San Francisco's Largest Hilton Hotel Complex Loses $1 Billion in Value

San Francisco's Largest Hilton Hotel Complex Loses $1 Billion in Value - Near Worthless

Рет қаралды 30,881

Күн бұрын

San Francisco's largest hotel complex, including the Hilton Union Square and Park 55 hotels, has lost $1 billion in value. This decline reflects the city's struggling commercial real estate market, exacerbated by high vacancy rates and the downturn in business and tourism. Factors such as increased crime, economic downturns, and companies moving out have significantly impacted the hotel's performance. Moody's downgraded the bonds tied to these properties, citing "continued weak fundamentals" in the downtown hotel market. The broader implications include potential financial strain on regional banks holding these mortgages and the ongoing challenge of revitalizing San Francisco’s downtown amid persistent safety and economic issues. This situation underscores the consequences of the city's progressive policies and economic mismanagement.
#SanFranciscoCrisis #HotelMarketCrash #EconomicImpact
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𝗧𝗜𝗠𝗘𝗦𝗧𝗔𝗠𝗣𝗦
00:00 $1 billion drop
02:17 Tenderloin tough location
04:17 Hotel bond downgrades
06:18 Investor exiting market
08:21 Crime affects tourism
10:22 Business dynamics change
12:37 Policy-driven decline
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@ReasonableNews 22 күн бұрын

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@thinkingimpaired5663 21 күн бұрын

Thank Gavin Newsom and Pelosi for all the losses

@starguy2718 21 күн бұрын

Don't forget Mayor London Broil.

@JeffC-fq1be 20 күн бұрын

Wrong. Thank the VOTERS!

@thinkingimpaired5663 20 күн бұрын

@@JeffC-fq1be Dominion?

@thinkingimpaired5663 20 күн бұрын

@@starguy2718 that's a very creative name, London is not rare, or medium just overdone. I watched her debate with other candidates yesterday and she wouldn't answer the questions presented.

@elancaster3989 20 күн бұрын

Democrats are traitors to the taxpayers and the country. This is undeniable proof

@user-qz2gl5bn6r 21 күн бұрын

Almost as if the State of California and the City of San Francisco illegally took the value away from the business owners by allowing crime and deviancy to run rampant.

@mmercier0921 21 күн бұрын

they can fill the empty space with their new voters.

@Rusty_Shackleford099 20 күн бұрын

It's been going on for decades. I have a hard time feeling sorry for anyone who chose to invest in the state in the last several years but then lost large sums of money. If they couldn't tell back then that it was a huge risk, there is a high chance they would have lost their money on some other unwise investment.

@timstultz4387 20 күн бұрын

@@Rusty_Shackleford099 The downfall is amazing to see. I couldn’t have ever imagined SF could become undesirable to the point no one wants it. Real life disasters how to destroy any city in less than 5 years

@Fantom822-i4i 20 күн бұрын

Watch Soros and his cronies swoop in after these values go down just like he did with the British pound he’s a hedge fund guy, destroying cities and states and countries

@marengoczar5035 20 күн бұрын

I think the high cost living isn't helping and it's an island.

@TravelwithRichardandJudy 20 күн бұрын

My wife and I stayed at that very same Hilton Hotel at the San Francisco tenderloin near Chinatown 20 years ago for a professional meeting. There were a bunch of leftists there protesting something and one of them assaulted me with a bullhorn putting it up to my ear and screaming as soon as I got out of the taxi cab. I had permanent hearing loss because of it. Never again willl I set foot in that vile disgusting city.

@lifeinpodunkville543 20 күн бұрын

Please tell me you made her eat that bullhorn.

@LyndonLaRoucheArchive 19 күн бұрын

Chinatown and the Tenderloin are quite a long distance from each other. The Tenderloin neighborhood itself only makes up a few square blocks. I wish this doofus would quit using that term. The hotel is near Union Square.

@Scotty2hotty-xc6gi 18 күн бұрын

It’s OK nobody cares

@Scotty2hotty-xc6gi 18 күн бұрын

It’s OK nobody cares. Go to Dallas or Miami next time.

