A 686-room hotel across the street from San Francisco’s convention center is going back to its lender, joining a parade of high-profile venues with former owners that have thrown in the towel and bet against a quick recovery of the city’s struggling downtown.

In a deed-in-lieu of foreclosure transaction, Highgate is giving up the Hyatt Regency San Francisco Downtown SoMa to lender Blackstone Mortgage Trust.

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