Re:San Francisco Hotels Are World’s Priciest as Rates Surge
by fennecfoxen on Wednesday July 01, 2015 @02:35PM
(#9814134)
While that growth is helping buoy hotel demand, many developers eschew lodging projects because of the high expenses associated with staffing a hotel in San Francisco...
“If you want to build something in San Francisco today, the economics, such as labor costs and zoning, essentially favor other asset classes,” [David Loeb, a lodging analyst] said.
So, eh. San Francisco had rising labor costs to begin with, but bringing up the minimum wage can't be that much of a stretch.
So, eh. San Francisco had rising labor costs to begin with, but bringing up the minimum wage can't be that much of a stretch.