A fourth event, whose organizer wasn't identified, also canceled an October event that had more than 5,400 hotel rooms under contract. The latest cancellations come on top of announcements last year from tech giants Meta, VMware and Red Hat pulling the plug on much larger events that had been scheduled to take place this year at Moscone.

According to internal hotel records obtained by the Business Times, as of this month Moscone Center events have 409,500 hotel room nights under contract for 2024, nearly a 40% drop from last year's total of 664,000 and less than half of the pre-pandemic total of 967K.

Events scheduled for 2025 through 2030 currently are 10% to 31% behind pandemic-adjusted room night targets, according to SF Travel, the non-profit tourism bureau that handles Moscone group event bookings, the report said.

In June, the owner of two of the largest hotels in San Francisco cited deteriorating conditions in the city's downtown as well as the shrinking convention calendar through 2027 as reasons for its decision to stop making debt payments on the properties.

Park Hotels & Resorts stopped making payments on a $725M CMBS loan backed by the 1,921-room Hilton San Francisco Union Square-the city's largest hotel, also the largest Hilton on the West Coast-and its neighbor, Parc 55, which with 1,024 rooms is the fourth-largest lodging in the city.

In a statement announcing the decision, Park CEO Thomas Baltimore said that the company determined that the prospects for a recovery in San Francisco do not look bright.

"Now more than ever, we believe San Francisco's path to recovery remains clouded and elongated by major challenges: 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," Baltimore said.