San Francisco Hospitality Market Report
Bay Area Tourism Observing Steady Increases;
Convention Activity Stimulates Business Transit
High-profile events return as pandemic restrictions fade. One of the hardest-hit metros during the health crisis, San Francisco dropped nearly all COVID-19 restrictions earlier this year. As capacity regulations are lifted, large-scale events should stimulate hospitality recovery. The city of San Francisco proper welcomed its first NBA Finals in June, with the 19,000-seat Chase Center hosting half of the series and additional games during the playoffs. Other events and the 21.9 million individuals expected to visit the metro in 2022 will help elevate occupancy, pushing ADR above $200 by the end of the year. An expected influx of foreign travelers will play a significant role in boosting hotel demand, as before the pandemic, one-third of the metro’s tourism stemmed from international sources.