OCTOBER 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.6% (JULY 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +5.9% (JULY 2023 vs. JULY 2022) NEWPORT BEACH HOTELS (SEPTEMBER 24 – SEPTEMBER 30, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 75.8% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 17.3% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $343.21 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 75.5%
ORANGE COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS (SEPTEMBER 24 – SEPTEMBER 30, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 38.9% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $475.32 SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS JUNE 2023 JUNE 2022 1,059,277 1,001,249 +5.4% US AUTO MARKET SALES BY MONTH AUGUST 2023 AUGUST 2022 694,865 1,136,045
OCTOBER 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JULY 24, 2023 – SEPTEMBER 25, 2023 SOURCE: OCAIR.COM SOURCE: U.S. ENERGY INFORMATION DEPT., STR ORANGE COUNTY/JOHN WAYNE AIRPORT (SNA) MONTHLY PASSENGER TRAFFIC (2023, 2022 & 2021)
PASSENGER COUNT GASOLINE/GAL VS HOTEL OCCUPANCY RATE 86.8% 82.8% 77.6% 71.9% 67.8% 62.1% 61.5% 76.7% 79.2% 75.8% $3.71 $3.86 $3.94 $3.96 $3.98 $3.93 $3.92 $3.94 $4.00 $3.96 $4.81 $4.93 $5.00 $5.08 $5.20 $5.21 $5.25 $5.35 $5.66 $5.80 70 80 90 0 JUL 31 AUG 07 JUL 24 AUG 21 AUG 28 SEP 04 SEP 11 SEP 18 SEP 25 AUG 14 OCCUPANCY RATE NATIONAL GAS PRICE CALIFORNIA GAS PRICE 881,049 944,544 992,569 1,041,342 1,059,614 916,767 958,826 1,003,5101,001,249 1,049,187 1,030,933 1,014,460 1,079,792 1,014,095 944,146 195,290 495,592 890,185 831,522 783,737 873,422 854,393 847,671 FEB 385,396 227,402 MAR 717,400 841,593 APR JAN 585,735 MAY 730,144 JUN JUL AUG SEP OCT NOV 360,402 DEC 2022 2021 2023
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
ECONOMIC METRICS
U.S. INFLATION CALCULATOR
U.S. INFLATION CALCULATOR, STR
INFLATION
YOY COMPARISON (2021 – 2023)
SOURCE:
SOURCE:
RATE OF
BY MONTH
OF INFLATION VS MONTHLY HOTEL OCCUPANCY RATE (%) JANUARY – DECEMBER 2023 6.4% 7.5% JAN 1.7% 7.9% 6.0% FEB 2.6% 8.5% 5.0% MAR 4.2% 8.3% 4.9% APR 5.0% 8.6% 4.0% MAY 5.4% 1.4% 3.0% JUN 5.4% 8.5% 3.2% JUL 5.3% 8.3% AUG 5.4% 8.2% SEP 6.2% 7.7% OCT 6.8% 7.1% NOV 7.0% 6.5% DEC 9.1% 2022 2023 2021 INFLATION RATE JAN 6.0% 65.7% FEB 5.0% 66.2% MAR 4.9% 67.6% APR 4.0% 68.3% MAY 6.4% 54.9% 74.0% JUN 3.2% 81.4% JUL AUG SEP OCT NOV DEC 72.2% 3.7% 3.0% 2023 INFLATION RATE 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) INFLATION RATE VS OCCUPANCY RATE
RATE
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
ZARTICO
ZARTICO
SOURCE:
SOURCE:
SEPTEMBER 24 – SEPTEMBER 30, 2023
OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS
