🔗 Share this article The Hamilton Island Resort, a Popular Queensland Getaway on the World Heritage Reef, Reportedly Set to be Acquired by US Investment Giant. A major resort island situated within the 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. “We are honored to build on the legacy and commitment that the family owners has built in the heart of the iconic Great Barrier Reef,” said a senior representative. Details of the Sale The New York-headquartered, the investment firm Blackstone – which also owns the hospitality group Crown Resorts – announced it had signed an deal to purchase the island resort from the Oatley family, pending standard approvals from regulators. The sellers issued a comment noting they were pleased with the new owners 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 roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton covers more than 1,130 hectares spanning two separate islands. Roughly thirty percent of the area is built upon, including a significant array of facilities: Five hotels Over twenty restaurants and bars 20 retail outlets An championship 18-hole golf course on adjacent Dent Island A boat marina and a functioning airport Hamilton Island is noted as a major job provider in the Whitsundays, supporting a large on-island community and workforce, as well as a broad network of regional partners, suppliers, and area businesses. A Look Back at Ownership The late Robert Oatley, a renowned sailor and vintner, originally purchased the resort for $200 million in the year 2003 after spotting the island from aboard a yacht during a voyage through the Whitsunday passage. Hamilton's major development phase first began in the 1980s. In the decades before that, it was characterized by simple iron huts and more humble quarters that housed Australian vacationers from the outback and from the south. Broader Portfolio and Local Heritage Blackstone has ownership of luxury hotels and resorts in multiple countries, 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 derives from Captain James Cook, who navigated the Endeavour through the island group on Sunday 3 June 1770, which was Whit Sunday.