Great Barrier Reef’s Hamilton Island to be bought by US private equity firm in reported $1.2bn sale

Blackstone says it has agreed to buy popular Whitsundays island from Australian winemaking family

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Hamilton Island, a popular tropical holiday destination on the Great Barrier Reef, has been sold to a US private equity firm, reportedly for $1.2bn.

New York-headquartered Blackstone – which owns the casino-hotel chain Crown Resorts – released a statement on Tuesday night announcing it had entered into an agreement to acquire the Hamilton Island resort from the Oatley family, subject to customary regulatory approvals.