@williamadams5384 9 күн бұрын

Leftists? Really? Did you ask them? Protesting something? WHAT? YOU DON'T KNOW? They could have been far right people as far as you know protesting the homelessness or Newsom. So you blame a WHOLE CITY for one individual with a bullhorn. I think you are trolling because you just hate San Francisco.

@1236612 21 күн бұрын

Why can't the San Francisco voters bring themselves to vote these liberal progressive politicians out?

@user-xh2yg4uv9q 21 күн бұрын

They have enough brain washed vote blue no matter who people as well as large numbers living on welfare whose continued existence depends on government handouts. That creates a huge (if ignorant) voting block.

@johnlance-bu6jj 20 күн бұрын

Because the liberal progressive voters are now in majority . They are guarding the hen house . Wheee , that was easy to answer .

@secretagentcat 20 күн бұрын

nobody wants ur nasty rightoids either, remember people, its all a game!

@gangar99 20 күн бұрын

Because they still like it. How come leftists keep power in poor countries? Same tactics also work in US of A too. They'll still vote for far left even if they get ripped off and replaced.

@RobertLutece909 20 күн бұрын

Because the press can always feed them a scapegoat. Did you see the mayor of Chicago blamed... Richard Nixon for a bunch of shootings in his city over the weekend? Progressive voters are like children.

@cajunstrat 20 күн бұрын

I’m shocked that a 💯 democrat run city and state is in decline.

@sharenebyrne4093 19 күн бұрын

😂😂😂lol 😂

@Bob-mn7ob 18 күн бұрын

Yeah. I’m as surprised as you.

@Jimjam482 18 күн бұрын

Who would’ve thought 😂

@niepieisme9830 13 күн бұрын

Then your the only one.

@Bob-mn7ob 13 күн бұрын

It’s called sarcasm

@artholyoke 21 күн бұрын

San Francisco used to be my favorite city to visit. You can’t pay me to go there now. Really sad how they ruined it

@JB-yb4wn 20 күн бұрын

Would you do it for a Klondike bar?

@oscarmadison8530 21 күн бұрын

The San Fran hotel market plummets by $1B? How could that be? Who wouldn't want to visit there and see urban outdoorsmen relieving themselves on the city streets, or fentanyl users in an open air drug market? Not to mention the bipping which takes place as well as constant shoplifting. It's a mystery to me why the hotel occupancy rate has nosedived.

@user-so2ni3lq1x 21 күн бұрын

Sounds like a great adventure in a demorat city.

@RobertLutece909 20 күн бұрын

IMO there's a huge wave of CRE bankruptcies in the cards. Landlords can't lower the rent because to do so puts their collateral underwater, but they can't find tenants at the current rates.

@gfp46 20 күн бұрын

@@RobertLutece909bad and sad

@Theweouthereforrealclub- 19 күн бұрын

@@RobertLutece909Hence the propaganda nonstop screaming about work from home. It would destroy banks

@Music-lx1tf 20 күн бұрын

Can't think of a more deserving city.

@user-ts7ns7bt2v 19 күн бұрын

No there’s many in a tie

@actaeon299 20 күн бұрын

Politicians start to buy real estate. Fonally fix crime. Their real estate values skyrocket. Plot to Backdraft.

@kareemr9203 20 күн бұрын

Turn it into a migrant hotel to save it. That's what the Roosevelt did

@johnlance-bu6jj 20 күн бұрын

Better yet turn it into a crack house .

@davidmcguerty8405 19 күн бұрын

And who pays the rent?

@dwightlooi 20 күн бұрын

Get WOKE, go BROKE.

@user-vh5kf4ll1r 21 күн бұрын

Ok. Stop paying taxes

@gmr7494 20 күн бұрын

I blame it on the same politicians who would support Minor Attracted Persons

@NoidoDev 20 күн бұрын

People thinking like you is part of the problem.

@gfp46 20 күн бұрын

What’s “minor attracted person?”

@jasperrabbit8132 20 күн бұрын

Have you seen what has happened to the restaurant business? San Fran used to be a top spot in the country for enjoying an eclectic variety of high quality restaurant experiences. All that is now gone!!

