🔗 Share this article The Hamilton Island Resort, one of the Iconic Queensland Holiday Destination on the Great Barrier Reef, Reportedly Acquired by US Investment Giant. An iconic tropical holiday destination located within the World Heritage-listed Great Barrier Reef has reportedly been sold to a American investment group for a sum reportedly valued at 1.2 billion Australian dollars. “We are honored to continue the vision and dedication of the Oatley family has built in the heart of the World Heritage-listed Great Barrier Reef,” stated a senior representative. The Reported Sale The New York-headquartered, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, subject to standard regulatory approvals. The family released a statement noting they welcomed the new owners of an island that holds a “special place in the affections of many Australians” and is referred to as “Australia’s Tropical Island”. The Island's Scale and Features Positioned roughly 900 kilometers north of Brisbane and about 500km south of Cairns, Hamilton spans over 1,130 hectares across two islands. Approximately thirty percent of the land is developed, featuring a significant range of facilities: Five hotels More than 20 restaurants and bars 20 retail outlets An 18-hole championship golf course on adjacent Dent Island A marina and a functioning airport Hamilton Island is noted as a major job provider in the Whitsunday region, sustaining a sizable resident community and workforce, as well as a wide network of regional partners, suppliers, and area businesses. A Look Back at Ownership The deceased Robert Oatley, a renowned yachtsman and vintner, originally purchased the resort for A$200 million in the year 2003 after spotting the island from the deck a yacht while sailing through the Whitsundays. The island's development boom first began in the 1980s. For decades prior that, it was home to galvanised iron huts and modest accommodations that hosted Australian vacationers from the outback and southern states. The Buyer's Other Holdings and Regional Background Blackstone has ownership of hotels and luxury resorts in several countries, such as Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro people. Its name derives from Captain James Cook, who navigated the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was Whit Sunday.