Another week and another business is pulling out of the formerly great city of San Francisco. Well, two businesses actually, though they are owned by the same parent company. The Hilton San Francisco Union Square Hotel is the largest in the city. The Parc 55 Hotel is the fourth largest. Both are owned by Park Hotels & Resorts, which is stopping payments on a massive loan for the two hotels and allowing them to go into foreclosure. It is simply no longer safe or profitable to operate such an operation in San Francisco. The CEO of the company described the move as a “very difficult, but necessary” decision. (National Review)Read More
Two of San Fran’s largest hotels are bailing out
