Overview
- Media reports put the price at about A$1.2 billion, a figure Blackstone has not confirmed.
- The agreement is subject to customary reviews, with Australian and Queensland authorities expected to assess the transaction.
- Blackstone said it plans long‑term investment in the destination and highlighted its hospitality footprint, including ownership of Crown Resorts.
- The Oatley family has owned the island since 2003 and invested more than A$350 million in upgrades across hotels, dining, marina, golf course and airport.
- Hamilton Island is a major regional employer, and a recent Ombudsman finding reported nearly A$30 million in underpayments to thousands of workers.