San Francisco already is one of the priciest U.S. cities for apartment renters and companies seeking office space. Now the area has a new distinction: it’s the world’s most expensive place for visitors to spend the night.
The average price for a San Francisco hotel room has jumped 88 percent in the past year to $397 a night, according to an index compiled by Bloomberg of the world’s top 100 financial centers. The city ranks ahead of Geneva, where rooms set travelers back $292 a night, and Milan, at $271. Chicago, with rates at $240, ties Miami as the second-costliest U.S. cities. The Hotel Council of San Francisco and the San Francisco Travel Association say the price calculations are skewed because they include the dates for next year’s Super Bowl.