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The Hamilton Island Resort, one of the Iconic Queensland Holiday Destination on the World Heritage Reef, Reportedly Acquired by American Investment Giant.
A major resort island located on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a US-based investment group in a deal said to be worth A$1.2 billion.
“It is an honor to build on the vision and dedication of the family owners has built 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 casino-hotel chain Crown Resorts – confirmed it had entered into an agreement to acquire the island resort from the Oatley family, subject to standard approvals from regulators.
The sellers issued a comment saying they were pleased with the change in ownership of an island that holds a “unique position in the affections of many 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 over 1,130 hectares across two islands.
Approximately 30% of the area is built upon, including a significant array of facilities:
- Five 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
Hamilton Island is noted as a major job provider in the Whitsunday region, supporting a large on-island community and workforce, as well as a broad network of local partners, suppliers, and local businesses.
Historical Context at Ownership
The late billionaire Robert Oatley, a well-known yachtsman and winemaker, first bought the resort for $200 million in the year 2003 after spotting the island from the deck a yacht during a voyage through the Whitsunday passage.
The island's development boom first began in the 1980s. For decades prior that, it was characterized by simple iron huts and more humble quarters that housed Australian vacationers from the outback and southern states.
The Buyer's Other Holdings and Regional Background
Blackstone has ownership of 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 comes from Captain James Cook, who navigated the HMS Endeavour through the island group on Sunday 3 June 1770, which was Whit Sunday.
Samuel Berry
A seasoned gaming journalist with over a decade of experience covering esports and indie game developments.
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