Subject to regulatory approvals, the island will transfer from the ownership of the Oatley family whose patriarch, Bob Oatley, bought Hamilton Island in 2003.
The Oatleys have invested hundreds of millions of dollars in the island in the last two decades, including adding luxury resort qualia in 2007 and much more recently, The Sundays, a new 59-room premium hotel, which opened last year.
The island has its own airport and a substantial business events offering, including a variety of event spaces and several accommodation options including the Reef View Hotel alongside the Hamilton Island Conference Centre, which can host conferences of up to 1,000 delegates.
“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,” said Blackstone’s Asia Pacific chair and head of real estate in Asia, Chris Heady.
“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.”
In Australia, Blackstone also owns Crown Resorts, comprising Crown Melbourne, Crown Sydney and Crown Perth.
The Oatley family welcomed Blackstone as the new owners of Hamilton Island.
“Hamilton Island has a special place in the hearts of many Australians,” said Sandy, Ian and Rosalind Oatley.
“For more than two decades the family’s passion, led by Bob Oatley, has made significant investments to transform the island into one of Australia’s most loved and visited destinations, renowned for its natural beauty, variety of world-class accommodation, amenities and experiences and ensuring its place as Australia’s tropical island.
“We are delighted to have a partner of Blackstone’s calibre and resources to continue the legacy, while supporting our people and island community.”
