GM August letter

Aug 9, 2026

 

The hills and sounds of San Francisco.

“The hills are alive with the sound of music

With songs they have sung for a thousand years

The hills fill my heart

With the sound of music

My heart wants to sing every song it hears.”

New visitors to the City, complain about the steep hills and the city noise.

Yes, San Francisco is one of the hilliest cities in the world.

San Francisco was a small town of 1,000 residents, but in 1849, during the Gold Rush, the 49ers brought in an additional 25,000 gold seekers. The City was on its way to becoming a world-class city. Undaunted by the hills of Nob Hill, Russian Hill and Telegraph Hill, Andrew Halliday in 1873 designed the first cable car to run on Clay Street after witnessing the abuse of horses drawing carriages up the steep hills.

San Franciscans are extremely proud of their hills. The columnist, Herb Caen, famously declared, “Take anything from us, our cable cars, our bridge, even our bay – but leave us our hills.”

A city built on 48 hills with only 7 hills named, San Francisco Suites is proud to be perched on the first named hill, Nob Hill.

“I go to the hills

When my heart is lonely

I know I will hear

What I’ve heard before

My heart will be blessed

With the sound of music

And I’ll sing one more”

Then there are the city sounds. Yes, there is the rambling of the rails of the cable car and clanging of bells, the bird song of crows, ravens, seagulls and the croaking Russian Hill parrots, and during the summer, the ominous groaning of the foghorn out on the Bay and the Grace Cathedral bells ringing out over Huntington Park and Nob Hill.

San Francisco is alive with the sound of music, with heart-stopping inclines and exhilarating vistas. So, embrace the city sounds and hills. Take a cable car or, better yet, hike the SF Cross Town Trail, which is a 17-mile trek starting from Candlestick Park and ending at Lands’ End.

Our owners, Martha and Peter Jones, completed the hike a few weeks ago. It took 7 hours and, on their return, they took refuge by the lobby fireplace, enjoying a glass of wine and sharing their experience with guests in the lobby.

The Embarcadero (its flat) is also a wonderful place to walk, starting at the Ferry Building, walking along the waterfront with a view of the lights on the Bay Bridge.

The Ferry Building is enjoying a renaissance with a fascinating new array of restaurants, shops and bakeries:

  • Arquet has re-opened in the Slanted Door space

Californian cuisine from the Michelin star owners of Sorrel

  • Nopa Bar is famous for take-out fish and chips
  • Hog Island Oyster Bar
  • Senor Sisig takeout breakfast and Mexican burritos
  • Parachute Bakery voted best croissant in SF
  • Farmers Market outside the Ferry Building

Saturdays from 8 am – 2 pm

Ferry Building is great for shopping. Pick up bread from Acme Bread, or an ice cream cone from Slocombe Creamery or browse through the shelves at Books, Inc.

A new favorite French bistro, Bon Delire, with a waterfront view, classic French films shown on the walls while a DJ spins French jazz. Steak frites is a must!

  • Bon Délire Pier 3

Open for breakfast, lunch, and dinner with a lively bar scene

Last month I attended a Women in Leadership Luncheon hosted by the Hotel Council at the St Francis Hotel. It was extremely inspirational to see such a large number of women hotel general managers. When I started at the Huntington, 30 years ago, I was one of the first female concierge in the world. When the American section joined the European concierge association, Les Clefs d’Or, they were forced to accept women in the profession. At that time, in San Francisco, there was not a single woman general manager. Years later, I was hired by the San Francisco Suites as General Manager, and now in SF it is not uncommon to see a woman in a hotel leadership role.

SFS news alert:

  • New sofa beds are arriving at the end of August
  • All Masters and Parlors all have new bed

Shout out and thank you to the Olsons!

They invited friends to join them at the Suites to go to the Giants game, and now their friends are new owners of a parlor!

Please let me know if you have a friend who may be interested in becoming an owner, and I will offer them a complimentary stay.

The next board meeting is Saturday, August 15

The San Francisco hills are full of the sounds of the City.

