As green shoots begin to emerge in San Francisco's battered hotel sector, the board of the Tourism Improvement District (TID) disclosed that it has doubled an increase of the TID's assessment on nightly hotel rates in a bid to boost tourism and stem the exodus of conventions from the city.
The board, including prominent hoteliers and city officials, approved what was characterized as an "emergency" fee hike—the second increase of the TID fee to take effect this year—after concluding that "San Francisco is not a competitive destination at this moment in time," the San Francisco Business Times reported.
The increase of the hotel fee to 2.25% effective Nov. 1 will generate an estimated $14.6M in additional revenue, most of which will be used to fund SF Travel, a marketing agency that promotes tourism and convention business in San Francisco.
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