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Hamilton Island, a Popular Queensland Getaway on the Great Barrier Reef, Reportedly Set to be Sold by American Private Equity Firm.
A major resort island situated on the Great Barrier Reef has reportedly been sold to a US-based investment group in a deal reportedly valued at 1.2 billion Australian dollars.
“It is an honor to build on the vision and dedication of the family owners has established in the heart of the iconic Great Barrier Reef,” stated a senior representative.
The Reported Acquisition Agreement
The New York-headquartered, the investment firm Blackstone – which also owns the hospitality group Crown Resorts – announced it had signed an agreement to acquire the island resort from the Oatley family, pending customary regulatory approvals.
The family 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”.
The Island's Size and Amenities
Positioned roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, the island covers over 1,130 hectares across two islands.
Roughly 30% of the area is built upon, including a substantial array of amenities:
- Five hotels
- Over twenty restaurants and bars
- 20 retail outlets
- An 18-hole championship golf course on adjacent Dent Island
- A boat marina and a functioning airport
Hamilton Island is described as a significant employer in the Whitsundays, sustaining a large on-island community and staff, as well as a wide network of regional partners, suppliers, and area businesses.
A Look Back at Ownership
The late billionaire Robert Oatley, a renowned sailor and vintner, originally purchased the resort for A$200 million in 2003 after spying the island from the deck a yacht during a voyage through the Whitsunday passage.
The island's major development phase initially started in the 1980s. For decades prior that, it was home to galvanised iron huts and modest accommodations that hosted domestic holidaymakers from inland areas and southern states.
The Buyer's Other Holdings and Regional Background
The acquiring firm also owns luxury hotels and resorts in multiple nations, 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. Its name derives from Captain James Cook, who navigated the HMS Endeavour through the archipelago on June 3, 1770, which was Whit Sunday.
Evan Burton
Elara is a passionate storyteller and writing coach, sharing her experiences to inspire others in their creative pursuits.
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