Hamilton Island Changes Hands

Locally and globally loved Hamilton Island, is set to join Blackstone’s global hospitality portfolio. Real Estate funds managed by Blackstone (NYSE: BX) have entered into an agreement to acquire the Whitsunday Islands resort from the Oatley family, subject to customary regulatory approvals.

Located in the heart of the World Heritage-listed Great Barrier Reef, Hamilton Island spans more than 2,800 acres across two islands, around 70 percent of which remains undeveloped. The resort offers five hotels, more than 20 restaurants and bars, 20 retail outlets, a championship 18-hole golf course on neighbouring Dent Island, a marina, and its own airport. The island is a major employer in the Whitsundays, supporting a vibrant local community and regional businesses.

Chris Heady, Chairman of Asia Pacific & Head of Real Estate Asia, Blackstone, said: “Hamilton Island is an exceptional destination, and we are honored to build on the vision and dedication that the Oatley family has brought to investing in its transformation and add a standout asset to our portfolio. We are committed to investing in the long-term success of Hamilton Island, its people, and its local businesses and community.”

The Oatley family said: “We would like to thank our Board and Management for achieving this outcome, and welcome the new owners Blackstone. Hamilton Island has a special place in the hearts of many Australians. We are delighted to have a partner of Blackstone’s calibre and resources to continue the legacy, while supporting our people and island community.”

Blackstone is a leading global investor in hospitality, with major holdings across Australia, Japan, India, and the United States.

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