🔗 Share this article Hamilton Island, one of the Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Acquired by American Investment Giant. An iconic resort island located within the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a American investment group for a sum reportedly valued at 1.2 billion Australian dollars. “We are honored to build on the legacy and commitment of the family owners has built in the heart of the iconic Great Barrier Reef,” stated a senior representative. Details of the Acquisition Agreement Headquartered in New York, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had entered into an agreement to acquire the island resort from the Oatley family owners, subject to standard approvals from regulators. The family issued a comment noting they were pleased with the new owners of an island that holds a “special place 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, Hamilton spans over 1,130 hectares spanning two separate islands. Approximately 30% of the area is developed, featuring a significant array of amenities: Five separate hotels Over twenty dining and drinking venues Twenty shops and retail spaces An championship 18-hole golf course on adjacent Dent Island A boat marina and a functioning airport The resort is described as a significant employer in the Whitsunday region, supporting a large on-island community and staff, as well as a wide network of local partners, suppliers, and local businesses. Historical Context at Ownership The deceased Robert Oatley, a renowned yachtsman and winemaker, first bought the resort for $200 million in 2003 after spotting the island from the deck a yacht during a voyage through the Whitsunday passage. Hamilton's development boom first began in the 1980s. In the decades before that, it was home to simple iron huts and more humble quarters that hosted Australian vacationers from the outback and from the south. The Buyer's Other Holdings and Local Heritage The acquiring firm also owns hotels and luxury resorts in multiple nations, such as Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro people. The name comes from Captain James Cook, who navigated the Endeavour through the archipelago on June 3, 1770, which was Whit Sunday.