Blackstone to Buy Australia’s Hamilton Island for $1.2B

Blackstone Inc., the US-based private equity and one of the world’s largest investment firms, has agreed to acquire Hamilton Island, one of Australia’s premier resort destinations, in a landmark hospitality transaction.

Transaction details

The purchase agreement, valued at approximately $1.2 billion, involves acquiring the integrated resort from the Oatley family, who have owned and developed the property for over 20 years.

Completion of the sale remains subject to standard regulatory approvals, including likely scrutiny from the Queensland government.

Hamilton Island, situated in the Whitsunday Islands off Queensland’s Great Barrier Reef, spans more than 1,133 hectares. The resort includes five hotels, over 20 restaurants and bars, retail outlets, a marina, a commercial airport, and an 18-hole championship golf course on neighboring Dent Island.

Historical context

Bob Oatley purchased Hamilton Island in 2003 and transformed it into a luxury resort with a broad mix of accommodations for families and upscale travelers. Under the Oatley family, the resort became a major economic driver for the region, supporting local jobs and a network of suppliers.

Blackstone’s acquisition signals a new phase of institutional capital flowing into Australia’s luxury hospitality sector, potentially driving further upgrades, expanded services, and stronger marketing outreach.

This move aligns with Blackstone’s renewed interest in global hospitality. Recently, the firm acquired Four Seasons Hotel San Francisco for $130 million, marking its first hotel purchase in that city in nearly ten years.

Photo by Alan Hunter on Unsplash