VISITATION SPENDING BY CATEGORY SEPTEMBER 24 – SEPTEMBER 30 , 2023 VISITATION BY ORIGIN MARKET CATEGORY TYPE 40.6% 37.5% 9.8% 3.7% 2.7% 1.8% 1.8% 1.0% 0.7% 0.4% Food Accommodations Gas & Service Stations Transportation Retail Outdoor Recreation Health Attractions Business & Professional Nightlife 21.7% 9.2% 9.1% 8.4% 5.5% 4.9% 3.4% 2.5% 2.2% 2.1% Los Angeles CA San Diego CA Phoenix AZ San Francisco Jose CA Sacramento CA Las Vegas NV Salt Lake City UT Denver CO Palm Springs CA Fresno-Visalia CA
% OF TOTAL VISITORS BY ORIGIN MARKET
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEK OF SEPTEMBER 03 – SEPTEMBER 24, 2023 ) )
NEWPORT BEACH HOTELS AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
78.3% 76.9% 68.1% 66.3% 68.8% 60.1% 63.3% 78.4% 76.0% 64.6% 86.7% 82.2% 77.6% 71.9% 67.8% 62.1% 61.5% 76.7% 79.2% 75.8% 0 55 110 AUG 27 JUL 30 AUG 06 SEP 03 AUG 20 AUG 13 SEP 10 SEP 17 SEP 24 JUL 23 2022 2023 WEEKLY OCCUPANCY 77.1% 63.5% 54.9% 55.3% 35.9% 80.7% 74.0% 68.9% 47.1% 87.5% 78.9% 84.6% 60.2% 79.5% 87.1% 80.0% 62.7% 73.2% 84.6% 73.9% 68.7% 75.8% 88.7% 80.5% 78.7% 77.1% 86.4% 87.3% SEP 03 - SEP 09 SEP 10 - SEP 16 SEP 17 - SEP 23 SEP 24 - SEP 30 OCCUPANCY BY MONTH 22.7% 29.6% 38.6% 47.7% 52.7% 62.7% 71.6% 61.7% 58.1% 59.8% 53.5% 51.5% 37.5% 63.8% 62.9% 70.1% 68.4% 56.6% 54.9% 65.7% 66.2% 67.6% 68.3% 74.0% 81.4% 72.2% MAR FEB APR 60.2% 52.7% MAY 64.2% JAN JUN 73.5% JUL 67.9% AUG SEP OCT 61.0% NOV DEC 2022 2023 2021
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEK OF SEPTEMBER 03 – SEPTEMBER 24, 2023 ) NEWPORT BEACH HOTELS AVERAGE MONTHLY ADR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021) NEWPORT BEACH HOTELS WEEKLY ADR (2023 v 2022)
WEEKLY ADR ADR BY MONTH $432.94$446.59 $419.27 $396.60 $388.67 $373.05 $346.64 $345.14 $346.89 $351.31 $416.55$428.07 $412.58 $382.55 $376.89 $351.25 $348.02 $328.28 $336.75 $343.21 250 350 400 450 200 AUG 13 AUG 06 AUG 27 JUL 30 JUL 23 SEP 03 SEP 10 SEP 17 SEP 24 AUG 20 2022 2023 $402.06 $307.55 $301.14 $308.05 $312.64 $312.09 $321.40 $313.83 $306.67 $321.92 $342.57 $332.71 $306.77 $324.13 $341.24 $333.31 $326.04 $329.25 $331.24 $340.14 $363.45 $337.36 $348.12 $374.89 $371.58 $363.94 $356.43 $381.30 SEP 03 - SEP 09 SEP 10 - SEP 16 SEP 17 - SEP 23 SEP 24 - SEP 30 $243.75 $255.16 $278.18 $296.71 $287.16 $316.50 $397.40 $338.41 $303.37 $311.15 $338.97 $306.70 $320.66 $323.93 $330.92 $341.95 $444.09 $407.58 $359.90 $333.91 $328.49 $334.66 $297.65 $323.83 $327.80 150 200 250 300 400 450 MAY $379.47 $337.10 JUN $321.16 $408.73 JUL $403.73 APR MAR $397.56 FEB AUG SEP OCT NOV $308.50 JAN DEC 2022 2023 2021
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF SEPTEMBER 03 - SEPTEMBER 24, 2023)
