🔗 Share this article The Hamilton Island Resort, one of the Iconic Queensland Getaway on the World Heritage Reef, Reportedly Set to be Acquired by US Investment Giant. A major tropical holiday destination situated within the Great Barrier Reef has reportedly been sold to a American investment group in a deal 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,” said a senior representative. The Reported Sale Headquartered in New York, 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, pending customary approvals from regulators. The family released a statement noting they welcomed the change in ownership of an island that holds a “unique position in the affections of many Australians” and is referred to as “Australia’s Tropical Island”. The Island's Scale and Features Located roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, the island covers more than 1,130 hectares across two islands. Roughly thirty percent of the land is developed, including a significant array of facilities: Five hotels More than 20 restaurants and bars 20 retail outlets An championship 18-hole golf course on neighboring Dent Island A boat marina and a functioning airport Hamilton Island is described as a significant employer in the Whitsunday region, supporting a large on-island community and workforce, as well as a broad network of local partners, vendors, and local businesses. A Look Back at Ownership The deceased billionaire Robert Oatley, a well-known yachtsman and vintner, first bought the resort for $200 million in 2003 after spotting the island from the deck a yacht while sailing through the Whitsunday passage. The island's development boom first began in the 1980s. For decades prior that, it was home to simple iron huts and modest accommodations that housed Australian vacationers from the outback and southern states. Broader Portfolio and Local Heritage The acquiring firm also owns hotels and luxury resorts in several nations, such as Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro Indigenous people. The name derives from Captain James Cook, who navigated the HMS Endeavour through the island group on June 3, 1770, which was the Christian holiday of Whit Sunday.