🔗 Share this article Hamilton Island, one of the Popular Queensland Getaway on the World Heritage Reef, Reportedly Sold by American Investment Giant. A major resort island located within the Great Barrier Reef has reportedly been sold to a American investment group in a deal said to be worth A$1.2 billion. “It is an honor to continue the legacy and commitment of the family owners has established in the heart of the iconic Great Barrier Reef,” stated a senior representative. The Reported Acquisition Agreement Headquartered in New York, the investment firm Blackstone – which also owns the casino-hotel chain Crown Resorts – announced it had entered into an agreement to acquire the island resort from the Oatley family owners, pending standard regulatory approvals. The family released a statement saying they were pleased with the new owners of an island that holds a “special place in the affections 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, Hamilton covers more than 1,130 hectares spanning two separate islands. Roughly thirty percent of the area is built upon, featuring a substantial array of amenities: Five hotels More than 20 restaurants and bars Twenty shops and retail spaces An 18-hole championship golf course on neighboring Dent Island A marina and a commercial airport Hamilton Island is described as a significant employer in the Whitsunday region, sustaining a large on-island community and staff, as well as a broad network of local partners, vendors, and area businesses. Historical Context at Ownership The late billionaire Robert Oatley, a well-known sailor and vintner, first bought the resort for $200 million in 2003 after spotting the island from the deck a yacht during a voyage through the Whitsundays. Hamilton's development boom initially started in the 1980s. In the decades before that, it was characterized by galvanised iron huts and modest accommodations that housed Australian vacationers from the outback and southern states. Broader Portfolio and Regional Background Blackstone has ownership of luxury hotels and resorts in several nations, including 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 navigated the HMS Endeavour through the archipelago on June 3, 1770, which was the Christian holiday of Whit Sunday.