OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
NEWPORT BEACH HOTELS (OCTOBER 08 – OCTOBER 14, 2023)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS)
70.9%
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ALL HOTELS (OPEN & CLOSED HOTELS)
70.6%
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
-6.7%
ORANGE COUNTY UNEMPLOYMENT ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE
3.6% (JULY 2023)
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
+5.9%
2023 vs. 2022
(JULY 2023 vs. JULY 2022)
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
$320.07
# OF HOTEL ROOMS OPEN FOR BOOKING:
TRANSPORTATION 2023 VS. 2022
2,977
NEWPORT BEACH SHORT-TERM VACATION RENTALS (OCTOBER 08 – OCTOBER 14, 2023)
NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE
47.0%
NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE
$498.01
SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET
ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS
JUNE 2023
1,059,277
JUNE 2022 +5.4%
1,001,249
US AUTO MARKET SALES BY MONTH SEPTEMBER 2023
1,334,470
SEPTEMBER 2022
1,084,352
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY TRANSPORTATION METRICS GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE AUGUST 07, 2023 – OCTOBER 09, 2023
80 GASOLINE/GAL VS HOTEL OCCUPANCY RATE
70
0
$5.66
$5.80
$5.00
$5.08
$5.20
$5.21
$5.25
$5.35
$3.94
$3.96
$3.98
$3.93
$3.92
$3.94
$4.00
$3.96
76.7%
79.2%
75.8%
SEP 11
SEP 18
77.6%
AUG 07
71.9%
67.8%
AUG 14
62.1%
61.5%
AUG 28
SEP 04
AUG 21
OCCUPANCY RATE
NATIONAL GAS PRICE
$6.01
$5.70
$3.93
$3.81
66.7%
SEP 25
OCT 02
70.9%
OCT 09
CALIFORNIA GAS PRICE
SOURCE: U.S. ENERGY INFORMATION DEPT., STR
ORANGE COUNTY/JOHN WAYNE AIRPORT (SNA) MONTHLY PASSENGER TRAFFIC (2023, 2022 & 2021)
992,569 881,049
944,544 841,593
PASSENGER COUNT
916,767
1,041,342
1,059,614 1,049,187
1,030,933 1,014,460
1,014,095 944,146
1,003,510 1,001,249 958,826
717,400
1,079,792
831,522
730,144
890,185
JUN
JUL
AUG
2023
2022
2021
783,737
873,422 854,393 847,671
585,735 495,592
360,402 195,290
JAN
SOURCE: OCAIR.COM
385,396 227,402
FEB
MAR
APR
MAY
SEP
OCT
NOV
DEC
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS RATE OF INFLATION BY MONTH
INFLATION RATE
YOY COMPARISON (2021 – 2023)
7.5% 6.4%
8.5%
7.9%
8.3%
2.6%
JAN
8.5%
8.3%
8.2%
7.7% 6.2%
6.0% 5.0%
1.4%
8.6%
9.1%
4.9%
5.0%
4.2%
4.0%
1.7%
FEB
MAR
APR
MAY
5.4%
5.4%
3.0%
3.2%
JUN
JUL
2021
2022
5.3%
5.4%
3.7%
3.7%
AUG
SEP
OCT
7.1% 6.8%
7.0% 6.5%
NOV
DEC
NOV
DEC
2023
SOURCE: U.S. INFLATION CALCULATOR
RATE OF INFLATION VS MONTHLY HOTEL OCCUPANCY RATE (%) JANUARY – DECEMBER 2023
INFLATION RATE VS OCCUPANCY RATE
6.4%
6.0% 5.0%
4.9% 4.0%
54.9%
JAN
65.7%
66.2%
67.6%
68.3%
FEB
MAR
APR
MAY
2023 INFLATION RATE SOURCE: U.S. INFLATION CALCULATOR, STR
3.0% 74.0%
JUN
3.7%
3.7%
72.2%
73.4%
AUG
SEP
3.2% 81.4%
JUL
2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%)
OCT
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS OCTOBER 08 – OCTOBER 14, 2023
