Hilton hotel in San Francisco defaults on its mortgage as 544-room facility where a nights stay cost $166 misses $97million loan payments in growing ‘doom loop’ for liberal city

• The Hilton Financial District reported $11.1 million in revenue in the third quarter of 2023, down from $12.3 million a year prior
• The city’s hospitality sector is faltering alongside the rise in crime , homelessness , and public drug use 

A Hilton Hotel in San Francisco has defaulted on its mortgage, missing its $97 million loan payment – in the latest in the ‘doom loop’ crisis for the liberal city.  

The city’s hospitality sector is faltering alongside the rise in rampant crime, debilitating homelessness, and dangerous public drug use – with fewer people wanting to visit San Fran compared to before the pandemic. 

According to a securities filing, the owner of the Hilton Financial District, a 544-room hotel, said it defaulted on a loan last Wednesday. It was warned that its lenders could potentially seek to foreclose on the property if an agreement is not reached. 

According to the San Francisco Chronicle, the Hilton Financial District reported $11.1 million in revenue in the third quarter of 2023, down from $12.3 million a year prior.

The hotel had also dropped its room prices, from an average of $218-a-night compared to $230, as the number of people occupying the hotel rooms also fell. 

In October, businesses and billionaires funneled millions of dollars into a new campaign to ‘save San Francisco’ and improve its image, even as the crime-ridden city falls into a ‘doom loop’ spiral of economic collapse.

‘It All Starts Here’ is a $4 million civic pride campaign financed by chairman of the cryptocurrency company Ripple, Chris Larsen, and Gap board member Bob Fisher.

‘We are frustrated by the negative national narrative of our City and instead of complaining about it, a group of leaders have come together to do something about it,’ said the campaign website.

Gap Inc., Levi’s, Lyft, OpenAI, SF Giants and Uber are involved in the effort, while the city has reported more than 40,000 crimes this year and is experiencing a mass exodus of businesses.

In October, seven Starbucks stores in San Francisco’s downtown area announced they were planning to close as the city continues to deal with crime, drug use, and a homelessness epidemic.

The coffee company announced the locations of the stores which will shutter effective October 22 as part of an evaluation of the company’s portfolio.

Just days ago, a TikTok celebrity food critic cut short his trip to the Bay Area due to ‘shocking’ safety concerns – as he claimed San Francisco and Oakland are filled with tents and burned-out cars.

Keith Lee, who has 15.6million followers on TikTok, announced on Thursday that he would be abandoning the anticipated trip, citing unsafe conditions and less-than-stellar food choices. 

‘The Bay Area food tour is officially over prematurely,’ the content creator said before explaining the three major reasons behind his decision. 

He added: ‘I truly don’t believe the Bay is a place for tourists right now… the people of the Bay are just focused on surviving…. The amount of tents and living structures and burnt-out cars that we saw people living in was shocking to say the least.

‘Just from the outside looking in, it don’t seem like it was much city interference.’

The available food in the Bay Area was also not up to standard, Lee said, explaining that he went to six food spots he decided to not review because he had ‘nothing constructive’ to say.

He said: ‘I’ve always been big on honesty, I’ve always been big on transparency, but I’ve never been big on completely tearing down anybody, and I feel like those six videos were only doing that.’

Lee claimed if he can’t post the videos, he would lose the money he invested on the trip.

Finally, Lee shared that he was hospitalized after suffering an allergic reaction to food he was served in the Bay Area. He claimed he asked the restaurant to clean the grill after cooking shellfish, but that he ‘blew up like a balloon’ after eating his meal. 

Lee had previously claimed he was not concerned about his trip to the Bay Area, posting a TikTok where he shared social media comments showing people warning him about safety there.

‘I go where I feel like I’m supposed to go, I go by faith and not by sight, and I heard a lot of people calling the Bay Gotham City, and the way my mind works, that’s even more reason for me to go,’ he said before the trip.