US firm in talks to acquire Hamilton Island
One of Australia’s best-known island resorts could soon get a new owner.
According to the AFR, US investment firm Blackstone is reportedly in talks to acquire the Hamilton Island in Queensland.
It could cost upwards of $1 billion.
The destination is owned by the Oatley family which bought it 20 years ago and has spent more than double that amount on it.
Hamilton Island is a gateway to the Great Barrier Reef region and has its own airport with scheduled flights from the mainland.
Blackstone has a large hospitality sector portfolio globally which includes Australia’s Crown Resorts.
Previously, another major investor KSL Capital, tabled a bid for Hamilton Island but the $900 million offer was rejected.
One of the larger islands in the Whitsundays, Hamilton Island was first developed about 40 years ago.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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