San Francisco Hotels Accommodate Full Range of Travel Budgets; Annual Average Daily Rate $255

San Francisco is a top global destination for tourists and conventions, but it is NOT home to the “world's priciest hotel rates” as indicated in a BloombergBusiness story published Tuesday, June 30.

Based on unexplained research, the snapshot survey chose two random blocks of time, one of which includes next year's San Francisco-hosted iconic 50th Super Bowl week, a once-in-a lifetime event. The story also fails to provide year-to-year comparative data, fails to explain why the two time blocks were chosen and fails to disclose the number of hotels surveyed in each city. In short, the story's inaccuracies provide a false representation of San Francisco's actual hotel prices.

“Members of San Francisco's hospitality community accommodate a full range of visitors' travel budgets, whether they are here to enjoy the beauty of the Bay or attend a business convention,” said Kevin Carroll, executive director of the Hotel Council of San Francisco. “The millions of visitors who stay in our hotels every year enjoy the best rooms at the best prices.”

“Our city and our industry put visitors first, striving every day to accommodate the budget needs of families and businesses,” said Joe D'Alessandro, president and CEO of the San Francisco Travel Association. “Our people-first approach helped more than 18 million visitors enjoy the iconic San Francisco landmarks last year.”

Instead of randomly selected dates, the accepted standard of hotel rate comparison worldwide is the annual Average Daily Rate, which represents the average annual room rate over the course of a full year.  The 2015 year-end annual forecasted ADR for San Francisco is $255 as determined by PKF Consulting USA, a hospitality research company. This is more than one-third less than the $397 cited in the Bloomberg story. For context, San Francisco typically ranks third in U.S. ADR behind New York and Honolulu.

“The Bloomberg story at best is an aberration and at worst misrepresents true room prices, doing a disservice to consumers either way,” said Chris Kraus, Managing Director of PKF Consulting USA. “Selecting a Super Bowl week as a fair comparison of hotel prices – and not stating that in the story – fails to provide an accurate picture of San Francisco hotel room prices.”

About the Hotel Council of San Francisco

The Hotel Council of San Francisco is the voice of San Francisco's hotels. Established in 1987, the Hotel Council represents the city's leading hotels of all sizes and includes members from businesses and industries that are major suppliers. Learn more at www.hotelcouncilsf.org.

About the San Francisco Travel Association

The San Francisco Travel Association is a private, not-for-provide organization that markets the city as a leisure, convention and business travel destination. With 1,500 partner businesses, San Francisco Travel is one of the largest membership-based tourism promotion agencies in the country. Please visit www.sanfrancisco.travel

About the PKF Consulting USA

PKF Consulting USA (“PKF”) is a division of the CBRE Group (NYSE:CBG), the largest real estate services firm in the World.  PKF is a national firm of management consultants, appraisers, real estate brokers, and industry specialists who provide a full range of services to the hospitality and tourism industries. Headquartered in San Francisco, the firm has offices throughout the United States.

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