland Getaway on the Great Barrier Reef, Reportedly Set to be Sold by US Investment Giant. An iconic resort island located within the Great Barrier Reef has reportedly been sold to a American private equity firm for a sum reportedly valued at 1.2 billion Australian dollars. “We are honored to build on the vision and dedication that the Oatley family has built in the heart of the iconic Great Barrier Reef,” said a senior representative. The Reported Sale The New York-headquartered, Blackstone – which also owns the hospitality group Crown Resorts – confirmed it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, pending customary approvals from regulators. The family issued a comment saying they welcomed the new owners 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 almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans more than 1,130 hectares spanning two separate islands. Approximately thirty percent of the land is built upon, including a significant array of facilities: Five hotels Over twenty restaurants and bars Twenty shops and retail spaces An championship 18-hole golf course on adjacent Dent Island A boat marina and a functioning airport The resort is described as a major job provider in the Whitsundays, supporting a large on-island 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 well-known sailor and winemaker, first bought the resort for A$200 million in the year 2003 after spying the island from aboard a yacht while sailing through the Whitsundays. The island's major development phase first began in the 1980s. In the decades before that, it was home to simple iron huts and more humble quarters that housed Australian vacationers from inland areas and southern states. The Buyer's Other Holdings and Regional Background The acquiring firm has ownership of 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. The name derives from Captain James Cook, who navigated the Endeavour through the island group on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.