San Francisco APEC turned out to be a gut punch to a commercial area that has been struggling to recover since the pandemic.
Four businesses The Standard spoke to that are based in and around the APEC security zone said contrary to the summit’s billing as a shot in the arm for business, the results were the exact opposite, as food rotted and seats remained empty for an entire week.
Pedestrians walk through and around metal barricades at the corner of Fourth and Mission streets in San Francisco on Nov. 14, 2023. | Source: Justin Katigbak/The Standard
Business owners blamed the lack of customers on messaging urging people not to visit the area unless they had to, the physical barriers around the Moscone Center security perimeter and the protests.
At the Grove, a restaurant on 690 Mission St., revenue was down 40% during the APEC conference, with 350 fewer customers than a normal week, according to David Cohen, CEO of the Grove’s parent company.
‘It Destroyed Our Financials’
“We stayed open to be a part of this event to showcase the city, and we saw a huge sales drop,” Cohen said. “It destroyed our financials.”
Cohen said the Grove is normally packed all day during large conferences