San Francisco's Hilton Union Square, the largest hotel outside Las Vegas, is facing auction, with potential conversion to apartments hinted as city struggles with tourism.
The hotel's surrender to lenders highlights a shift in the post-pandemic market, as properties lose value and operational viability, adding pressures on San Francisco's hotel sector.
Consultant Alan Reay describes the Hilton as 'functionally obsolete,' emphasizing the impact of ongoing worker strikes and cancellations which exacerbate its struggling business model.
The potential conversion to residential apartments raises concerns for city leaders, as losing significant hotel stock could further undermine San Francisco’s tourist and convention appeal.
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