Billionaire Jeff Greene Explores Sale of Palm Beach Luxury Hotel

Billionaire Jeff Greene is exploring a sale of the Tideline Palm Beach Ocean Resort and Spa.

Greene is working with adviser Eastdil Secured to approach would-be buyers for the property. The process could value the oceanfront hotel at more than $150 million, according to people familiar with the matter who asked not to be identified citing private information.

The hotel, which includes nearly 3 acres (1.2 hectares) of beachfront, is being marketed unencumbered by brand and management contracts, the people said.

“We’ve loved owning the hotel,” Greene said. “We’d only sell it at the right price.”

A representative for Eastdil ...