🔗 Share this article The Hamilton Island Resort, one of the Iconic Tropical Holiday Destination on the World Heritage Reef, Reportedly Sold by American Investment Giant. A major resort island situated on the Great Barrier Reef has entered into an agreement for sale to a American investment group for a sum said to be worth A$1.2 billion. “It is an honor to continue the vision and dedication that the family owners has established in the heart of the World Heritage-listed Great Barrier Reef,” said a senior representative. Details of the Sale The New York-headquartered, the investment firm Blackstone – the owner of the casino-hotel chain Crown Resorts – announced it had signed an deal to purchase the Hamilton Island resort from the Oatley family owners, subject to standard approvals from regulators. The sellers issued a comment saying they were pleased with the change in ownership of an island that holds a “special place in the affections of countless Australians” and is known as “Australia’s Tropical Island”. Hamilton Island's Size and Amenities Located almost 900km north of Brisbane and approximately 500 kilometers south of Cairns, the island covers over 1,130 hectares across two islands. Approximately thirty percent of the land is built upon, including a substantial range of amenities: Five hotels More than 20 restaurants and bars Twenty shops and retail spaces An 18-hole championship golf course on adjacent Dent Island A marina and a functioning airport Hamilton Island is noted 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, vendors, and local businesses. A Look Back at The Island's History The late billionaire Robert Oatley, a renowned sailor and vintner, originally purchased the resort for $200 million in the year 2003 after spying the island from aboard a yacht during a voyage through the Whitsundays. Hamilton's development boom first began in the 1980s. For decades prior that, it was characterized by simple iron huts and more humble quarters that hosted Australian vacationers from inland areas and from the south. The Buyer's Other Holdings and Local Heritage Blackstone also owns luxury hotels and resorts in multiple countries, such as Japan, India, the Maldives, Sri Lanka, and the United States. The area is the ancestral territory of the Ngaro people. Its name derives from Captain James Cook, who sailed the HMS Endeavour through the archipelago on June 3, 1770, which was Whit Sunday.