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.