@lifeinpodunkville543 20 күн бұрын

I bet there's no lack of Panera Bread.

@gfp46 20 күн бұрын

Sad to hear. I loved their sourdough bread so much when I visited in the 80’s

@DaveEPie 19 күн бұрын

Haha I love to see this- anyone that did not see this happening around 2010 must be a liberal- The far left has ideas that don’t work- yet California votes left year after year. I remember the city in the 90’s- very alive and still safe all night -great food as you said- an experience for a mid 20’s young man- thinking San Francisco was a world class city. Now it’s the laughing stock when you go overseas. Even the Chinese have much much better places to travel to.

@briandonovan1584 20 күн бұрын

When I was in Paris, France in 1978 I found the people there to be extremely rude and arrogant ... They are infamous for their rudeness to foreigners ... When we said we were from SF their eyes got big and the proclaimed it a magnificent city and one of the most beautiful cities in the world. Chew on that for a few minutes.

@chrisstott3508 20 күн бұрын

"It won't be this way forever." As refutation, I offer you Detroit.

@ScubaPhil1 20 күн бұрын

A Billion here and a Billion there, soon it adds up to real money!

@WalkiTalki 21 күн бұрын

This is clearly the plan. Since Seattle does everything that SanFran does and vice versa you know that many of the Hilton properties were converted to "homeless" shelters here and in California. Many of the properties were nearly destroyed so besides the public danger many of the rooms were no longer habitable. Now Harrell is working on claiming empty buildings in Seattle and then paying DESC to manage them as low income housing as they did with the jails. I bet there is a similar plan to do this in California. Reducing the value of the property to one tenth of what it used to be is the best way to get a deal in one of the highest valued markets in the country. I bet we see alot of this land grab politics increase in both states as the criminals are voted out of Washington next year.

@hossleoea6218 21 күн бұрын

Complete destruction of there city. The entire west coast is falling apart. Sad

@rhondayork-xl5gv 20 күн бұрын

On the bright side, the government can make arrangements with Hilton to house their "newcomers"...theyll get paid to fill up the rooms & it'll be a win-win!! 😊

@karlpetzing525 20 күн бұрын

@@hossleoea6218NYC as well

@gfp46 20 күн бұрын

@@rhondayork-xl5gvonly problem is who is paying for illegals to live in these once beautiful hotels???

@rhondayork-xl5gv 20 күн бұрын

@@gfp46 well, we all know whose paying, but then again people vote to "pay" higher taxes when they vote blue. Policies that take from hard working constituents to give freebies to potential constituents is the Demtards way. Teachable moments for all

@BidensTaint 21 күн бұрын

Get woke go broke 😂

@user-ts4fo9ol9x 21 күн бұрын

San Fran's tourism is in the tank. Don't worry though. There are still deeper tanks, and San Fran will get there. Years ago I dreamed of living there, now I'm afraid of the place.

@jackhydrazine1376 20 күн бұрын

"One BILLION dollars!" "Why make billions when we can make...millions?" -Dr. Evil

@JamesPetrycia-zj7yq 20 күн бұрын

San Francisco will use those hotels for homeless hangout with city providing drugs for money.

@mmercier0921 21 күн бұрын

atlas has shrugged.

@purplesprigs 20 күн бұрын

Oh well...Who is John Galt?

@lifeinpodunkville543 20 күн бұрын

I am John Galt

@starguy2718 20 күн бұрын

"Mr. Thompson will not be speaking to you tonight. His time is up. I will be speaking to you, instead."

@Theweouthereforrealclub- 19 күн бұрын

@@starguy2718That speech is so good

@Bob-mn7ob 18 күн бұрын

A bit different. California government just doesn’t care.

@shelleyclay1732 20 күн бұрын

DOES BIDEN KNOW ABOUT THIS?? He said America is doing great , yeah I don't think so.

@not-fishing4730 20 күн бұрын

Heck, that's nothing. The little burg of Sacramento has an assed value of 230 Billion. When SF property drops by half a trillion dollars that would really be something.