My heart wants to sing every song it hears.

Happy Summer!

Warmest wishes,

Cynthia Reid

General Manager

San Francisco Suites

 

open Board Meeting May 30, 2026

May 30, 2026

San Francisco Suites

Open Meeting of the Board of Directors May 30, 2026

 

The meeting was called to order by President Geoffrey Bellah at 11:05 am. The Board Directors present were:

Geoffrey Bellah, President Nancy Hudson, Vice President Dwight Walker, Treasurer (Zoom) Jo Ann Trembath, Secretary

Fred Munroe, Director at Large (Zoom)

Others Present: Cynthia Reid, General Manager

Max and Sue Josselyn, Owners

President Geoffrey Bellah called the Open Meeting to order at 11:05 am. Roll call was conducted and a quorum was established.

Owners Forum: Owner Sue Josselyn commented that the plants on the roof looked attractive.

President’s Report: President Geoffrey Bellah gave the following report:

I would like to offer an explanation to the Association of our recent approval, in a

special meeting, of a contract to hire a real estate attorney. As you know, each member of this Association owns a share of real property here in San Francisco at the Suites, and it is not uncommon for us to receive requests from owners or from their trustees or heirs to give back to the Association their share or shares of ownership rather than their trying to sell the same shares on the open market. We appreciate these gifts, especially when we can then sell the same shares, extending ownership to new people and financially benefiting the Association.

One need for a real estate attorney derives from the fact that too often these generous gifts are not, in a legal sense, within the givers’ rights to give, due to flaws or irregularities in the titles to this property which every owner receives upon its legitimate purchase. Sometimes there is a forgotten or unknown or unreleased lien on the share. Sometimes the share was never moved into the owner’s trust or estate. Sometimes the share has multiple owners, all of whom must agree to the deed back, but who may not be available to do so, due to one or more of the dreaded three “Ds”: default, divorce, or death. Each situation seems very personal and seemingly intractable at the time.

Hence, our need for a skilled real estate attorney familiar with the unique system here at the Suites to help this grateful Association and the generous donors to it. Other complex legal issues involving ownership or corporation are also coming up more frequently that we cannot handle without consulting a real estate attorney precisely because our Association members are owners of this real property, not just members of a club or guests in a resort.

So, my report is an appeal to all members of this Association to make certain that your official tokens of ownership at San Francisco Suites are locatable, up to date, and in legal order. Doing so will prevent any legal complications from interfering with your full enjoyment of the Suites, or your ability to sell or gift your property when you are no longer able to use it.

Thank you.

Approval of the Minutes of March 7, 2026, Board Meeting: Dwight Walker moved and Jo Ann Trembath seconded the motion to approve the minutes of the Annual Meeting of the Board of Directors on March 7, 2026. The motion passed unanimously.

Treasurer’s Report: Dwight Walker gave the following report:

Introduction

This report provides a summary of the Suites’ financial activity for the year to

date, covering the period from January 1 through April 30. The report outlines income, expenses, and the current financial position to inform the Board and owners.

Income

Total Operating Income for the year to date includes all sources of revenue. As of April 30,

total income stands at $514,555. The breakdown is as follows:

  • Membership Dues: $423,776
  • Bonus Time: $12,073
  • Sale of Shares: $10,344
  • Rental Income: $50,821
  • Interest Income: $2,305

Income was $1Sk over budget through April largely due to rental income.

Expenses

Total Operating Expenses for the period are $519,435, distributed as follows:

  • Administration: $81,270
  • Payroll-related: $325,556
  • Repairs & Maintenance: $31,993
  • Supplies & Services: $25,679
  • Utilities: $29,536
  • Bad Debts: $24,000

Expenses were $19,612 over budget through April with the largest variances being for Airbnb Fees of $7,528 that had not been separately budgeted. Upholstery Cleaning, Furniture Repair and Review/Tax Prep are over budget in total by $12,237 as a result of annual expenditures made in the period but budgeted across the entire year. Negative variances to budget for expenses were offset by lower-than-expected payroll expenses. Net Operating Income
The net operating income (loss) as of April 30 is ($4,881). Operating cash at the end of April was $783k which provides 191 days of operating funds vs. 245 days needed. That shortfall is the result of $131kin annual assessments not collected as of April 30. It will take continued diligence by Manager Reid to collect the remaining assessments, sell shares, and generate Airbnb revenue with room nights from nonperforming shares.

