đ Share this article Hamilton Island, a Popular Queensland Getaway on the World Heritage Reef, Reportedly Set to be Sold by US Investment Giant. A major resort island located on the World Heritage-listed Great Barrier Reef has entered into an agreement for sale to a American investment group in a deal said to be worth A$1.2 billion. âWe are honored to continue the vision and dedication of the Oatley family has established in the heart of the World Heritage-listed Great Barrier Reef,â said a senior representative. The Reported Sale Headquartered in New York, the investment firm Blackstone â the owner of the casino-hotel chain Crown Resorts â confirmed it had signed an agreement to acquire the Hamilton Island resort from the Oatley family, subject to standard approvals from regulators. The sellers issued a comment saying they were pleased with the new owners of an island that holds a âunique position in the hearts of many Australiansâ and is known as âAustraliaâs Tropical Islandâ. Hamilton Island's Scale and Features Positioned roughly 900 kilometers north of Brisbane and about 500km south of Cairns, Hamilton spans more than 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 dining and drinking venues Twenty shops and retail spaces An 18-hole championship golf course on neighboring Dent Island A marina and a functioning airport The resort is described as a major job provider in the Whitsunday region, supporting a sizable resident community and staff, as well as a wide network of regional partners, vendors, and area businesses. A Look Back at Ownership The late billionaire Robert Oatley, a well-known sailor and vintner, originally purchased the resort for A$200 million in the year 2003 after spying the island from aboard a yacht during a voyage through the Whitsundays. Hamilton's development boom initially started in the 1980s. For decades prior that, it was home to simple iron huts and more humble quarters that hosted domestic holidaymakers from inland areas and from the south. The Buyer's Other Holdings and Local Heritage Blackstone has ownership of hotels and luxury resorts in several countries, including 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 comes from Captain James Cook, who navigated the Endeavour through the archipelago on June 3, 1770, which was the Christian holiday of Whit Sunday.