🔗 Share this article Hamilton Island, a Popular Tropical Getaway on the World Heritage Reef, Reportedly Set to be Acquired by US Private Equity Firm. An iconic resort island located on the World Heritage-listed Great Barrier Reef has reportedly been sold to a US-based private equity firm in a deal said to be worth 1.2 billion Australian dollars. “It is an honor to build on the vision and dedication of the Oatley family has established in the center of the World Heritage-listed Great Barrier Reef,” said a senior representative. The Reported Sale Headquartered in New York, Blackstone – the owner of the casino-hotel chain Crown Resorts – confirmed it had entered into an deal to purchase the island resort from the Oatley family, pending customary approvals from regulators. The sellers released a statement saying they were pleased with the change in ownership of an island that holds a “unique position in the affections of countless Australians” and is referred to as “Australia’s Tropical Island”. Hamilton Island's Size and Amenities Positioned almost 900km north of Brisbane and about 500km south of Cairns, Hamilton spans over 1,130 hectares across two islands. Approximately thirty percent of the area is developed, including a substantial range of amenities: Five separate hotels More than 20 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 Whitsundays, supporting a large on-island community and staff, as well as a broad network of local partners, suppliers, and area businesses. Historical Context at Ownership The late billionaire Robert Oatley, a well-known sailor and vintner, first bought the resort for A$200 million in 2003 after spotting the island from the deck a yacht during a voyage 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 housed domestic holidaymakers from the outback and from the south. The Buyer's Other Holdings and Local Heritage The acquiring firm also owns luxury hotels and resorts in multiple nations, including Japan, India, the Maldives, Sri Lanka, and the United States. The area is the traditional lands and seas of the Ngaro Indigenous people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the archipelago on Sunday 3 June 1770, which was the Christian holiday of Whit Sunday.