Cash Flow and Reserves

As of April 30, the organization maintains a replacement reserve cash balance of $846k. The projected reserve cash balance represents 50% of the “Fully Funded” balance reported in October 6, 2025, external reserve study.

So far in 2026 $67k has been spent on various reserve projects and another $26k is committed by the Board to complete the sofa bed replacement project.

Summary

The Suites remains in stable financial condition as of April. Continued attention to income generation and prudent spending will ensure sustainability through the end of the year.

General Manager’s Report: Cynthia Reid reported:

Financials

  • Wells Fargo $157,195.45
  • Fidelity Reserve $917,229.49
  • Fidelity Ops $559,495.94

SFS Inventory (61)

  • 61 non- performing shares
  • 8 deed backs in progress (assessments paid)
  • Sold 5 masters= $17,500 (assessment included)
  • Adopted 2 parlors
  • Adopted 5 masters

Total Revenue for January -May 2026 is $71,152.12

  • Sale of shares $17,500

·Jan-May Airbnb $53,65212

  • Total =$71,152.12

2026 assessments (758 assessments out of 816 have been paid)

  • 16 owners have not paid the assessment= $31,640.30

· SFS 52 non- performing shares owed = $92,352

  • 12 Delinquent shares will be placed in foreclosure in June Maintenance

Ongoing Business: General Manager Reid:

    • Updated the Board on the sofa bed project. August is the estimated time that the new sofa beds will be delivered.

    • Architect Kevin Hackett and Contractor Steve Barton are drawing up plans for the permanent Powell Street lobby entrance ramp and will present those plans to the Board at the September meeting.New Business: General Manager Reid:

Steve Barton and his crew completed the hallway floor panel and suite door trim repair and repainting project. Also, the outside siding and the Powell Street entrance were repainted along with the power washing of the two awnings.

24 chairs in need of repair or to be recovered are with Russian Hill Upholstery, and the work should be completed by the August Board meeting.

Forward Planning: Manager Reid:

The seven parlor suite mattresses and box springs will be replaced in July.

The hallway and staircase carpeting will be replaced in 2027.

Jo Ann Trembath moved that the meeting be adjourned and Nancy Hudson seconded the motion, which passed unanimously. The meeting adjourned at 12 noon.

Respectfully Submitted,

Jo Ann Trembath Secretary

The next Open Session Board meeting is September 19, 2026.

May 2026 GM Letter

May 16, 2026

 The bloom is on the City

City trees bursting with cherry blossoms, Union Square filled with tulips, orange poppies blanket Mt Tamalpais, while the wild, green parrots of Russian Hill fly overhead.

It’s springtime in the City!

March 21 was Tulip Day in Union Square hosted by JPMorgan in honor of International Women’s Day. 80,000 colorful tulips were handed out during the day for free.

Hotels, restaurants, storefronts and cable cars were all decked out with blossom displays in a competition to win the Bloomie Award. St Francis Hotel won the award with The Bloom Suite that was filled with an immersive flower forest.

Major Lurie has plans to allow the sidewalk flower vendors back so that you can once again buy a gardenia or a bouquet on the street corner after shopping at Gump’s.

