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The Hamilton Island Resort, a Popular Tropical Holiday Destination on the World Heritage Reef, Reportedly Set to be Sold by US Private Equity Firm.
A major resort island situated on the Great Barrier Reef has entered into an agreement for sale to a US-based investment group in a deal reportedly valued at A$1.2 billion.
âIt is an honor to build on the legacy and commitment that the Oatley family has established in the center of the iconic Great Barrier Reef,â said a senior representative.
Details of the Sale
The New York-headquartered, the investment firm Blackstone â the owner of the hospitality group Crown Resorts â confirmed it had signed an deal to purchase the island resort from the Oatley family, pending customary approvals from regulators.
The family issued a comment saying they were pleased with the new owners of an island that holds a âunique position in the affections of countless Australiansâ and is known as âAustraliaâs Tropical Islandâ.
Hamilton Island's Size and Amenities
Positioned almost 900km north of Brisbane and about 500km south of Cairns, the island spans over 1,130 hectares spanning two separate islands.
Roughly thirty percent of the area is developed, including a substantial range of facilities:
- Five separate hotels
- More than 20 restaurants and bars
- 20 retail outlets
- An 18-hole championship golf course on neighboring Dent Island
- A marina and a functioning airport
Hamilton Island is noted as a significant employer in the Whitsundays, sustaining a large on-island community and workforce, as well as a wide network of local partners, vendors, and local businesses.
Historical Context at The Island's History
The late Robert Oatley, a renowned sailor and vintner, first bought the resort for $200 million in 2003 after spying the island from aboard a yacht during a voyage through the Whitsundays.
Hamilton's major development phase initially started in the 1980s. For decades prior that, it was home to simple iron huts and modest accommodations that housed domestic holidaymakers from the outback and from the south.
The Buyer's Other Holdings and Local Heritage
Blackstone also owns luxury hotels and resorts in several countries, 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. The name comes from Captain James Cook, who sailed the Endeavour through the island group on June 3, 1770, which was Whit Sunday.
Christine Klein
An avid explorer and travel writer with over a decade of experience in documenting remote destinations and outdoor adventures.
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