US-based alternative investment firm, Blackstone Inc. (“Blackstone”), is acquiring Hamilton Island, an integrated resort destination in the Whitsunday Islands in Queensland, Australia from the Australia-based Oatley family. Market sources indicate that the transaction is valued at approximately AUD1.2 billion, representing a significant uplift from the Oatley family’s original acquisition of the resort in 2003 for approximately AUD300 million, as well as the reported AUD350 million invested in improvements to the island over the years. Situated on the fringe of the Great Barrier Reef, Hamilton Island spans approximately 1,133 hectares across two islands, of which 70% remains undeveloped. The destination comprises five hotels, over 20 F&B outlets, 20 retail outlets, a golf course located on neighbouring Dent Island, a marina and the Hamilton Island Airport.
