Blackstone Acquires Hamilton Island for $1.2 Billion

Blackstone has entered an agreement to acquire Hamilton Island, a vacation destination located near the Great Barrier Reef in Australia. The deal is valued at $1.2 billion and was announced on December 23. The island spans over 2,800 acres across two islands, with the majority of the land remaining undeveloped.

The acquisition builds on Blackstone's global position in leisure and hospitality. The investment firm's real estate portfolio, which includes numerous vacation destinations worldwide, was valued at $611 billion as of September 2025. The deal is subject to customary regulatory approvals.

Blackstone announced on December 23 that it entered an agreement to acquire Hamilton Island. The deal is valued at $1.2 billion, according to reports. The investment firm stated that the acquisition builds on its leading global position in leisure and hospitality, particularly in the Asia Pacific (APAC) region.

Blackstone has made significant investments across Australia, Japan, and India. As of September 2025, the firm valued its real estate portfolio at $611 billion. The acquisition of Hamilton Island adds a major vacation destination to this portfolio.

The deal is currently subject to customary regulatory approvals before it can be finalized.

Hamilton Island is part of the Whitsunday Islands chain in Queensland, located off the northeast coast of Australia. The island is situated near the Great Barrier Reef, a UNESCO World Heritage Site. The Ngaro people originally lived on the Whitsunday Islands.

The island measures 2,800 acres across two islands. Key infrastructure includes:

• Five hotels
• 20 retailers
• Over 20 restaurants and bars
• A commercial airport
• A marina and a golf course

According to Blackstone, about 70% of the area remains undeveloped. Due to its proximity to the Great Barrier Reef, significant efforts are made to preserve the area. Sustainability initiatives include sustainable waste disposal, nature-based experiences to educate guests, island-wide erosion and sediment control measures, water treatment plans, and liquid composters.

Tourists from Australia's outback and southern region began vacationing at Hamilton Island in the 1920s. The island transformed into a resort destination in the 1980s under Keith Williams, who owned and operated the island for two decades. During that time, Williams built the island's marina and a resort.

The island was later acquired by the family of Bob Oatley, a famous Australian winemaker. The Oatley family has invested millions of dollars each year on upgrading the infrastructure, accommodations, and services on Hamilton Island.

Hamilton Island offers a range of activities for guests of all ages. These include ATV riding for children, snorkeling, mountain biking, a golf club, and a yacht club.

Sailing is a particularly popular activity due to the island's position near the Coral Sea. In addition to the marina and local yacht club, Hamilton Island has hosted an annual sailing race week for four decades. The next race week is scheduled for August 2026.

Nearly two decades ago, Queensland's tourism office launched a campaign for the "Best Job in the World," a six-month stint as a caretaker on Hamilton Island. The winner, Ben Southall, beat out over 34,000 applicants from over 200 countries. The position reportedly came with a $150,000 salary and a luxury villa for accommodation.