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Owner of Two of San Francisco’s Largest Hotels Pulling Out of City: ‘Path to Recovery Remains Clouded’

SgtSpiderMan said:
Neither of those hotels have left & neither said anything about crime.

“The Hilton Union Square and the Parc 55 are open for business and will stay open for business. They are more vital than ever as we approach the summer high tourist season with a continuing increase in inbound visitors,” Alex Bastian, president and CEO of the Hotel Council of San Francisco told KRON4. “It is not uncommon for hotel ownership to change. While the timing of this may appear less than ideal, we fully expect new ownership to come forth.”

https://www.kron4.com/news/bay-area...n-parc-55-cease-payments-on-hotel-properties/
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I didn’t mean to say or imply the hotels are closing. Per the article:

“In San Francisco’s biggest potential hotel default yet, Park Hotels & Resorts last week said it has stopped making loan payments on debt secured by the Hilton San Francisco Union Square and Parc 55 San Francisco.“
 

San Francisco Mall Turned Over to Lender as Downtown Struggles​


“San Francisco Centre owner Unibail-Rodamco-Westfield cited “challenging operating conditions” in downtown San Francisco, which it said have led to declines in sales, occupancy and foot traffic. There has been an exodus of retailers and other businesses from the mid-Market Street area of downtown amid rampant public drug use and homelessness.”

https://www.wsj.com/articles/san-francisco-centre-mall-turned-over-to-lender-482bb4bf
 
Multiple malls have closed in the Cincy area.

Weirdly enough, multiple Amazon warehouses have popped up.
 
BabyBoomer50s said:

San Francisco Mall Turned Over to Lender as Downtown Struggles​


“San Francisco Centre owner Unibail-Rodamco-Westfield cited “challenging operating conditions” in downtown San Francisco, which it said have led to declines in sales, occupancy and foot traffic. There has been an exodus of retailers and other businesses from the mid-Market Street area of downtown amid rampant public drug use and homelessness.”

https://www.wsj.com/articles/san-francisco-centre-mall-turned-over-to-lender-482bb4bf
Click to expand...

More dominoes fall at an accelerated pace.
 
DECLINE IS A CHOICE: Emails show what was behind closure of San Francisco mall.

People are still going to the mall, just not in downtown San Francisco. An hour south in more suburban San Jose the Westfield owned mall is booming:
“Westfield Valley Fair in San Jose has begun to attract visitors and retail activity at levels that top the big shopping mall’s activity even prior to the outbreak of the coronavirus.”
The retail center is going through a stretch where it is attracting merchants at a brisk pace, according to Sue Newsom, senior general manager with Westfield Valley Fair…
“Our foot traffic has been exceptional,” Newsom said. “We now are way beyond our pre-COVID retail sales and foot traffic.”
That story is from March. The NY Times pointed out this week that malls nationwide are seeing increases in sales.
“At San Francisco Centre, sales fell 35 percent from 2019 to December 2022. In one of the group’s malls in nearby San Jose, it said, sales increased 66 percent during that same period. Sales across its 18 U.S. malls rose 23 percent.”
So it’s not malls in general or even the Bay Area in general that is the problem. People are choosing not to go to this particular mall.
Click to expand...
Related: ABC7 News Data Analysts looked at cities nationwide and found San Francisco ranked last out of 63 cities’ downtown recoveries.

The question isn’t whether there aren’t enough shoppers in downtown San Francisco because the offices remain empty, three years after COVID, or whether the offices remain empty because there’s nothing to do downtown any longer.

The question is why nobody wants to go downtown — which is odd because everybody knows the answer and nobody in San Francisco wants to do anything about it.
 
ispilua said:
DECLINE IS A CHOICE: Emails show what was behind closure of San Francisco mall.


Related: ABC7 News Data Analysts looked at cities nationwide and found San Francisco ranked last out of 63 cities’ downtown recoveries.

The question isn’t whether there aren’t enough shoppers in downtown San Francisco because the offices remain empty, three years after COVID, or whether the offices remain empty because there’s nothing to do downtown any longer.

The question is why nobody wants to go downtown — which is odd because everybody knows the answer and nobody in San Francisco wants to do anything about it.
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Except other malls in other cities are closing for the same reason....

Even some in *gasp* Republican cities

https://www.forbes.com/sites/pamdanziger/2023/03/20/how-to-bring-zombie-malls-back-to-life/
 

GMA’ warns reporter to avoid ‘dangerous’ downtown San Francisco during segment on closing Westfield mall​


“The mayor noting that several metrics of crime are actually flat or down. But it is worth mentioning that we are not at Union Square or the Westfield Mall this morning because we have been advised it is simply too dangerous to be there at this hour,” Gutman said.

https://nypost.com/2023/06/16/abc-r...ma-to-avoid-dangerous-downtown-san-francisco/
 
So the other cities (even *gasp* red ones).also have high crime..got it
 
SgtSpiderMan said:
Whatever Fox News will use to scare people.
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Nancy Pelosi's District which includes the famous "Tenderloin" is only a couple of blocks away from the World-famous UNION SQUARE.
It's a SHIT HOLE. Just like DumboCrat run cities. Seattle, Portland, Los Angles etc etc etc etc etc !!!

Why does San Francisco have a "POOP Patrol"?
 
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