Mr Huang tells me that so voluminous was the flow of public cash into the luxury hotel industry that it was distorting the market with new five-star establishments planned and built on the back of it.
But with the recent arrival of five-star contemporary favourites such as the St Regis and or the Four Seasons, located along bustling Market Street, the high end has come down to sea level and into buzzy SoMa, the acronym for the once-gritty-now-booming area south of Market Street.