San Francisco prices are so out of control that one hotel is charging the equivalent of $21.25 for a cup of coffee during a JPMorgan conference
- San Francisco's Parc 55 hotel is charging every company holding an event on its property during the annual JPMorgan Healthcare Conference $170 for a gallon of coffee, according to a menu obtained by STAT.
- That's about $21.25 for a 16-ounce cup of coffee.
As if San Francisco wasn't already ridiculously expensive, some attendees of the annual JPMorgan Healthcare Conference will be paying upwards of $21 for a single cup of coffee at one participating hotel in the city.
The Parc 55 hotel, based in San Francisco's Tenderloin neighborhood, charges $170 for a gallon of coffee (that breaks down to about $21.25 for a 16-ounce cup) to any company holding a JPM Week event on its property, according to a menu obtained by STAT.
Can you imagine trying to expense a $170 gallon of coffee?
The conference, which in the past has featured keynote speeches by Joe Biden and Bill Gates, runs from January 7 to 11.
Some past attendees have said they have a hard enough time scoring an affordable hotel reservation - not to mention other essentials when visiting for the conference.
"I understand why hotels want to take advantage of it, (but) they're kind of killing off the golden goose," Biotech Showcase founder Sara Jane Demy told San Francisco Business Times back in December. Biotech Showcase is the second-largest conference held during JPM Week.
Despite the exuberant prices for even the most basic needs, like coffee (obviously), biotech companies don't plan on abandoning the San Francisco-based conference just yet.
Why? Because that's where the conference has been historically held! And, according to the STAT report, a contract has been signed with the Westin hotel and the conference's namesake Wall Street investment bank for another 17 years!
Anyone want to place bets on the cost of coffee for next year's conference?