OCTOBER 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
NEWPORT BEACH HOTELS (OCTOBER 15 – OCTOBER 21, 2023)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS)
74.9%
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ALL HOTELS (OPEN & CLOSED HOTELS)
74.6%
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
1.8%
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
$324.04
# OF HOTEL ROOMS OPEN FOR BOOKING:
TRANSPORTATION 2023 VS. 2022
2,977
NEWPORT BEACH SHORT-TERM VACATION RENTALS (OCTOBER 15 – OCTOBER 21, 2023)
NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE
39.5%
NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE
$477.93
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 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY TRANSPORTATION METRICS GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE AUGUST 14, 2023 – OCTOBER 16, 2023
80 GASOLINE/GAL VS HOTEL OCCUPANCY RATE
70
0
$5.66
$5.80
$5.08
$5.20
$5.21
$5.25
$5.35
$3.96
$3.98
$3.93
$3.92
$3.94
$4.00
$3.96
76.7%
79.2%
75.8%
SEP 11
SEP 18
71.9%
AUG 14
67.8%
62.1%
61.5%
AUG 28
SEP 04
AUG 21
OCCUPANCY RATE
SEP 25
NATIONAL GAS PRICE
$6.01
$5.70
$3.93
66.7%
OCT 02
$5.50
$3.81
$3.70
70.9%
74.9%
OCT 09
OCT 16
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 27, 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 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS OCTOBER 15 – OCTOBER 21, 2023
Los Angeles CA
16.4%
San Diego CA
9.3%
VISITATION BY ORIGIN MARKET
San Francisco CA
9.0%
Sacramento CA
6.8%
Phoenix AZ
4.9%
Las Vegas NV
4.1%
Salt Lake City UT
4.0%
Fresno-Visalia CA
3.4%
Denver CO
3.0%
Seattle-Tacoma WA
2.9%
% OF TOTAL VISITORS BY ORIGIN MARKET SOURCE: ZARTICO
VISITATION SPENDING BY CATEGORY OCTOBER 15 – OCTOBER 21, 2023
51.6%
Retail 31.1%
Food 6.7%
CATEGORY TYPE
Accommodations Gas & Service Stations
3.5%
Transportation
2.5%
Nightlife
2.0%
Health
1.3%
Outdoor Recreation
0.6%
Attractions
0.6%
Business & Professional 0.2%
SOURCE: ZARTICO
OCTOBER 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: OCCUPANCY NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
110 WEEKLY OCCUPANCY
71.9% 67.8% 55
62.1%
66.3% 68.8%
0
AUG 13
AUG 20
61.5%
60.1%
63.3%
AUG 27
SEP 03
76.7%
79.2%
78.4%
76.0%
SEP 10 2022
75.8%
SEP 17
70.9%
74.9%
76.0%
73.6%
OCT 08
OCT 15
67.2%
64.6%
66.7%
SEP 24
OCT 01
2023
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK
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%
52.1% 68.9% 78.4% 80.2% 78.9% 83.9% 81.8%
(WEEK OF SEPTEMBER 24 – OCTOBER 15, 2023) )
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
OCT 15 - OCT 15
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 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: ADR NEWPORT BEACH HOTELS WEEKLY ADR
WEEKLY ADR
(2023 v 2022)
400
$396.60$388.67
350
$382.55$376.89
$373.05 $346.64 $351.25
$348.02
$345.14
$346.89
$351.31
$328.28
$336.75
$343.21
SEP 17
SEP 24
$332.29 $329.25
$346.53
$327.56
$320.07
$324.04
OCT 08
OCT 15
250 200
AUG 13
AUG 20
AUG 27
SEP 03
SEP 10 2022
OCT 01
2023
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK
$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
$296.66 $310.62 $329.59 $328.23 $335.13 $325.73 $330.94
(WEEK OF SEPTEMBER 24 – OCTOBER 15, 2023)
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
OCT 15 - OCT 21
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 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR NEWPORT BEACH HOTELS WEEKLY REVPAR (2023 v 2022)
$274.92
$224.38
$255.53
WEEKLY REVPAR
$263.09
$270.70
$267.43
AUG 13
AUG 20
$219.26
$218.03
$213.93
AUG 27
SEP 03
$263.63
$260.15 $219.50
$266.87
$251.95
SEP 10
SEP 17
2022
2023
$226.99 $263.44
$227.07
$223.31
SEP 24
OCT 01
OCT 08
$242.67 $241.05
OCT 15
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK
$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
$154.53 $214.16 $258.23 $263.19 $264.52 $273.21 $270.81
(WEEKS OF SEPTEMBER 24 - OCTOBER 15, 2023)
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
OCT 15 - OCT 21
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 27, 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 71.9%
51.9%
0
AUG 13
67.8%
76.7%
79.2%
75.8%
66.7%
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
HOTEL
70.9%
47.0%
74.9%
39.5%
OCT 08
OCT 15
SHORT-TERM RENTAL
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY ADR
WEEKLY ADR
850
$595.49 $536.50
$535.00
$382.55$376.89
0
AUG 13
AUG 20
$486.00
$458.93
$459.00
$475.32
$507.00
$498.01
$477.93
$351.25
$348.02
$328.28
$336.75
$343.21
$329.24
$320.07
$324.04
AUG 27
SEP 03
SEP 10
SEP 17
SEP 24
OCT 01
OCT 08
OCT 15
HOTEL
SHORT-TERM RENTAL
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY REVPAR
400
$309.25 WEEKLY REVPAR
$250.78 $274.92 $255.53
0
AUG 13
AUG 20
SOURCE: STR, KEY DATA DASHBOARD
$248.40
$215.77
$218.03
$213.93
AUG 27
SEP 03
$251.95
$198.65
$266.87
$260.15 $219.50
$187.00
$185.23
SEP 10 SEP 17 SEP 24 HOTEL SHORT-TERM RENTAL
$215.00
OCT 01
$226.99
$242.67
$234.00 $188.30
OCT 08
OCT 15
OCTOBER 27, 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
51.9% 43.8%
0
AUG 13
46.7%
46.4%
39.8%
AUG 20
44.6%
44.4%
35.7%
36.9%
38.5%
AUG 27
SEP 03
SEP 10
40.5%
39.0%
41.6%
38.8%
SEP 17
SEP 24
2022
47.0%
42.2%
37.9%
45.7%
43.1%
39.5%
OCT 01
OCT 08
OCT 15
2023
NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK
SEP 24 - SEP 30
OCT 01 - OCT 07
OCT 08 - OCT 14
$484.98
$495.57
$486.04
$460.49
$447.63
$457.34
$485.51
$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
(WEEKS OF SEPTEMBER 24 - OCTOBER 15, 2023)
OCT 15 - OCT 21
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 27, 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 27, 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