NEWPORT BEACH HOTELS AVERAGE MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY REVPAR (2023 v 2022)
WEEKLY REVPAR REVPAR BY MONTH $338.80 $343.43 $285.48 $263.09 $267.43 $224.38 $219.26 $270.70 $263.63 $227.07 $363.63 $354.58 $320.19 $274.92 $255.53 $218.03 $213.93 $251.95 $266.87 $260.15 AUG 27 JUL 30 AUG 06 SEP 03 SEP 10 AUG 20 AUG 13 SEP 17 SEP 24 JUL 23 2022 2023 $309.91 $195.27 $165.32 $170.44 $112.26 $251.87 $237.92 $216.28 $144.38 $281.62 $270.37 $281.51 $184.68 $257.67 $297.39 $266.65 $204.37 $240.97 $280.34 $251.34 $249.66 $255.63 $308.87 $301.86 $292.27 $280.65 $307.87 $332.98 SEP 03 - SEP 09 SEP 10 - SEP 16 SEP 17 - SEP 23 SEP 24 - SEP 30 $55.35 $75.46 $141.42 $151.26 $284.44 $248.99 $199.62 $181.29 $166.41 $174.69 $114.90 $206.54 $208.16 $254.02 $228.53 $200.34 $188.93 163.38 202.61 214.28 221.63 $219.32 $332.86 $287.05 JAN $169.04 FEB $107.24 MAR APR $205.89 MAY $198.54 $253.62 $249.49 JUN $326.26 JUL $278.88 AUG SEP OCT NOV DEC 2022 2023 2021
SOURCE: STR, KEY DATA DASHBOARD NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY ADR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY REVPAR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY OCCUPANCY OCTOBER 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS WEEKLY 86.8% 82.8% 77.6% 71.9% 67.8% 62.1% 61.5% 76.7% 79.2% 75.8% 56.8% 55.8% 53.8% 51.9% 46.7% 46.4% 44.4% 44.6% 40.5% 38.9% 0 100 JUL 23 JUL 30 AUG 06 AUG 13 AUG 20 AUG 27 SEP 03 SEP 10 SEP 17 SEP 24 HOTEL SHORT-TERM RENTAL $402.85$416.55 $428.07 $412.58 $382.55 $376.89 $351.25 $348.02 $328.28 $336.75 $343.21 $743.92$737.00 $705.00 $638.67 $595.49 $536.50 $535.00 $486.00 $458.93 $459.00 $475.32 0 850 JUL 16 JUL 23 JUL 30 AUG 06 AUG 13 AUG 20 AUG 27 SEP 03 SEP 10 SEP 17 SEP 24 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $361.63$354.58 $320.19 $274.92 $255.53 $218.03 $213.93 $251.95 $266.87 $260.15 $419.00$394.00 $343.57 $309.25 $250.78 $248.40 $215.77 $198.65 $187.00 $185.23 0 400 800 AUG 13 AUG 20 JUL 23 AUG 06 JUL 30 SEP 03 SEP 10 SEP 17 SEP 24 AUG 27 HOTEL SHORT-TERM RENTAL
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTAL METRICS
NEWPORT BEACH SHORT-TERM RENTAL WEEKLY OCCUPANCY (2023 v 2022)
NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK (WEEKS OF SEPTEMBER 03 - SEPTEMBER 24, 2023)
NEWPORT BEACH SHORT-TERM RENTALS MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO
