Major hotel chain abandons San Francisco
Park Hotels & Resorts is pulling out of two hotels, saying it lacks confidence in the city's ability to overcome "major challenges"
San Francisco hasn't fully recovered since COVID-19 shut down the economy in 2020, with many office buildings still largely empty as workers continue to work remotely. A rash of thefts last year and rising homelessness have caused some retailers to pull out of the city.
Key takeaways
- Prior to the pandemic, San Francisco was a magnet for business travel. But since the crisis, event bookings have slowed and foot traffic has receded;
- Some businesses are still turning to the city for events, but other firms have cancelled events, deterred in part by street conditions like graffiti and homelessness;
- Whole Foods in April temporarily closed one of its flagship stores just a year after it opened, citing concerns that crime in the area was endangering its staff.
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