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You really think the minimum wage is why hotels are expensive in SF?
by dopamean 11y ago
You really think the minimum wage is why hotels are expensive in SF?
- smackfu 11y agoThe 15% min wage increase caused an 88% increase in hotel prices. Of course.
- deleted 11y ago[deleted]
- justizin 11y agoAlso, this logic leans on the notion that people would actually work in a hotel for minimum wage - that's unlikely.
- fennecfoxen 11y agoWhile 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.
- henrikschroder 11y agoYeah, the real-estate shortage, tech boom, and the fact that many corporations moved their events to SF from Las Vegas can't possibly have anything to do with it...