[ April 11, 2026 ]
The Democrats have destroyed this once jewel of a city. And the chief villain in the California debacle, Governor Gavin Newsom, is the Democrat party’s golden boy with the White House in their sights.
National Review: The owner of two of San Francisco’s largest downtown hotels is stopping mortgage payments and going into foreclosure on the properties, stating that the city faces “major challenges” and that reducing exposure to the market is in the best interest of investors. Park Hotels & Resorts said Monday that it was stopping payment on a $725 million loan secured by the two hotels, the 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55. The Hilton is San Francisco’s largest hotel, and Parc 55 is the fourth largest. Thomas J. Baltimore Jr., CEO of the Virginia-based company, called the decision “very difficult, but necessary,” noting record-high downtown office vacancy, “concerns over street conditions,” and reduced convention business.
Park Hotels & Resorts said Monday that it was stopping payment on a $725 million loan secured by the two hotels, the 1,921-room Hilton San Francisco Union Square and 1,024-room Parc 55.
ADVERTISEMENTThe Hilton is San Francisco’s largest hotel, and Parc 55 is the fourth largest.
Thomas J. Baltimore Jr., CEO of the Virginia-based company, called the decision “very difficult, but necessary,” noting record-high downtown office vacancy, “concerns over street conditions,” and reduced convention business.
“After much thought and consideration, we believe it is in the best interest for Park’s stockholders to materially reduce our current exposure to the San Francisco market,” Baltimore said in a prepared statement. “Now more than ever, we believe San Francisco’s path to recovery remains clouded and elongated by major challenges – both old and new.”
Daily Mail: In 2019, Hilton San Francisco Union Square and Parc 55 earned $175.4 million and $95 million in room revenue, respectively. But by 2022, those figures fell to less than $30 million each, according to The San Francisco Standard. Park Hotels now estimates that it will save over $200 million in capital expenditures over the next five years just by offloading the properties and could even offer special dividends to shareholders of $150 to $175 million
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