‘House of cards waiting to collapse’: This major hotel company just wrote off San Francisco, stops payments on 4-star properties due to 'major challenges' — will others follow suit?
http://finance.yahoo.com/news/house-cards-waiting-collapse-major-130000758.html
June 12, 2023
Hotelier Park Hotels & Resorts Inc. (NYSEK) is handing in the keys for two of San Francisco’s most prominent hotels due to “major challenges” in the city.
As of June, Park — one of the largest publicly-traded lodging real estate investment trusts (REITs) — is no longer making payments towards a $725 million loan tied to the Hilton San Francisco Union Square and the Parc 55 San Francisco.
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Mad Poet Strikes Again.