@joesimons7387 21 күн бұрын

The investment companies should have seen this coming with the invention of the internet and fiber optic connections. In 2000 I worked for a Telco company and could do much of my work at home manipulating equipment remotely through our company intranet and secure ID. This trend will grow not shrink over the coming years, Downtown areas will become ghost towns.

@nikkoalpha2 20 күн бұрын

Excellent observation sir. Add the impact of AI to the demise of cities.

@kimwiser445 21 күн бұрын

That was such a good idea to keep the lockdowns going for sooo long. Not!! Welcome to one of the consequences of stupid policies.

@nikkoalpha2 20 күн бұрын

Excellent comment. Politicians used scientific lies to destroy small businesses.

@OzziesRobots 20 күн бұрын

If you’re going to san francisco , be sure to wear , some flowers in your hair - (to mask the smell)

@coffinman5007 20 күн бұрын

San fran is not a holiday location 😂😂😂

@reyinfante5553 20 күн бұрын

Waiting for Westin St. Francis to do the same, then Ritz-Carlton, then it would be the end.

@stevenroth5424 20 күн бұрын

It will happen

@michaelbockert8280 20 күн бұрын

Travel to San Francisco where you can get a phone app to see where homeless take a dump on public streets or watch local stores get robbed daily because we don't care unless they steal 1000 worth at a time. I sure want to pay for a hotel to visit that city.

@gfp46 20 күн бұрын

I will never go there, or any big city again. Thank you, but I’ll stay in the smaller towns!

@kemhopkins3421 20 күн бұрын

And when Newsom runs for President.. They'll vote for him.

@samlbrown6665 21 күн бұрын

Question; As family oriented, self disciplined, and education minded as they are, how are the residents and the China town neighborhood holding up ???

@johnlance-bu6jj 20 күн бұрын

I am sure that China Town is holding up quiet well . The Chinese know a secret . Diversity is not strength . Inclusion is not strength . Woke is not strength . Wheeee , that was another easy answer .

@garycallihan4206 20 күн бұрын

Such a robust, vibrant, and positive tourist environment.

@gfp46 20 күн бұрын

Was a robust, vibrant, and positive tourist environment 😢

@MrEdwardEscobar 21 күн бұрын

SF Mayor London Breed, BOS President Peskin & DA Brooke Jenkins GOTTA GO!

@georgeawestjr.9087 20 күн бұрын

Correction: Mayor London Broil. LOL. 😁🤣🤪😂😆😄😜😃😝🫢😛👌

@user-pi4fq1bv8n 20 күн бұрын

That is a sign of a great economy. Add a few bugs, priceless.

@magnusdahlgren3715 20 күн бұрын

If there is no police to take reports, of course crime is “down”.

@gfp46 20 күн бұрын

I visited in the early 80’s and was not disappointed! Very sad to hear this

@TimezUp23 20 күн бұрын

lol your voice and sarcasm work perfectly together.

@robertb.seddon1687 19 күн бұрын

At least I experienced the city of San Francisco at its prime. Great, DIAMOND city once...now the world has turned.😢

@kevinbyrne4538 20 күн бұрын

10:02 -- If a state legalizes crimes and if the police don't respond to complaints and if the police don't arrest people for crimes and if charges are downgraded and if the local DA doesn't prosecute people for crimes -- then crime decreases.

@reasonablespeculation3893 20 күн бұрын

The need for office space, on average Nation wide, is going to continue to drop regardless of Social/Criminal issues. It's inefficient on every level(Time -energy - wear and tear - quality of life) to commute, when the same work can be accomplished from a home desk top.

@NoidoDev 20 күн бұрын

In a way it means that investors in the future should be much more interested in local culture and policies. Let's not forget someone voted for these district attorneys, and also someone funded their campaign. And someone raised and educated the people voting for that.

@ktloz2246 19 күн бұрын

Only one solution, vote in people that are strong on restoring law and order and common sense. Electing low level thinkers like blm associates is not working.

@zcvxs 21 күн бұрын

Huge Conventions dont happen in san fran ????

@finchman1 2 күн бұрын

They used to. But even the convention business is still down 50 percent since the pandemic.

