Nob Hill is an affluent district, home to many of the city's upper class families as well as a large young urban professional population, and a growing Chinese immigrant population from a slowly encroaching Chinatown to the east. Sometimes it is sarcastically referred to as Snob Hill (in fact, "nob" is a slang term meaning "wealthy and distinguished person", possibly influenced by the word "nabob", and thus similar in meaning to "snob").The intersection of California and Powell streets is the location of its four well-known and most expensive hotels: the Fairmont Hotel, the Mark Hopkins Hotel, the Stanford Court, and the Huntington Hotel.