Every 4th Friday at 5:30 pm a Salsa Party is held in the Square, including live music and dance lessons:

May 23, June 27, July 25, August 22

Union Square Restaurants:

Chotto Matte 50 O’Farrell St

  • Japanese and Peruvian cuisine

  • roof top restaurant and bar

Bourbon Steak and Bar 335 Powell St

  • St Francis Hotel

Post Room 450 Powell St

  • Beacon Grand Hotel

John’s Grill 63 Ellis

  • Iconic steakhouse & seafood since 1908 with nightly jazz

  • Statue of Maltese Falcon (Dashiel Hammett)

If you missed tripping thru the tulips in Union Square, you could always pick up a picnic and head out to Queen Wilhelmina’s Tulip Garden and Dutch Windmill in Golden Gate Park, near Ocean Beach. In 1902, Queen Wilhelma of the Netherlands donated the tulip garden and windmill to the City.

  • Queen Wilhelmina’s Tulip Garden and Dutch Windmill

1690 John K Kennedy Drive, Golden Gate Park

April 11-19 Northern California Cherry Blossom Festival and Parade was held in Japantown

Restaurants in the area:

  • Tenroku Sushi Japan Center

  • Benihana Japan Center

  • Copra elegant Indian cuisine 1700 Fillmore

Sunday, May 17th, the 114th World famous 7.46-mile footrace and massive street party,

Bay to Bay Breakers, begins at 8 am at Howard and Main, winds through the Golden Gate Park and ends at the Ocean.

One of our long-time owners invites a group of friends to join her at the Suites every year to run in the race. She gets ready by walking to the Golden Gate Bridge and continuing to Sausalito and then back to the Suites in time to enjoy the wine hour. She is an inspiration!

Please be reminded that the April property tax installment was due. If you did not receive your tax bill in the mail, please contact me and I can help you pay for it online.

If you are a new owner or have moved, you will need to contact the SF Tax Collector to give them your new address. You can also contact me for assistance.

Also, the BOD minutes are always posted on the website: www.sfsuitescsa.com

Spring tulips are a symbol of pure love and yellow tulips are a symbol of sunshine, cheerfulness and friendship.

We all look forward to welcoming you back to your “home away from home” and a vase of yellow tulips will always be waiting for you in the lobby as a friendly and cheerful welcome.

Happy Spring!

Cynthia Reid
General Manager
San Francisco Suites

Annual BOD Meeting March 7, 2026

Mar 7, 2026

(DRAFT)

San Francisco Suites

Annual Meeting of the Board of Directors

March 7, 2026

The meeting was called to order by President Geoffrey Bellah at 11:05 am. The Board Directors present were:

Geoffrey Bellah, President

Fred Munroe, Vice President

Dwight Walker, Treasurer

Nancy Hudson, Secretary

Jo Ann Trembath, Director at Large

Others Present: Cynthia Reid, General Manager

Don Thomas, Owner

Sue Jocelyn, Owner

President Bellah called the meeting to order at 10:59 am.

Owners Forum: Don Thomas, a member of the Union Square Alliance, said that he would share weekly updates about neighborhood improvements. He noted that the Annual Tulip Day where 80,000 tulips will be displayed in Union Square Park will occur on March 21st.

President’s Report: President Bellah noted that the only nomination for the one vacant seat on the Board was Geoffrey Bellah. Since there were no other nominees, there was no need to have conduct balloting, and Mr. Bellah was, by acclamation, reappointed as a Board member. He then presented a scenario of how he might welcome himself if he was a new member of the Board and encouraged other owners to step forward and contribute to the association

Approval of the Minutes of January 24, 2026 Board Meeting: Dwight Walker moved and Fred Munroe seconded the motion to approve the minutes of the Open Meeting of the Board of Directors on January 24, 2026. The motion passed unanimously.

Treasurer’s Report: Dwight Walker noted that this report covers the 12 months’ ending

December 31, 2025, as well as a separate summary for the month of January 2026.

The report includes income, expenses and net income (loss) for each period, along with key

highlights and observations.

Financial Summary: 12 Months Ended December 31, 2025 (Preliminary until audit completed in April)

Summary of Income and Expenses (2025)

Category Amount (USD)

Income $1,499,563

Expenses $1,505,915

Net Income (Loss) ($ 6,652)

Key sources of income included owner assessments of $1,288,464 and Airbnb rental

income of $98,947, while major expenses were related to payroll costs of $980,803

operating costs of $303,029, insurance of $144,151and bad debts of $73,563. Cynthia Reid

is to be commended for offsetting the uncollectible owner assessments through Airbnb

rental income and sales of shares. At the end of the year there were 49 Ownership Shares

held by SF Suites.

