park hotels  resorts said it has ceased making payments toward a 725 million commercial mortgage loan that is secured by two of its hotels in san francisco we believe it is in the best interest for parks stockholders to materially reduce our current exposure to the san francisco market chief executive tom baltimore said now more than ever we believe san franciscos path to recovery remains clouded and elongated by major challenges  both old and new record high office vacancy concerns over street conditions lower return to office than peer cities and a weaker than expected citywide convention calendar through 2027 that will negatively impact business and leisure demand and will likely significantly reduce compression in the city for the foreseeable future he said the realestate investment trust said the commercial mortgagebacked securities or cmbs loan was scheduled to mature in november 2023 it is secured by the reits 1921room hilton san francisco union square and the 1024room parc 55 san francisco properties park hotels said removing the loan and the hotels will improve its balance sheet and operating metrics write to will feuer at willfeuerwsjcom