The owner of two of San Francisco's largest hotels has stopped making mortgage payments on the properties and will let them go into foreclosure as historic rates continue to deter tourists.Park Hotels and Resorts announced on Monday that it stopped making payments on its $725 million loan due in November for the Hilton San Francisco Union Square and Parc 55 — the largest and fourth-largest hotels in the city, respectively.'After much thought and consideration, we believe it is in the best interest for Park's stockholders to materially reduce our current exposure to the San Francisco market,' CEO Thomas Baltimore Jr said in a .
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