🔗 Share this article Hamilton Island, a Popular Queensland Holiday Destination on the World Heritage Reef, Reportedly Set to be Acquired by US Investment Giant. A major resort island located within the Great Barrier Reef has reportedly been sold to a American investment group for a sum said to be worth 1.2 billion Australian dollars. “It is an honor to build on the vision and dedication that the family owners has built in the heart of the iconic Great Barrier Reef,” stated a company executive. The Reported Acquisition Agreement Headquartered in New York, the investment firm Blackstone – the owner of the hospitality group Crown Resorts – confirmed it had entered into an deal to purchase the island resort from the Oatley family, subject to customary regulatory approvals. The family issued a comment noting they welcomed the change in ownership of an island that holds a “unique position in the hearts of many Australians” and is referred to as “Australia’s Tropical Island”. Hamilton Island's Size and Amenities Located roughly 900 kilometers north of Brisbane and about 500km south of Cairns, the island spans more than 1,130 hectares spanning two separate islands. Approximately thirty percent of the area is built upon, including a significant array of amenities: Five separate hotels Over twenty dining and drinking venues 20 retail outlets An championship 18-hole golf course on neighboring Dent Island A boat marina and a functioning airport The resort is noted 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 local businesses. Historical Context at The Island's History The late billionaire Robert Oatley, a well-known sailor and vintner, originally purchased the resort for $200 million in the year 2003 after spying the island from the deck a yacht while sailing through the Whitsundays. Hamilton's major development phase initially started in the 1980s. In the decades before that, it was home to simple iron huts and modest accommodations that hosted Australian vacationers from inland areas and southern states. The Buyer's Other Holdings 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 people. Its name comes from Captain James Cook, who navigated the Endeavour through the island group on June 3, 1770, which was Whit Sunday.