Owner of San Francisco's largest hotels not paying property loan, plans to exit the city

City leaders have tried to blunt the growing reports of retailers leaving town, saying in many cases it's partially due to an overall trend toward shopping online.

But the perception of crime, open air drug use, and homelessness, is something they're continuing to combat.“I didn't know that you have, well I knew about it but, the homelessness is such a big problem here,” said Nives Stalver, visiting from Switzerland. Belisario said there are signs of a possible recovery at some point, if city leaders can effectively change perceptions about the safety of the city.

Belisario also said both hotels will likely continue operating but will have to do so with different owners.

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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. UPDATE: President & CEO of Hotel Council of San Francisco says the hotels are open for business and expects new ownership to come forth. 'It is not uncommon for hotel ownership to change.'
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