Blackstone has agreed to acquire Hamilton Island, the resort and marina in north-eastern Australia’s Whitsunday Islands, in a deal reported by local media at a cost of $1.2bn. The move comes amid the firm’s growing institutional appetite for leisure assets anchored by marina infrastructure.

The acquisition by real estate funds managed by Blackstone remains subject to customary regulatory approvals and will transfer ownership of the island from the Oatley family, who have owned and developed the resort for more than two decades.

“Hamilton Island is an exceptional destination, and we are honoured to build on the vision and dedication that the Oatley family has brought to investing in its transformation and add a standout asset to our portfolio,” says Chris Heady, chairman of Asia Pacific & head of Real Estate Asia, Blackstone.

“Hospitality and leisure is a key investment theme at Blackstone globally, including in the Asia Pacific region, where we’ve brought scale and operational expertise to invest in and build leading brands. We are committed to investing in the long-term success of Hamilton Island, its people, and its local businesses and community.”

The Queensland resort is located within the World Heritage–listed Great Barrier Reef and spans more than 2,800 acres across two islands, with around 70 per cent of the area remaining undeveloped. The island includes five hotels, a commercial airport and a 301-berth marina capable of accommodating superyachts up to 60 metres.

The marina has become a key gateway for superyacht traffic in the Whitsundays, offering berthing, technical services and direct access to cruising grounds including Whitehaven Beach and the surrounding reef systems. For global investors, such assets are increasingly viewed as resilient infrastructure plays, combining constrained supply with long-term demand from ultra-high-net-worth yacht owners.

The transaction builds on Blackstone’s expanding footprint in marine infrastructure. Last year, the group acquired Safe Harbor Marinas for US$5.7bn, one of the largest marina deals on record.

The Oatley family credited the island’s transformation to sustained investment following its acquisition by the late wine entrepreneur and avid yachtsman, Bob Oatley. In 2003, Oatley reportedly purchased the island for around $200 million and continued to invest in the archipelago until his passing in 2016.

“Hamilton Island has a special place in the hearts of many Australians,” says Ian, Rosalind and Sandy Oatley, children of the late yachtsman.

“For more than two decades, the family’s passion, led by Bob Oatley, has made significant investments to transform the island into one of Australia’s most loved and visited destinations, renowned for its natural beauty, variety of world-class accommodation, amenities and experiences and ensuring its place as Australia’s Tropical Island. We are delighted to have a partner of Blackstone’s calibre and resources to continue the legacy, while supporting our people and island community.”

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.