VISITATION BY ORIGIN MARKET
Los Angeles CA
19.8%
San Diego CA
8.5%
Phoenix AZ
8.4%
San Francisco CA
6.7%
Sacramento CA
6.1%
Las Vegas NV
5.3%
Salt Lake City UT
3.2%
Palm Springs CA
2.7%
Fresno-Visalia CA
2.6%
Dallas-Ft. Worth TX
2.3%
% OF TOTAL VISITORS BY ORIGIN MARKET SOURCE: ZARTICO
VISITATION SPENDING BY CATEGORY OCTOBER 08 – OCTOBER 14, 2023
41.0%
Food
38.5%
Retail 9.4%
CATEGORY TYPE
Accommodations 3.6%
Transportation Attractions
2.4%
Gas & Service Stations
2.0%
Nightlife
1.3%
Outdoor Recreation
0.8%
Health
0.7%
Business & Professional
0.3%
SOURCE: ZARTICO
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: OCCUPANCY NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
110 WEEKLY OCCUPANCY
77.6% 55
71.9%
67.8% 68.8%
68.1% 66.3%
0
AUG 06
AUG 13
AUG 20
62.1%
61.5%
60.1%
63.3%
AUG 27
SEP 03 2022
76.7%
79.2%
78.4%
76.0%
SEP 10
SEP 17
75.8%
67.2%
64.6%
66.7%
SEP 24
OCT 01
70.9% 76.0%
OCT 08
2023
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK
54.9% 74.0% 78.9% 87.1% 84.6% 88.7% 86.4%
55.3% 68.9% 84.6% 80.0% 73.9% 80.5% 87.3%
49.1% 63.7% 69.5% 67.8% 62.7% 71.1% 82.8%
59.8% 67.2% 71.1% 75.5% 75.5% 73.4% 73.9%
(WEEK OF SEPTEMBER 17 – OCTOBER 08, 2023) )
SEP 17 - SEP 23
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
OCCUPANCY BY MONTH
NEWPORT BEACH HOTELS AVERAGE MONTHLY OCCUPANCY RATE
54.9% 37.5%
(YEAR-OVER-YEAR COMPARISON FOR 2023, 2022 & 2021) 81.4% 74.0% 73.4% 72.2% 70.1% 66.2% 68.3% 63.8% 67.6% 65.7% 73.5% 64.2% 60.2% 67.9% 71.6% 52.7% 62.9% 62.7% 61.7% 58.1% 38.6% 52.7% 47.7% 29.6%
59.8%
61.0%
56.6%
53.5%
51.5%
NOV
DEC
22.7% JAN
FEB
MAR
APR
MAY
JUN 2021
SOURCE: STR
68.4%
JUL 2022
AUG 2023
SEP
OCT
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: ADR NEWPORT BEACH HOTELS WEEKLY ADR (2023 v 2022)
450
WEEKLY ADR
400 350
$419.27 $396.60 $412.58 $382.55
$388.67
$373.05
$376.89
$351.25
$346.64 $348.02
$345.14
$346.89
$351.31
$328.28
$336.75
$343.21
SEP 10
SEP 17
SEP 24
$332.29
$346.53
$329.25
$320.07
OCT 01
OCT 08
250 200
AUG 06
AUG 13
AUG 20
AUG 27
SEP 03 2022
2023
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK
$301.14 $321.40 $342.57 $341.24 $331.24 $348.12 $356.43
$308.05 $313.83 $332.71 $333.31 $340.14 $374.89 $381.30
$313.78 $323.74 $331.61 $308.86 $316.12 $341.44 $356.82
$324.63 $319.43 $335.61 $314.36 $316.90 $317.68 $313.47
(WEEK OF SEPTEMBER 17 – OCTOBER 08, 2023)
SEP 17 - SEP 23
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
ADR BY MONTH
NEWPORT BEACH HOTELS AVERAGE MONTHLY ADR
(YEAR-OVER-YEAR COMPARISON FOR 2023, 2022 & 2021) $444.09 450 $407.58 $408.73 $397.56 $341.95 $379.47 400 $373.70 $330.92 $359.90 $403.73 $333.91 $328.49 $338.97 $323.83 $327.80 $320.66 $397.40 $306.70 $337.10 $321.16 $338.41 $308.50 $323.93 $334.66 300 $316.50 $303.37 $311.15 $297.65 $296.71 $287.16 250 $278.18 $255.16 $243.75 200 150
SOURCE: STR
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
2021
2022
2023
SEP
OCT
NOV
DEC
