🔗 Share this article Hamilton Island, a Popular Tropical Getaway on the Great Barrier Reef, Reportedly Sold by American Private Equity Firm. A major resort island located on the World Heritage-listed Great Barrier Reef has reportedly been sold to a American investment group for a sum said to be worth A$1.2 billion. “We are honored to build on the legacy and commitment of the family owners has built in the heart of the World Heritage-listed Great Barrier Reef,” said a company executive. The Reported Acquisition Agreement Headquartered in New York, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – confirmed it had signed an agreement to acquire the island resort from the Oatley family owners, pending standard approvals from regulators. The family issued a comment noting they welcomed the change in ownership of an island that holds a “special place in the hearts of many Australians” and is known 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 covers over 1,130 hectares across two islands. Roughly 30% of the area is built upon, featuring a substantial array of facilities: Five separate hotels Over twenty dining and drinking venues Twenty shops and retail spaces An championship 18-hole golf course on neighboring Dent Island A marina and a functioning airport Hamilton Island is described as a major job provider in the Whitsunday region, supporting a large on-island community and workforce, as well as a wide network of local partners, vendors, and area businesses. A Look Back at The Island's History The deceased billionaire Robert Oatley, a renowned yachtsman and vintner, first bought the resort for A$200 million in 2003 after spotting the island from the deck a yacht while sailing through the Whitsundays. The island's major development phase first began in the 1980s. For decades prior that, it was characterized by simple iron huts and more humble quarters that housed Australian vacationers from inland areas and southern states. Broader Portfolio and Local Heritage The acquiring firm has ownership of hotels and luxury resorts in multiple countries, such as Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the ancestral territory of the Ngaro Indigenous people. The name derives from Captain James Cook, who navigated the Endeavour through the island group on June 3, 1770, which was the Christian holiday of Whit Sunday.