@zeorhymer6 19 күн бұрын

I was in downtown on 7/5 and holy cow was it empty. Sure there were people, but not the crazy sea of people prior

@raulcotresus 20 күн бұрын

Wondering if what is going on in San Francisco and New York is by design, so that well connected people can make huge profit from undervalued real estate.

@Liz-in8lu 20 күн бұрын

Park is closing their doors on Oakland airport Hilton as well

@firestick4991 20 күн бұрын

Oooo. Time to scoop up all the deals, clean up the city and start gaining the value again. I wonder how much the Steven’s family lost or gained in this? They already owned half the commercial real estate in SF before all this.

@Whatt787 19 күн бұрын

Way to go Newsom!

@raloufen4292 20 күн бұрын

Theres someone here says their sister lives there and non of this is happening

@TheBadCivilServant 20 күн бұрын

Sean is absolutely correct when he says this can't go on forever. San Francisco WILL come back. As discouraging as things look right now, there is nothing that can't be fixed by a good ten-point-oh.

@JohnDoe-lo1uf 20 күн бұрын

How will it come back? Are the voters going to change for the better? Will the leadership change? Will the trust come back from businesses? Will the financial situation stop spiraling. It's over. Welcome to being Cleveland/ Detroit 2.0. Took us half a century just to start rebounding.

@gfp46 20 күн бұрын

@@JohnDoe-lo1ufabsolutely correct!

@mikewu9483 20 күн бұрын

worth negative $1B fair price

@JeepCherokeeful 20 күн бұрын

Makes you wonder what California is actually worth overall?

@vociferon-heraldofthewinte7763 19 күн бұрын

It’s almost like stupid laws have consequences. Who knew?

@NashvillePastaman 20 күн бұрын

I am guessing that number is low- take the entire value of the Sf market- and reduce it by 75% and thats probably close to the actual losses !!

@DaveEPie 19 күн бұрын

Exactly No one is going to buy it for any amount as long as the far left controls California-

@cheaserceaser 19 күн бұрын

Just raise taxes to boost property values. When property tax rises, the value of property rises, since they are directly linked.

@EFletc8985 20 күн бұрын

At this point, just put a wall around SF and make into the prison and have John Carpenter do a movie about it….they can even throw in Biden for fidelity to the story 😂👍

@neveser 20 күн бұрын

Someone is going to get some good deals in real estate down the road...

@deemushroomguy 20 күн бұрын

Hmmmm... Seems like an "interfering with commerce" type of lawsuit on the city. That's a federal offense.

@deemushroomguy 20 күн бұрын

Perhaps a class-action lawsuit?...

@raloufen4292 20 күн бұрын

What are they doing with the property

@springsogourne 20 күн бұрын

Kathy Hilton was staying at the Fairmont when we were there, thought that was interesting

@bertiesworld 20 күн бұрын

Think of a number, double it, quadruple it and hey, that's how much its worth. Fantasy economics seems to be rampant in the States, much like it is in the UK.

@torturedsoul8066 8 күн бұрын

They should sue the government for their loss.

@Hispandinavian 20 күн бұрын

How bad is the Emeryville area by the Amtrak there?

@rudyrodriguez7301 19 күн бұрын

Watch me play my small violin for the poop capital of the US lol 😂

@1922BluePhoenix 20 күн бұрын

Go woke GO broke

@chrisdelfyett2644 20 күн бұрын

You San Francisco voters SCREWED Yourselves...BIG TIME!!!!

@michaelpiwcewicz1412 20 күн бұрын

WHYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYYY

@louisbrill891 20 күн бұрын

Wonder what happens to the loans based on the value of this complex lol. SF is screwed.

@DaveEPie 19 күн бұрын

Some banks will go down just like March 2023- they are waiting until trump gets in to blame him- I say March 2025 the banks holding the paper on these buildings will start failing and wanting government bail out. Gold smells a rat in the system at 2400 Gold is sending a message- something is about to break- And it’s all the commercial paper that’s worth Far Far less than the banks have it valued at Paper scam- Gold to 2600-2800 before the election

@harryhoudini3537 20 күн бұрын

Why don't they ask Chesa Boudin for help with restoring property values? 😂😂😂

@l.ls.8890 10 күн бұрын

So what does that do to the tax assessment on that building. Does Hilton pay a deppreciated rate?

