US investment group Blackstone has announced that real estate funds it manages have entered into an agreement to acquire one of Australia's leading resorts: Hamilton Island.
The resort in the Whitsunday Islands in Queensland, is being sold by the Oatley family of Rosemount Estate fame, which has owned it for over two decades.
The sale is subject to customary regulatory approvals, Blackstone said in a media statement.
Hamilton Island is located on the World Heritage-listed Great Barrier Reef, the world’s largest coral reef. It spans spans more than 2,800 acres across two islands (around 70% of which remains undeveloped) and comprises five hotels, more than 20 restaurants and bars, 20 retail outlets, an 18-hole championship golf course on neighbouring Dent Island, a marina, and a commercial airport.
Chris Heady, chairman of Asia Pacific & Head of Real Estate Asia, Blackstone, said: “Hamilton Island is an exceptional destination, and we are honoured 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.
"Hospitality and leisure is a key investment theme at Blackstone globally including in the Asia Pacific region, where we’ve brought scale and operational expertise to invest in and build leading brands.
“We are committed to investing in the long-term success of Hamilton Island, its people, and its local businesses and community.”
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