Oracle's OpenWorld conference, which annually hosts 60,000 guests, will be leaving San Francisco after two decades, reportedly citing "poor street conditions" and high costs as the driving factors in the decision.
The news was first reported by CNBC, which acquired an email the San Francisco Travel Association sent to its members on Monday.
"Oracle stated that their attendee feedback was that San Francisco hotel rates are too high," read part of the email. "Poor street conditions was another reason why they made this difficult decision."
The SFTA said it anticipated OpenWorld would result in 62,000 hotel room nightly bookings in Oct. 2020, Oct. 2021 and Sept. 2022.
"The estimated economic impact of each of the above is $64,000,000, a huge loss for our city," said the email. This, of course, assumes that those rooms will not be filled by other bookings.