Hotel prices in Silicon Valley have now become some of the most expensive in the world, and those working in the industry only see prices heading higher.
A hotel room in the valley costs an average of $327 per night, according to data provided exclusively to CNBC by Hotel Tonight. That's up more than $100 from a year ago.
That means Silicon Valley is now more expensive than New York or London, which cost $234 and $171, respectively.
"Hotel prices and hotel occupancy really just trend like the rest of the entire economy," Sam Shank, CEO of Hotel Tonight, told CNBC. "The entire economy is white-hot out here. There are no signs of it slowing down. So, as long as that's the case, hotel prices and hotel occupancy are going to grow to match that."
Shank says one reason for the jump in hotel prices has to do with tech companies, which continue attracting more attention from potential partners flying into Silicon Valley for interviews, meetings and deals.
"There is nothing that can replace a face-to-face meeting," said Shank. "Nothing can replace a meeting at the Googleplex, Twitter or Facebook. That's why people are coming to Silicon Valley and San Francisco."
One event everybody in the hotel industry is waiting for is the Super Bowl, which comes to the Bay Area in early 2016. That will be sure to cause a significant spike in rates.