Report: San Francisco Hotels Most Expensive in the World

San Francisco is apparently the most expensive city in the world to spend the night. A Bloomberg Business report shows the average price for a hotel room in the city is about $400 a night.

With an average of $397 a night, that's an 88 percent jump over the past year.

Chicago and Miami tie for the second priciest American cities to book a room with rates at $240. That's more than Los Angeles by a few dollars.

Experts say the skyrocketing costs are driven by business employees and tourists who want to stay in the cities for “downtown experiences.”

In response to the report, a San Francisco tourism group told San Francisco Business Times that Bloomberg's calculation is off because it includes the dates for Super Bowl 50, which will be held in the Bay Area.

According to the report, the average nightly hotel cost in San Francisco is $105 more than the second-most expensive city in the world to spend a night, Geneva, Switzerland.

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