'While the timing of this may appear less than ideal, we fully expect new ownership to come forth,' said Hotel Council of San Francisco President and CEO Alex Bastian.
Ownership of two major downtown San Francisco hotels is up in the air after a Virginia-based real estate investment firm announced it will stop paying a multimillion dollar loan.
Park Hotels & Resorts Chairman and CEO Thomas J. Baltimore Jr. said in a statement the"very difficult, but necessary" decision was made after considering a variety of factors. The move is intended to save the company money while reducing its San Francisco footprint in favor of investing in"higher growth" Hawaii markets.
Newsom: DeSantis a 'small, pathetic man' for flying migrants to NorCal State officials are investigating a pair of private flights that flew three dozen South American migrants into California's capital city
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Owner of Biggest Hotel in San Francisco Gives Up Amid Downtown WoesThe owner of two major hotels in downtown San Francisco is preparing to give the properties up to foreclosure as the city’s downtown decline continues, with retail shops leaving the area amid crime and homelessness.
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Owner to stop paying $725M loan on 2 of San Francisco's largest downtown hotelsThe owner of two of San Francisco's largest hotels has stopped making payments on a $725 million loan, they announced on Monday. It's the latest setback for a city's downtown besieged by vacancies.
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Owner of San Francisco's largest hotels not paying property loan, plans to exit the cityThe owner of two of San Francisco’s biggest hotels will stop making payments on a massive loan it has on the properties, and because of conditions of the city, it plans to make an exit.
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Business owner abandons 'lawless' San Francisco, calls out 'horrific' city leadership: 'We're fed up'Tom Wong, a lifelong San Francisco resident and private security firm owner, joined 'Varney & Co.' after fleeing the city for the safety of the suburbs.
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Major San Francisco hotel investor will stop making loan paymentsDowntown San Francisco has been dealt another blow after an investor in one of its largest hotels said it would stop paying its loans.
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Gaylord Texan’s owner buys San Antonio resort for $800 millionThe $800 million deal gives Ryman Hospitality Properties Inc. a resort with 1,002 rooms and 268,000 square feet of indoor and outdoor meeting and event space....
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