🔗 Share this article The Hamilton Island Resort, a Iconic Queensland Getaway on the World Heritage Reef, Reportedly Sold by American Private Equity Firm. An iconic tropical holiday destination situated within the Great Barrier Reef has reportedly been sold to a American investment group in a deal said to be worth 1.2 billion Australian dollars. “We are honored to continue the vision and dedication of the family owners has established in the center of the World Heritage-listed Great Barrier Reef,” said a company executive. The Reported Sale Headquartered in New York, the investment firm Blackstone – the owner of the hospitality group Crown Resorts – confirmed it had signed an agreement to acquire the Hamilton Island resort from the Oatley family owners, subject to standard regulatory approvals. The sellers released a statement noting they were pleased with the change in ownership of an island that holds a “unique position in the hearts of countless Australians” and is referred to as “Australia’s Tropical Island”. The Island's Size and Amenities Positioned roughly 900 kilometers north of Brisbane and about 500km south of Cairns, the island covers over 1,130 hectares spanning two separate islands. Roughly thirty percent of the land is built upon, including a significant array of amenities: Five separate hotels More than 20 restaurants and bars 20 retail outlets An 18-hole championship golf course on adjacent Dent Island A marina and a commercial airport Hamilton Island is noted as a major job provider in the Whitsundays, sustaining a large on-island community and workforce, as well as a wide network of local partners, suppliers, and local businesses. A Look Back at Ownership The late billionaire Robert Oatley, a well-known yachtsman and winemaker, originally purchased the resort for A$200 million in the year 2003 after spotting the island from the deck a yacht during a voyage through the Whitsunday passage. Hamilton's major development phase first began in the 1980s. For decades prior that, it was home to galvanised iron huts and more humble quarters that housed Australian vacationers from inland areas and from the south. The Buyer's Other Holdings and Regional Background The acquiring firm also owns 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 Indigenous people. The name comes from Captain James Cook, who navigated the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was Whit Sunday.