🔗 Share this article The Hamilton Island Resort, one of the Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Set to be Acquired by US Investment Giant. A major resort island located on the Great Barrier Reef has reportedly been sold to a American private equity firm for a sum said to be worth 1.2 billion Australian dollars. “We are honored to continue the legacy and commitment of the family owners has established in the heart of the iconic Great Barrier Reef,” stated a company executive. The Reported Sale The New York-headquartered, Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had signed an deal to purchase the island resort from the Oatley family, pending customary regulatory approvals. The family released a statement noting they welcomed the change in ownership of an island that holds a “unique position in the hearts of countless Australians” and is referred to as “Australia’s Tropical Island”. Hamilton Island's Size and Amenities Located roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans over 1,130 hectares across two islands. Roughly thirty percent of the land is built upon, featuring a significant array of facilities: Five hotels Over twenty dining and drinking venues 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 Whitsunday region, supporting a sizable resident community and workforce, as well as a broad network of regional partners, vendors, and local businesses. A Look Back at The Island's History 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 while sailing through the Whitsunday passage. The island's major development phase first began in the 1980s. In the decades before that, it was characterized by galvanised iron huts and more humble quarters that housed domestic holidaymakers from the outback and from the south. The Buyer's Other Holdings and Regional Background The acquiring firm also owns luxury hotels and 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 derives from Captain James Cook, who navigated the Endeavour through the archipelago on June 3, 1770, which was the Christian holiday of Whit Sunday.