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR NEWPORT BEACH HOTELS WEEKLY REVPAR (2023 v 2022)
$320.19
WEEKLY REVPAR
$274.92 $285.48
AUG 06
$270.70
$267.43
$263.09
$255.53
AUG 13
AUG 20
$224.38
$219.26
$263.63
$251.95
$266.87
SEP 17
$218.03
$213.93
AUG 27
SEP 03
SEP 10
2022
2023
$260.15 $219.50 $227.07
$223.31
SEP 24
OCT 01
$226.99 $263.44
OCT 08
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK
$165.32 $237.92 $270.37 $297.39 $280.34 $308.87 $307.87
$170.44 $216.28 $281.51 $266.65 $251.34 $301.86 $332.98
$154.06 $206.11 $230.35 $209.36 $198.07 $242.92 $295.59
$194.08 $214.78 $238.46 $237.38 $239.30 $233.29 $231.64
(WEEKS OF SEPTEMBER 17 - OCTOBER 08, 2023)
SEP 17 - SEP 23
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
REVPAR BY MONTH
NEWPORT BEACH HOTELS AVERAGE MONTHLY REVPAR
(YEAR-OVER-YEAR COMPARISON FOR 2023, 2022 & 2021) $332.86 $287.05 $274.25 $326.26 $253.62 $249.49 $278.88 $254.02 $228.53 221.63 $219.32 202.61 214.28 $200.34 $188.93 $284.44 $248.99 $205.89 163.38 $206.54 $208.16 $199.62 $198.54 $181.29 $166.41 $174.69 $169.04 $141.42 $151.26 $114.90 $107.24 $75.46 $55.35 JAN
FEB
MAR
APR
MAY 2021
SOURCE: STR
JUN 2022
JUL
AUG 2023
SEP
OCT
NOV
DEC
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS
WEEKLY
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY OCCUPANCY
WEEKLY OCCUPANCY RATE
100 77.6%
53.8%
0
AUG 06
71.9%
51.9%
AUG 13
67.8%
76.7%
79.2%
75.8%
66.7%
70.9%
62.1%
61.5%
46.7%
46.4%
44.4%
44.6%
40.5%
38.9%
42.4%
AUG 20
AUG 27
SEP 03
SEP 10
SEP 17
SEP 24
OCT 01
OCT 08
HOTEL
47.0%
SHORT-TERM RENTAL
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY ADR 850
WEEKLY ADR
$638.67 $595.49
$412.58$382.55
0
AUG 06
AUG 13
$536.50
$535.00
$376.89
AUG 20
$486.00
$458.93
$459.00
$475.32
$507.00
$498.01
$351.25
$348.02
$328.28
$336.75
$343.21
$329.24
$320.07
AUG 27
SEP 03
SEP 10
SEP 17
SEP 24
OCT 01
OCT 08
$219.50
$226.99
HOTEL
400
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY REVPAR $343.57 $309.25
WEEKLY REVPAR
$320.19 $274.92
0
SHORT-TERM RENTAL
AUG 06
AUG 13
SOURCE: STR, KEY DATA DASHBOARD
$250.78 $255.53
AUG 20
$248.40 $218.03
AUG 27
$215.77 $213.93
$251.95
$198.65
$266.87
$260.15
$187.00
$185.23
SEP 03 SEP 10 SEP 17 HOTEL SHORT-TERM RENTAL
SEP 24
$215.00
OCT 01
$234.00
OCT 08
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTAL METRICS NEWPORT BEACH SHORT-TERM RENTAL WEEKLY OCCUPANCY (2023 v 2022)
WEEKLY ADR WEEKLY OCCUPANCY
90
57.0% 57.0%
53.8%
47.0% 49.0%
0
JUL 23
JUL 30
51.9%
46.7%
44.3%
43.8%
AUG 06
AUG 13
46.4%
39.8%
AUG 20
44.4%
44.6%
35.7%
36.9%
38.5%
AUG 27
SEP 03
SEP 10
2022
40.5%
39.0%
41.6%
38.8%
SEP 17
SEP 24
47.0%
42.2% 45.7%
43.1%
OCT 01
OCT 08
2023
NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK
SEP 17 - SEP 23
SEP 24 - SEP 30
OCT 01 - OCT 07
$492.93
$506.70
$502.02
$477.17
$481.41
$508.70
$516.08
$527.71
$520.15
$510.59
$496.49
$491.77
$481.45
$507.45
$511.57
$499.58
$483.97
$451.71
$445.25
$447.54
