San Francisco undergoes amazing hotel boom [Download construction report]
TOPHOTELCONSTRUCTION data shows more than 1,000 rooms being built in Silicon Valley driven by biotech boom
There is a hotel construction boom taking place in the American city of San Francisco, one that reports suggest is being fuelled by a booming biotech sector. Recent data from TOPHOTELCONSTRUCTION shows that there are more than 1,000 rooms in the pipeline for San Francisco and the surrounding Silicon Valley area, including those in both new and renovated hotel spaces. Meanwhile, other sources indicated that the biotech and life sciences sectors in the region have as of late attracted more than 20,000 workers in those areas to South San Francisco. That number likely stands to grow to more than 40,000 over the next three years, driving local growth in all businesses, including hospitality.
Which hotels are growing in the San Francisco area?
A closer look at the data from TOPHOTELCONSTRUCTION reveals which hotel companies and brands are adding new rooms in the San Francisco area. According to those numbers, some of the world’s most prominent and luxurious hotels are expanding in San Francisco. Leading the way is the W San Francisco with a project that will yield 404 rooms. Close behind is BEI San Francisco, with a project slated to create 396 new rooms, while the Grand Hyatt San Francisco International Airport has a project involving 351 rooms.
An ongoing biotech boom
Fuelling this hotel growth is a boom in San Francisco’s biotech sector. Since the industry first came to the region in the late 1970s, the city has established itself as the home of one of the world’s largest biotech clusters.
For the uninitiated, biotech is a broad area of biology which involves using living systems and organisms to develop products and other technological applications with applications in related sciences.
Since many new hotel projects are set in the biotech hub of South San Francisco, the local hospitality industry’s growth can be linked directly to the strong biotech sector.
Let’s take a look at a few other projects currently underway in San Francisco:
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