Blackstone has agreed to acquire Hamilton Island resort and marina in north-eastern Australia’s Whitsunday Islands in a deal reported to be worth around $1.2bn.
The acquisition by real estate funds managed by Blackstone remains subject to customary regulatory approvals and will transfer ownership of the property from the Oatley family, who have owned and developed the resort for more than two decades.
Hamilton Island is located within the World Heritage–listed Great Barrier Reef and spans more than 2,800 acres across two islands.
The island comprises five hotels, more than 20 restaurants and bars, retail outlets, a golf course, a commercial airport and a 301-berth marina capable of accommodating superyachts up to 60 metres- around 70% of the island remains undeveloped.
We are honoured to build on the vision and dedication that the Oatley family has brought to investing in its transformation.
Chris Heady
The Oatley family has said the island’s transformation is down to sustained investment following its acquisition by the late wine entrepreneur and yachtsman, Bob Oatley.
In 2003, he purchased the island for a reported $200 million and continued to invest in the archipelago until his death in 2016.
The marina has become a key gateway for superyacht traffic in the Whitsundays. Facilities offered include berthing, technical services and direct access to cruising grounds such as Whitehaven Beach and the surrounding reef systems.
“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,” explained Chris Heady, chairman of Asia Pacific and head of real estate Asia, Blackstone.
Long-term success
“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.”
The Oatley family of Sandy, Ian and Rosalind, added: “Hamilton Island has a special place in the hearts of many Australians.
“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.
Expanding footprint
“We are delighted to have a partner of Blackstone’s calibre and resources to continue the legacy, while supporting our people and island community.”
The transaction will build on Blackstone’s expanding footprint in marine infrastructure.
In February 2025, the group acquired Safe Harbor Marinas for US$5.7bn, making it one of the largest marina deals to have ever taken place.
Australia is home to some of Blackstone’s most significant investments including Crown Resorts, the country’s largest hospitality employer.
