Sunday marks the end of a 60-day cooling-off period in The City's ongoing hotel labor dispute with both sides saying there is little chance for any agreement.

Wednesday, the San Francisco Multi-Employer Group, which represents the 13 prominent hotels embroiled in the fight, put a new wage proposal on the table, offering a $1 dollar raise over four years to non-tipped workers and 50 cent increase to tipped workers.

But Local 2 President Mike Casey said the proposal didn't come close to satisfying the needs of his 4,300 members currently working without a contract.

"That is such a waste of time, it's not even worth discussing," Casey said. "Until they bring themselves to make a serious and realistic proposal, there is not much hope for a settlement."

Matt Adams, managing director of the Hyatt Regency, said the hotels have made a comprehensive proposal that includes 16 percent increases in wages and benefits.

Adams accused the union of not living up to the cooling-off period agreement -- both sides pledged to bargain aggressively to settle the dispute. Mayor Gavin Newsom brokered the cooling-off period after workers walked off the job in a two-week strike, which was followed by a monthlong lockout of the workers by the owners.

"They have no intention of settling by Sunday and it's clear they never had any intention to settle," Adams said. "Their members are angry at the union for not working harder to get this deal done."

Meanwhile the union continues to coordinate an economic boycott of the hotels without union contracts. While Casey said the union would not go back out on strike, it's possible they'll set up "informational pickets."

The Convention and Visitors Bureau has received "a handful" of calls from meeting planners saying they were under pressure to move from the hotels in question, spokesman Tim Zahner said.

Wednesday, California Public Employees' Retirement System Executive Director Fred Buenrostro told his board that they would be moving a two-day meeting in March from the Westin St. Francis to the Fairmont San Jose.

He said CalPERS was "unable to mitigate or ameliorate the risk."

"If there were a strike we would have to cancel," he said.