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Hamilton Island owners weigh up sale
The iconic Hamilton Island could soon be up for sale as its billionaire owners bring in advisors to assess the future of the tourism destination.
Century Resorts Holdings, a company controlled by the Oatley family, bought Hamilton Island 20 years ago for close to $200 million and since then the island has become a key tourism attraction in the Whitsunday Islands off Queensland's coast.
A Hamilton Island spokesperson confirmed the team is looking to explore the future of the island.
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"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."
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The Australian Financial Review reported Hamilton Island could now be worth around $1 billion.
Since the Oatley family purchased the island, they have put $450 million into upgrading its tourism facilities.
The island hosts five hotel accommodations with an annual occupancy of 75 per cent – the island can host up to 5000 guests.