WEEKLY ADR REVPAR BY MONTH 47.0% 49.0% 44.3% 43.8% 39.8% 35.7% 36.9% 38.5% 41.6% 38.8% 57.0% 57.0% 53.8% 51.9% 46.7% 46.4% 44.4% 44.6% 40.5% 39.0% 0 90 AUG 27 SEP 03 JUL 23 SEP 17 SEP 24 AUG 20 AUG 13 AUG 06 JUL 30 SEP 10 2022 2023 $163.05 $165.88 $185.40 $252.52 $302.18 $196.77 $198.33 $220.18 $156.73 $190.65 $257.02 $261.72 $418.19 $185.43 $176.72 $188.93 $151.99 $205.36 $424.78 $304.06 100 150 250 300 350 400 450 MAR APR $233.43 $195.08 $220.88 MAY $347.86 $296.36 FEB JUN $137.18 JUL $266.55 $307.81 JAN AUG $238.19 SEP $186.77 $128.19 $123.80 OCT NOV DEC 2022 2023 2021 WEEKLY OCCUPANCY $577.36 $458.93 $472.89 $459.65 $486.62 $437.85 $445.96 $447.54 $441.77 $436.60 $434.47 $445.25 $430.24 $431.19 $432.76 $451.71 $459.51 $466.48 $458.03 $483.97 $484.34 $482.06 $475.72 $499.58 $485.27 $488.18 $473.15 $511.57 SEP 03 - SEP 09 SEP 10 - SEP 16 SEP 17 - SEP 23 SEP 24 - SEP 30
SOURCE: STR, KEY DATA DASHBOARD NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY ADR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY REVPAR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY OCCUPANCY OCTOBER 06, 2023, WEEKLY REPORT NEWPORT
& COMPANY
RENTALS
HOTELS METRICS MONTHLY 54.9% 65.7% 66.2% 67.6% 68.3% 74.0% 81.4% 72.2% 31.1% 38.4% 41.4% 44.2% 39.8% 47.7% 56.8% 50.6% 0 100 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL $297.60 $308.49 $323.83 $327.80 $321.16 $337.10 $408.73 $397.56 $394.19 $390.62 $468.00 $464.62 $750.17 0 850 FEB MAR APR $491.16 MAY $618.01 JUN JAN AUG SEP OCT NOV DEC $600.81 JUL HOTEL SHORT-TERM RENTAL MONTHLY OCCUPANCY RATE MONTHLY ADR $163.45 $202.61 $214.28 $221.63 $219.32 $249.49 $287.05 $122.70 $149.77 $192.38 $205.36 $195.23 $294.88 $425.89 0 450 FEB MAR APR MAY JUN $332.86 JAN AUG SEP OCT NOV DEC $304.06 JUL HOTEL SHORT-TERM RENTAL MONTHLY REVPAR
BEACH
SHORT-TERM
VS.
OCTOBER 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR AUGUST 2023
SAN DIEGO
SEPTEMBER – DECEMBER 2023
• 09/24 – 10/01: SAN DIEGO
RESTURANT WEEK
• 11/8 – 12: BAY WINE & FOOD FESTIVAL
LOS ANGELES
SEPTEMBER – DECEMBER 2023
• 9/22 – 10/31: HAUNTED HAYRIDE
• 10/01 – 12/31: MADE IN LA ACTS OF LIVING
• 9/7 – 10/31: UNIVERSAL STUDIOS
HALLOWEEN HORROR NIGHTS
HUNTINGTON BEACH
SEPTEMBER – DECEMBER 2023
• 10/31: HB DOWNTOWN SURF CITY
SPOOKTACULAR
SANTA BARBARA
SEPTEMBER – DECEMBER 2023
• 10/6 – 8: NATURAL TRACK FILM
FESTIVA;
• 10/04 – VINTNERS FESTIVAL
• 10/21: HARBOR & SEAFOOD
FESTIVAL
• 11/5: HALF MARATHON
LAGUNA BEACH
SEPTEMBER – DECEMBER 2023
• 7/5 – 9/1: FESTIVAL OF THE ARTS
• 7/7 – 9/1: PAGEANT OF THE MASTERS
(AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR AUGUST 2023) SOURCE: STR $397.56 $301.48 $220.46 $476.24 $345.46 $313.30 $793.16 $434.35 72.2% 74.2% 77.6% 69.2% 68.9% 76.3% 76.9% 48.3% 71.1% 81.9% 12 38 80 700 BEVERLY
$142.54 PALM SPRINGS ANAHEIM SANTA MONICA $215.17 70.7% SANTA BARBARA IRVINE $198.66 DANA POINT SAN DIEGO HUNTINGTON
NEWPORT BEACH LA JOLLA OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
HILLS
BEACH