🔗 Share this article Hamilton Island, one of the Popular Tropical Holiday Destination on the Great Barrier Reef, Reportedly Set to be Sold by US Investment Giant. A major resort island situated on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a US-based 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 established in the heart of the World Heritage-listed Great Barrier Reef,” stated a senior representative. Details of the Sale The New York-headquartered, the investment firm Blackstone – which also owns the casino-hotel chain Crown Resorts – confirmed it had signed an deal to purchase the Hamilton Island resort from the Oatley family, subject to customary approvals from regulators. The family released a statement saying they were pleased with the change in ownership of an island that holds a “unique position in the hearts of many Australians” and is referred to as “Australia’s Tropical Island”. The Island's Size and Amenities Located roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans more than 1,130 hectares across two islands. Roughly thirty percent of the land is built upon, featuring a significant array of amenities: Five separate hotels Over twenty restaurants and bars Twenty shops and retail spaces An 18-hole championship golf course on adjacent Dent Island A boat marina and a functioning airport The resort is noted as a significant employer in the Whitsunday region, sustaining a sizable resident community and staff, as well as a wide network of local partners, vendors, and area businesses. A Look Back at The Island's History The late billionaire Robert Oatley, a renowned sailor and vintner, originally purchased the resort for $200 million in the year 2003 after spotting the island from the deck a yacht during a voyage through the Whitsundays. Hamilton's development boom first began in the 1980s. For decades prior that, it was characterized by galvanised iron huts and more humble quarters that hosted domestic holidaymakers from inland areas and from the south. Broader Portfolio and Local Heritage Blackstone also owns hotels and luxury resorts in several countries, 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 comes from Captain James Cook, who navigated the Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.