$459.65
$473.15
$475.72
$458.03
$432.76
$434.47
$445.96
$472.89
(WEEKS OF SEPTEMBER 17 - OCTOBER 08, 2023)
OCT 08 - OCT 14
NEWPORT BEACH SHORT-TERM RENTALS MONTHLY REVPAR (YEAR-OVER-YEAR COMPARISON FOR 2023, 2022 & 2021) $424.78 $418.19
450
REVPAR BY MONTH
400
$347.86
350
$190.65
300 250
$156.73 $151.99 $128.19
150
$123.80 100
JAN
$137.18 FEB
$304.06
$296.36 $257.02 $261.72 $233.43 $220.88 $205.36 $195.08
APR
MAY 2021
SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO
$307.81
$266.55
$252.52
$238.19 $186.77 $198.33
$220.18
$196.77 $185.43 $176.72 $188.93
$185.40
$163.05 $165.88 MAR
$302.18
JUN 2022
JUL 2023
AUG
SEP
OCT
NOV
DEC
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS
MONTHLY
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY OCCUPANCY
MONTHLY OCCUPANCY RATE
100
66.2%
67.6%
38.4%
41.4%
44.2%
FEB
MAR
APR
65.7% 54.9% 31.1%
0
JAN
74.0%
68.3%
47.7%
39.8%
81.4% 56.8%
72.2% 50.6%
MAY
JUN
JUL
AUG
HOTEL
SHORT-TERM RENTAL
73.4% 43.5%
SEP
OCT
NOV
DEC
OCT
NOV
DEC
OCT
NOV
DEC
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY ADR 850
$750.17
MONTHLY ADR
$618.01 $394.19 $390.62
$468.00 $464.62 $491.16
$479.61
$337.10 $297.60 $308.49 $323.83 $327.80 $321.16 0
JAN
FEB
$600.81
MAR
APR
MAY
JUN
HOTEL
$408.73 $397.56 $373.70
JUL
AUG
SEP
SHORT-TERM RENTAL
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY REVPAR $425.89
MONTHLY REVPAR
450
$304.06
$294.88 $163.45 $122.70 0
JAN
$202.61 $214.28 $221.63 $219.32 $149.77 FEB
$192.38 $205.36 $195.23
MAR
APR
$332.86 $249.49
MAY HOTEL
SOURCE: STR, KEY DATA DASHBOARD
JUN
JUL
$287.05 $208.82 $274.25
AUG
SHORT-TERM RENTAL
SEP
OCTOBER 20, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY COMPETITIVE CITY METRICS AND EVENTS NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR AUGUST 2023 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR AUGUST 2023)
660 650 640
73.4%
630 620
71.4%
77.5%
610
78.4% 69.1%
600
77.8%
75.5%
68.5%
74.9%
80
75
590 70
580 570
56.5%
560 550 540 530 520 510 500
56.7%
65
60
490 480 470 460
55
450 440 430
380 370 360 350 340
240 230 220 210 200 190 180 170 160 150 140 130 120 110 100 90 80 70 60 50 40 30 20 10
$299.86
250
$209.96
270 260
$290.39
280
$373.70
290
$308.55
300
$184.92
310
$459.61
330 320
0
NEWPORT HUNTINGTON BEACH BEACH
SAN DIEGO
DANA POINT
IRVINE
LA JOLLA
SANTA BARBARA
50
45
40
35
BEVERLY HILLS PALM SPRINGS
$367.02
390
$227.45
400
$170.58
410
$653.26
420
• 09/24 – 10/01: SAN DIEGO RESTURANT WEEK • 11/8 – 12: BAY WINE & FOOD FESTIVAL LOS ANGELES
SEPTEMBER – DECEMBER 2023
• 9/22 – 10/31: HAUNTED HAYRIDE • 10/01 – 12/31: MADE IN LA ACTS OF LIVING • 9/7 – 10/31: UNIVERSAL STUDIOS HALLOWEEN HORROR NIGHTS HUNTINGTON BEACH
SEPTEMBER – DECEMBER 2023
• 10/31: HB DOWNTOWN SURF CITY SPOOKTACULAR
20
15
5
0
ANAHEIM
SANTA MONICA
SOURCE: STR
SEPTEMBER – DECEMBER 2023
25
10
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
SAN DIEGO
30
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