SAN FRANCISCO (KRON) — Oracle has decided to move its annual conference OpenWorld from San Francisco to Las Vegas.

An Oracle spokesperson confirmed the move to KRON4 Tuesday.

For years, an estimated 60,000 people have come to San Francisco to attend the annual event.

The spokesperson said in a statement that the company will continue to “enjoy a strong relationship” with the city.

“This could be the tipping point of other businesses and conventions leaving SF, it is no secret that our streets need help and cost of living and maintaining workers is really challenging,” said San Francisco Chamber of Commerce President Rodney Fong.

The Chamber says this is not the first convention to move out of San Francisco and they say its a blow to small businesses.

“It’s significant hotel stays taxi rides food etcetera,” Fong said. “We are hoping at some time there is a change of heart , but it’s disappointing.”

It’s believed high hotel costs contributed to the decision.

“I really don’t want to see San Francisco continue to be a place where only those who can afford to have a convention here are holding a convention here,” said Mayor London Breed.

Issues related to homelessness and overall cleanliness of the city are also believed to be a part of the decision.

The mayor said she doesn’t believe there will be many more to come.

“They are bothered by it, but I don’t think it will discourage people from choosing San Francisco as a destination, but my hope is they see a real change as they continue to come and visit,” Breed said.

Oracle currently owns the naming rights to the San Francisco Giants ballpark.

The statement did not provide a reason why the conference will be moved.

“Oracle is excited to offer a modern, state-of-the-art experience for attendees at Oracle OpenWorld and Code One 2020 in Las Vegas,” the statement says. “The city and its vast amenities are tailor-made for hosting large-scale events, and we look forward to bringing the industry’s most comprehensive technology and developer conference to America’s premier hospitality destination.  Oracle continues to enjoy a strong relationship with the City of San Francisco and partners such as the San Francisco Giants and the Golden State Warriors.  We look forward to working with our longstanding counterparts in San Francisco on future events.”