Replacement Reserve cash balance as of the end of 2025 was $824,836 which represents

roughly 43% of the Reserve Study’s “Fully Funded” balance of $1,718,750. During 2025 just

under $75,000 was spent out of the reserve with the largest projects related to mattress

and wall bed replacements.

Financial Summary: January 2026

Summary of Income and Expenses (January 2026)

Category Amount (USD)

Income $129,660

Expenses $125,090

Net Income (Loss) $ 4,570

In January 2026, the Suites continued its positive financial trend, with net income slightly

exceeding budget thanks to Cynthia Reid’s diligence in spending withing budget and

through Airbnb rental income almost $4,000 over budget. The challenge for 2026 remains

the same as 2025 with 160 ownership assessments not collected as of the end of January.

That translates into over $284,000 in cash not collected to fund 2026 operations. It takes

extra effort to follow up on uncollected assessments, and it jeopardizes owners who do pay

their assessments of the possibility of a special assessment to fund operations for the year.

Cynthia Reid devotes an inordinate amount of time in collections, sales of shares and

managing Airbnb rentals in order to avoid a special assessment. We thank Cynthia for her

efforts in offsetting uncollected assessments!

At the end of January, $894,480 was available in Replacement Reserve cash representing

roughly 46% of the “Fully Funded” balance.

General Manager’s Report: Cynthia Reid reported:

Financials

  • Wells Fargo $315,108.17

  • Fidelity Reserve $909,324.95

  • Fidelity Ops $561,013.17

SFS Inventory (59)

  • 59 non-performing shares owe $104,784.00

  • 3 deed backs in progress (assessments paid)

  • Sold 4 masters = $14,000(assessment included)

  • Adopted 1 parlor

Total Revenue for January-February $33,757.85

  • Sale of shares $14,000

  • Jan- February Airbnb $19,757.85

  • Total =$33,757.85

2026 assessments (710 assessments have been paid)

  • 47 owners have not paid the assessment = $87,024

  • SFS 59 non- performing shares owe = $104,784

  • Shares are now delinquent and will have a 10% late fee ($177.69) added in March

  • Delinquent assessment = $1,953.69

  • Delinquent shares will be placed in foreclosure in June

  • Adopt a parlor notice will soon be sent out

SF City Parking increases

  • Self-Park was $38 and will be increased to $41.00 in April

Projects

  • 9 Cal King mattresses have been installed in all Master Suites

  • 13 new sofa beds are in process

Maintenance

  • Annual carpet and upholstery cleaning was completed in the week of February 23

  • LED light bulbs and dimmers repaired in all Suites

  • New painted, wooden thresholds replaced in all Suites

Ongoing Business: Cynthia Reid:

  • Updated the Board on the costs related to the mattresses and linens. The mattresses cost $27,253.53 and the linens cost $20,235.28 for a total of $48,488.81

  • Noted that the fabric for the sofa beds was being treated with flame retardant

  • Indicated that various options for the lobby ramp are being studied

  • Action Item – Fred Munroe moved and Jo Ann Trembath seconded the motion to accept the proposed changes to the Rules and Regulations allowing owners and share adopters to book up to seven nights bonus time in a Parlor Suite for $160 per night. The motion passed by a margin of four to one.

New Business: Dwight Walker moved and Fred Munroe seconded the motion to approve IRS Revenue Ruling 70-606, allowing the Association to move excess funds into the following year’s operating account to avoid IRS taxation. The motion passed unanimously.

Forward Planning:

Cynthia requested, and the Board agreed, that the hallway and staircase carpeting replacement be moved to 2027. In the future only one major project be undertaken each year.

