"New York-headquartered Blackstone which owns the casino-hotel chain Crown Resorts released a statement on Tuesday night announcing it had entered into an agreement to acquire the Hamilton Island resort from the Oatley family, subject to customary regulatory approvals. The Oatley family released a statement saying they welcomed the new owners of an island that has a such a special place in the hearts of many Australians that it has become Australia's Tropical Island."
"Blackstone said Hamilton spanned more than 1,130 hectares across two islands, 30% of which is developed, consisting of five hotels, more than 20 restaurants and bars, 20 retail outlets, an 18-hole championship golf course on neighboring Dent Island, a marina and a commercial airport. Hamilton Island is a significant employer in the Whitsundays, supporting a large on-island community and workforce as well as a broad network of regional partners, suppliers, and local businesses, it said in a statement."
Hamilton Island, a major tourist resort on the Great Barrier Reef, has been sold to New York-headquartered private equity firm Blackstone for a reported $1.2bn, subject to customary regulatory approvals. The resort spans more than 1,130 hectares across two islands, with about 30% developed, and includes five hotels, over 20 restaurants and bars, 20 retail outlets, an 18-hole championship golf course on Dent Island, a marina and a commercial airport. The Oatley family welcomed the sale. The island supports a large on-island community and a broad network of regional partners, suppliers and local businesses. Blackstone says it plans long-term investment in the island and its people.
Read at www.theguardian.com
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