An iconic tropical holiday destination located within the Great Barrier Reef has reportedly been sold to a American investment group for a sum said to be worth A$1.2 billion.
âWe are honored to continue the legacy and commitment of the family owners has established in the center of the iconic Great Barrier Reef,â stated a senior representative.
The New York-headquartered, 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 owners, pending standard regulatory approvals.
The family issued a comment saying they welcomed the new owners of an island that holds a âspecial place in the affections of countless Australiansâ and is known as âAustraliaâs Tropical Islandâ.
Positioned roughly 900 kilometers north of Brisbane and approximately 500 kilometers south of Cairns, Hamilton covers more than 1,130 hectares spanning two separate islands.
Approximately thirty percent of the land is developed, including a substantial range of facilities:
Hamilton Island is noted as a major job provider in the Whitsunday region, sustaining a sizable resident community and staff, as well as a wide network of local partners, suppliers, and local businesses.
The late billionaire Robert Oatley, a renowned yachtsman and winemaker, originally purchased the resort for $200 million in 2003 after spotting the island from the deck a yacht during a voyage through the Whitsundays.
Hamilton's development boom first began in the 1980s. In the decades before that, it was characterized by simple iron huts and modest accommodations that hosted domestic holidaymakers from the outback and southern states.
Blackstone also owns luxury hotels and resorts in multiple nations, such as Japan, India, the Maldives, Sri Lanka, and the United States.
The Whitsunday region is the ancestral territory of the Ngaro Indigenous people. The name comes from Captain James Cook, who sailed the Endeavour through the archipelago on June 3, 1770, which was Whit Sunday.
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