Los Angeles

SAN Francisco already is one of the priciest US cities for apartment renters and companies seeking office space. Now the area has a new distinction: it's the world's most expensive place for visitors to spend the night.

The average price for a San Francisco hotel room has jumped 88 per cent in the past year to US$397 a night, according to an index compiled by Bloomberg of the world's top 100 financial centres. The city ranks ahead of Geneva, where rooms set travellers back US$292 a night, and Milan, at US$271. Chicago, with rates at US$240, ties with Miami as the second-costliest US cities.