Hamilton Island on Great Barrier Reef Sold to US Firm Blackstone for $1.2 Billion
Hamilton Island, a prominent tourist destination on the Great Barrier Reef, has been sold to the New York-based private equity firm Blackstone for about $1.2 billion. The deal has been agreed upon and is currently subject to regulatory approvals.
The island was previously owned by the Oatley family, with the late Robert Oatley having purchased the resort in 2003 for approximately $200 million. Blackstone, which also owns Crown Resorts, is expanding its hospitality portfolio through this acquisition.
Situated roughly 900 km north of Brisbane and 500 km south of Cairns in Queensland’s Whitsundays, Hamilton Island spans over 1,130 hectares across two islands. Around 30% of the island is developed, featuring five hotels, more than 20 restaurants and bars, 20 retail outlets, an 18-hole golf course on Dent Island, a marina, and a commercial airport.
The Oatley family referred to Hamilton Island as a special place in Australians’ hearts and dubbed it Australia’s Tropical Island. Blackstone expressed its commitment to investing in the long-term success of Hamilton Island, its community, and people. Regional head of real estate Chris Heady emphasized the importance of honoring the vision set by the Oatley family.
