🔗 Share this article Hamilton Island, one of the Popular Tropical Getaway on the World Heritage Reef, Reportedly Set to be Sold by American Private Equity Firm. A major resort island located within the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a American investment group for a sum said to be worth 1.2 billion Australian dollars. “It is an honor to continue the vision and dedication that the Oatley family has built in the center 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 deal to purchase the island resort from the Oatley family, subject to standard regulatory approvals. The family issued a comment saying they were pleased with the new owners of an island that holds a “unique position in the affections of countless Australians” and is known as “Australia’s Tropical Island”. The Island's Size and Amenities Positioned almost 900km north of Brisbane and about 500km south of Cairns, the island spans over 1,130 hectares across two islands. Roughly thirty percent of the land is developed, featuring a substantial range of facilities: Five separate hotels Over twenty restaurants and bars Twenty shops and retail spaces An 18-hole championship golf course on neighboring Dent Island A marina and a functioning airport The resort is noted as a major job provider in the Whitsunday region, sustaining a sizable resident community and staff, as well as a broad network of local partners, vendors, and local businesses. A Look Back at The Island's History The deceased Robert Oatley, a well-known sailor and vintner, originally purchased the resort for A$200 million in 2003 after spotting the island from aboard a yacht while sailing through the Whitsundays. Hamilton's major development phase first began in the 1980s. In the decades before that, it was characterized by simple iron huts and modest accommodations that hosted domestic holidaymakers from inland areas and from the south. The Buyer's Other Holdings and Local Heritage The acquiring firm has ownership of luxury hotels and resorts in multiple nations, such as Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the ancestral territory of the Ngaro Indigenous people. Its name derives from Captain James Cook, who sailed the HMS Endeavour through the island group on June 3, 1770, which was Whit Sunday.