When it opened in 1875, the Palace Hotel was the largest and most luxurious hotel in the world, a perfect symbol of one of the most remarkable eras in San Francisco history. Built at a time when NevadaÂ’s fabulously rich silver mines were pouring millions of dollars each month into San Francisco, it typified the color and grandiose extravagances of the whole bonanza period. After the original hotel was destroyed in the 1906 earthquake and fire, a successor Palace Hotel took its place and remains one of the most prestigious hotels in San Francisco today.