🔗 Share this article Hamilton Island, a Iconic Tropical Getaway on the Great Barrier Reef, Reportedly Set to be Acquired by US Investment Giant. An iconic resort island located on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a American private equity firm in a deal said to be worth A$1.2 billion. “We are honored to continue the legacy and commitment of the family owners has built in the heart of the World Heritage-listed 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 – confirmed it had signed an agreement to acquire the island resort from the Oatley family owners, subject to customary approvals from regulators. The family released a statement saying they welcomed the new owners of an island that holds a “special place in the hearts of countless Australians” and is referred to as “Australia’s Tropical Island”. The Island's Size and Amenities Located almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton spans over 1,130 hectares spanning two separate islands. Roughly 30% of the area is built upon, including a substantial array of amenities: Five hotels Over twenty dining and drinking venues 20 retail outlets An 18-hole championship golf course on adjacent Dent Island A marina and a functioning airport The resort is noted as a major job provider in the Whitsunday region, sustaining a sizable resident community and workforce, as well as a broad network of regional partners, vendors, and local businesses. A Look Back at Ownership The late billionaire Robert Oatley, a renowned sailor and winemaker, originally purchased the resort for $200 million in 2003 after spotting the island from aboard a yacht while sailing through the Whitsunday passage. Hamilton's major development phase first began in the 1980s. For decades prior that, it was home to simple iron huts and more humble quarters that housed Australian vacationers from the outback and from the south. The Buyer's Other Holdings and Regional Background The acquiring firm has ownership of hotels and luxury resorts in several nations, such as Japan, India, the Maldives, Sri Lanka, and the United States. The Whitsunday region is the traditional lands and seas of the Ngaro people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on Sunday 3 June 1770, which was Whit Sunday.