Delinquency rate among commercial mortgage-backed security loans for the lodging sector in the San Francisco metropolitan area in June. That’s up from just 5.7 percent in June 2023, the largest increase across the country's 25 largest metro areas. It reflects a sharp drop-off in visitors to the region that has continued since before the pandemic. In June, weekend hotel occupancy (a rough proxy for leisure travel) was down around 22 percent since 2019 in the San Francisco-San Mateo region, compared with 4 percent nationwide.
