(The Center Square) – San Francisco officials are aiming to spend an additional $10 million on securing rooms in area hotels for the city’s homeless population.
Proposed ordinances would amend booking agreements between the city’s Department of Homelessness and Supportive Housing with the operators of the Adante, Monarch and Cova hotels allowing for increased billing limits through the end of the agreement in August 2024.
Sayana Corp., which operates the Adante, would have a billing limit increase of $3.6 million to a total of $18.4 million annually.
The increase would be $4.1 million for the Lombard Hotel Group, which operates the Monarch. It would make the annual amount $19.1 million.
Shin International, operator of the Cova, would get an additional $2.9 million in its limit to a total of $14.3 million annually.
Each of these hotels are located in downtown San Francisco near Union Square. San Francisco’s hotel market was the only major hotel market in the country to see falling prices, as reported by Reuters earlier this year.