Jo Ann Trembath moved that the meeting be adjourned and Fred Munroe seconded the motion which passed unanimously. The meeting adjourned at 11:54 am.

Respectfully Submitted,

Nancy R. Hudson

The Board reconvened after the meeting to select Directors for the coming year. They are as follows:

Geoffrey Bellah, President

Nancy Hudson, Vice President

Dwight Walker, Treasurer,

Jo Ann Trembath, Secretary

Fred Munroe, Director at Large

Dates for future meetings are:

May 30, 2026

September 19, 2026

November 7, 2026

January 16, 2027

March 6, 2027

The next meeting of the Board of Directors of the San Francisco Suites is scheduled for

May 30, 2026.

MARCH 2026 GM LETTER

Mar 4, 2026

Happy Lunar New Year!

Cable cars are festooned with red and gold lanterns, heralding the 2026 Chinese New Year and marking the beginning of the Year of the Fire Horse which only appears every 60 years.

The Fire Horse signifies a dynamic year of independence, passion and rapid change, bringing bold actions, speed and resilience. The Year of the Fire horse rewards bravery and forward momentum.

The Chinese Lunar Parade will be held on Saturday, March 7 at 8pm

  • Parade begins at 2nd and Market and features the 288 ft Golden Dragon

Chinese Restaurants to experience:

  • China Live 644 Broadway

  • Mr. Jiu’s 28 Waverly Place

  • R&G 631 Kearney

  • Z & Y Restaurant 655 Jackson

The 2026 Super Bowl held on February 8 at Levi Stadium in Santa Clara was not just a win for the Seahawks but for the entire Bay Area, especially San Francisco.

Alex Bastion, CEO of Hotel Council, writes for SF Business Times.

“We showed the world why San Francisco remains a premier destination for global events.

There is no city quite like it. Its geography, history, creativity and contradictions set it apart.

You can taste the uniqueness in our restaurants, see it in our architecture and feel it in our neighborhoods. Above all, you experience it through the people who live and work here.”

This success came together due to working San Franciscans collaborating, together with civic pride. Mayor Lurie led the way with city workers, hospitality workers, public safety officers and transit operators. The city felt clean, safe and welcoming and even Karl the Fog stayed out of the way.

Super Bowl 2026 may have been the best marketing plan, not due to slogans, banners or ads but because of the reality of first-hand experience.

San Francisco Suites is also reaching out to attract new owners and trying to change the narrative that timeshares are no longer popular. Due to a generational shift at the Suites, which has resulted in many non-performing shares, due to original owners having to relinquish their shares, there have been discussions about the need for a marketing plan. However, the Airbnb rental program, just like the Super Bowl experience, gave new guests first-hand experience to enjoy the uniqueness of an Edwardian property filled with European art, antiques and sparkling chandeliers coupled with exceptional hospitality.

Not only do we now have a worldwide presence on a booking platform, but the result is when a new guest experiences the Suites, they not only want to return but they want to become an owner.

At the end of a stay, at a great property, it is not only the surroundings that make an impact, but it is how you were made to feel during your stay that makes a lasting impression.

The result of the overwhelming success of the rental program, which brought in $91,000 in revenue last year and offset the deficit due to the large number of non-performing shares, along with the help of owners bringing in their friends to experience the Suites, we now have 16 new owners.

It is the personal experience that changes the narrative.

This is the best marketing plan for both the City and San Francisco Suites.

Here is an open invitation to any owner who has a friend or family member who may be interested in becoming an owner, we will have a complimentary night for them at the Suites.

The Board and I would like to thank owners, Rick Osgood, David Maul and Linda Nicolay, who sent their friends to stay at the Suites and now have become new owners.

San Francisco Suites is also on the rise.

Lastly, San Francisco continues to rise

  • March 1, the Huntington Hotel and Spa have now reopened with the Big Four opening on March 17.

  • The Bay Bridge Illuminate light installation with 50,000 LED lights creating a

360 -degree display will return at the end of March.

Happy Spring!

Cynthia Reid

General Manager

San Francisco Suites

3/3/2026