@buddykerr1 20 күн бұрын

Just mix in a couple Treasuries with all those Baa1 bonds and call it a AAA security. Time to make history rhyme again.

@DaveEPie 19 күн бұрын

They are working on that right now 😁

@drewstead316 17 күн бұрын

Looking like California's gdp isnt 3.9Trillion anymore

@tdinphx 20 күн бұрын

A trillion billion dollars, or a billion trillion dollars...It doesn't matter. All that matters is feeding their delusional lust at all cost.

@nosretep1960 20 күн бұрын

It's no big deal. Just borrow more imagination from the streets. Han Solo could imagine a lot too! 🤪🤯

@AlanToon-fy4hg 20 күн бұрын

The voters there are reaping what they sowed.

@MrGchiasson 18 күн бұрын

I give it no more than 16 months...then California declares bankruptcy.

@speicherkanal4894 19 күн бұрын

GOOD LUCK WITH THAT!

@dhlong1697 20 күн бұрын

Hilton's not in the 'Loin. Did A/V there back in my salad days.

@darincolorado2994 20 күн бұрын

The SF Hilton complex is NOT in the tenderloin.

@rsnc23 18 күн бұрын

It's one block away and the crazies wander for 5-6 blocks North from The Tenderloin.

@damnu8089 20 күн бұрын

good ,

@sharenebyrne4093 19 күн бұрын

Thank Newsome

@crabbypaddy5549 19 күн бұрын

Ai companies do not need those buildings as the developers all work from home.

@Willsilverun32 20 күн бұрын

Zombieville

@RyanJohnson-pz4tb 20 күн бұрын

why don't you fill it up with migrants like every other hotel

@gorfulator 20 күн бұрын

What if China buys all SF hotels !!!???

@terryllee7706 20 күн бұрын

Bro sell your house, strike a deal with Hilton ? Retirement

@mickeyhead9770 18 күн бұрын

Good

@ThatGuy-qk6ti 18 күн бұрын

Please don't call San Francisco "San Fran" It says immediatly you have no real connection to the city. Thanks

@finchman1 2 күн бұрын

Correct. Sean is located in the Seattle area.

@oldcat87 17 күн бұрын

Welcome to Miami

@CygnusTX 21 күн бұрын

"Dial in." LOL! You're old! Don't feel too bad, me too because I know exactly to what you're referring. LOL!

@jeffshackelford5662 20 күн бұрын

You can get the statistics to say anything you want, just have to be a little bit creative.

@Aitch-102 20 күн бұрын

Did Paris drop her cocaine?

@w3s77 20 күн бұрын

Newsome 2028!. Bring California to the rest of the US.

@Frank-mc2ge 19 күн бұрын

A once beautiful city is now a wasteland because of politics.

@williamadams5384 9 күн бұрын

Again, this is silliness. Trump's properties lost real estate value in his first 4 years in office. MARKET VALUE. In 4 short years afterwards they're worth more than ever now. A few he sold because they were failing. Same will happen with these properties in San Francisco. After the commercial real estate market recovers those prices will skyrocket. I guess Sean hasn't ever read about cyclicals. This is a very good thing and a part of the Capitalist system.

@zcvxs 21 күн бұрын

Turn the hotel into a residential apartments?

@user-xh2yg4uv9q 20 күн бұрын

That would be massively expensive. You'd have to ripe everything out and replumb and rewire everything to include kitchens, etc ..

@DaveEPie 19 күн бұрын

@@user-xh2yg4uv9qby the time all of the upgrades needed were finished You would have a 1,000,000 hotel room with a kitchen sink and an electric cooktop. Seems about right for the liberal California voters. 😁

@Bob-mn7ob 18 күн бұрын

It’s going exactly to plan. Corporations are almost always left so converting rooms to new homes to help cover reparations by rich White privileged people is spot on and should make everyone happy.

@lightclawshadowmarsch8167 20 күн бұрын

When the big one hits the state dont expect me to help them remember charity donation are a choice an i choose not to fund democrat socialist states 😉