Blackstone Agrees to Buy Hamilton Island in Australia for Approximately $1.2 Billion
U.S. private equity firm Blackstone reaches agreement to acquire one of Australia’s most popular tourist destinations from the Oatley family.
U.S. private equity firm Blackstone has agreed to acquire Hamilton Island, a renowned holiday destination in Queensland’s Whitsundays, in a landmark tourism sector transaction valued at approximately $1.2 billion.
The deal, announced in late December 2025, will see Blackstone purchase the resort island from the Oatley family, which has owned and developed the property for more than two decades.
Hamilton Island, one of Australia’s most recognised resorts in the heart of the Great Barrier Reef, spans more than 1,130 hectares across two islands in the Coral Sea.
The integrated tourism operation includes five hotels, more than twenty restaurants and bars, retail outlets, a marina, a commercial airport and an eighteen-hole championship golf course on nearby Dent Island.
The Oatley family, led historically by the late Bob Oatley, purchased Hamilton Island in 2003 for about $200 million and transformed it over the ensuing two decades into a major global tourist attraction.
In a joint statement, the family said they welcomed Blackstone as a new owner and expressed confidence that the firm’s resources will help sustain the island’s long-term success and support its local community of residents, workers and regional partners.
Representatives from Blackstone, including Chris Heady, Chairman of Asia Pacific and Head of Real Estate Asia, said the firm was “honoured” to take on Hamilton Island and to build on the Oatley family’s vision.
Blackstone noted that hospitality and leisure remain strategic investment themes for the company globally, and that the acquisition aligns with its broader portfolio commitments in Australia and the Asia-Pacific region.
The transaction remains subject to customary regulatory approvals, a step expected given the scale of the acquisition and the island’s economic importance to the Whitsundays region.
Hamilton Island plays a prominent role in local employment and tourism infrastructure, supporting not only on-island businesses but also a wide network of suppliers and service providers throughout Queensland.
The deal, announced in late December 2025, will see Blackstone purchase the resort island from the Oatley family, which has owned and developed the property for more than two decades.
Hamilton Island, one of Australia’s most recognised resorts in the heart of the Great Barrier Reef, spans more than 1,130 hectares across two islands in the Coral Sea.
The integrated tourism operation includes five hotels, more than twenty restaurants and bars, retail outlets, a marina, a commercial airport and an eighteen-hole championship golf course on nearby Dent Island.
The Oatley family, led historically by the late Bob Oatley, purchased Hamilton Island in 2003 for about $200 million and transformed it over the ensuing two decades into a major global tourist attraction.
In a joint statement, the family said they welcomed Blackstone as a new owner and expressed confidence that the firm’s resources will help sustain the island’s long-term success and support its local community of residents, workers and regional partners.
Representatives from Blackstone, including Chris Heady, Chairman of Asia Pacific and Head of Real Estate Asia, said the firm was “honoured” to take on Hamilton Island and to build on the Oatley family’s vision.
Blackstone noted that hospitality and leisure remain strategic investment themes for the company globally, and that the acquisition aligns with its broader portfolio commitments in Australia and the Asia-Pacific region.
The transaction remains subject to customary regulatory approvals, a step expected given the scale of the acquisition and the island’s economic importance to the Whitsundays region.
Hamilton Island plays a prominent role in local employment and tourism infrastructure, supporting not only on-island businesses but also a wide network of suppliers and service providers throughout Queensland.
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