Thursday, September 14, 2023
The historic Hamilton Island might be up for sale shortly as its wealthy owners call in advisers to review the tourism destination’s future. A spokeswoman for Hamilton Island acknowledged that the team is looking into the island’s future.
Century Resorts Holdings, a firm run by the Oatley family, purchased Hamilton Island for about $200 million 20 years ago, and the island has since become a prominent tourism attraction in the Whitsunday Islands off Queensland’s coast.
“The Oatley family has been a proud steward of Hamilton Island for 20 years and has invested significant time, affection and resources to deliver its vision for a world-class tourism destination on the Great Barrier Reef,” the spokesperson said.
“As it looks to the future the family has put in place a new leadership and approach and is conducting a review with the assistance of its advisors, to explore opportunities for growth and future prosperity.
“At this stage this review is ongoing and no decisions have been made.
“We do not intend to comment further until any recommendations have been considered.”
According to the Australian Financial Review, Hamilton Island is currently valued over $1 billion. Since purchasing the island, the Oatley family has invested $450 million in improving its tourism amenities.
The island has five hotel rooms with a 75% yearly occupancy and the island can accommodate up to 5000 visitors.
Tags: Australia, hamilton island
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