A major tropical holiday destination situated on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale 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 that the Oatley family has established in the heart of the World Heritage-listed Great Barrier Reef,” stated a company executive.
The New York-headquartered, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – confirmed it had signed an deal to purchase the Hamilton Island resort from the Oatley family owners, pending standard regulatory approvals.
The sellers released a statement saying they welcomed the new owners of an island that holds a “special place in the affections of many Australians” and is known as “Australia’s Tropical Island”.
Located roughly 900 kilometers north of Brisbane and about 500km south of Cairns, Hamilton covers more than 1,130 hectares across two islands.
Approximately 30% of the land is built upon, featuring a substantial range of amenities:
Hamilton Island is noted as a significant employer in the Whitsunday region, supporting a large on-island community and staff, as well as a wide network of local partners, suppliers, and area businesses.
The deceased billionaire Robert Oatley, a well-known sailor and winemaker, first bought the resort for $200 million in the year 2003 after spying the island from the deck a yacht during a voyage through the Whitsundays.
The island's major development phase initially started in the 1980s. In the decades before that, it was home to simple iron huts and modest accommodations that housed domestic holidaymakers from inland areas and from the south.
The acquiring firm also owns hotels and luxury resorts in several nations, including Japan, India, the Maldives, Sri Lanka, and the United States.
The area is the traditional lands and seas of the Ngaro Indigenous people. Its name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.
Lena Hoffmann is a seasoned journalist with a passion for uncovering stories that matter, specializing in German current affairs and digital media trends.
