Florida Keys Resort, Favored by George H.W. Bush, Listed for $300 Million

Northwood Investors is exploring a sale of Cheeca Lodge & Spa in the Florida Keys as hotel investors chase assets that appeal to affluent vacationers.

Northwood is working with adviser Jones Lang LaSalle Inc. to approach potential buyers for the resort in Islamorada, according to people with knowledge of the effort. A sale could value the property at around $300 million, the people said, asking not to be named because the process is private.