NOVEMBER 17, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
NEWPORT BEACH HOTELS (NOVEMBER 05 - NOVEMBER 11, 2023)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS)
71.6%
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ALL HOTELS (OPEN & CLOSED HOTELS)
71.5%
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
5.3%
ORANGE COUNTY UNEMPLOYMENT ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE
3.7%
(SEPTEMBER 2023)
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
+5.5%
2023 vs. 2022
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
(SEPTEMER 2023 vs. SEPTEMBER 2022)
$313.35
# OF HOTEL ROOMS OPEN FOR BOOKING:
TRANSPORTATION 2023 VS. 2022
2,977
NEWPORT BEACH SHORT-TERM VACATION RENTALS (NOVEMBER 05 - NOVEMBER 11, 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 OCTOBER 2023
660,569
OCTOBER 2022
1,177,725
NOVEMBER 17, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE SEPTEMBER 04, 2023 – OCTOBER 30, 2023
80 GASOLINE/GAL VS HOTEL OCCUPANCY RATE
70
0
$5.66
$5.25
$5.35
$3.92
$3.94
$4.00
76.7%
79.2%
$6.01
$5.80
$3.96
$3.93
75.8%
66.7%
61.5%
SEP 04
SEP 11
SEP 18
SEP 25
OCT 02
OCCUPANCY RATE
$5.70
$5.50
$3.81
$3.70
70.9%
74.9%
$5.33
$5.17
$5.05
$3.66
$3.60
$3.52 71.6%
69.2% 56.8%
OCT 09
OCT 16
NATIONAL GAS PRICE
OCT 23
OCT 30
NOV 06
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
NOVEMBER 17, 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
NOVEMBER 17, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS NOVEMBER 05 - NOVEMBER 11, 2023
Los Angeles CA
20.2%
San Diego CA
9.3%
VISITATION BY ORIGIN MARKET
Phoenix AZ
7.8%
Las Vegas NV
5.8%
San Francisco CA
4.4%
Sacramento CA
4.0%
West Palm Beach FL
3.9%
Dallas-Ft. Worth TX
2.5%
Salt Lake City UT
2.4%
New York NY
2.3%
% OF TOTAL VISITORS BY ORIGIN MARKET SOURCE: ZARTICO
VISITATION SPENDING BY CATEGORY
CATEGORY TYPE
NOVEMBER 05 - NOVEMBER 11, 2023
Retail
40.0%
Food
39.5%
Accommodations
5.3%
Gas & Service Stations
4.5%
Outdoor Recreation
3.1%
Transportation
2.8%
Nightlife
2.0%
Health
1.4%
Attractions
1.1%
Business & Professional
0.3%
SOURCE: ZARTICO
NOVEMBER 17, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: OCCUPANCY NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
WEEKLY OCCUPANCY
110
55
76.7%
79.2%
61.5% 78.4% 63.3%
76.0%
0
SEP 03
SEP 10
75.8%
SEP 17
67.2%
64.6%
66.7%
SEP 24
OCT 01 2022
70.9%
74.9%
76.0%
73.6%
OCT 08
OCT 15
71.6%
69.2%
56.8%
64.9%
61.3%
OCT 22
OCT 29
67.9%
NOV 05
2023
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK
52.1% 68.9% 78.4% 80.2% 78.9% 83.9% 81.8%
51.4% 60.6% 77.5% 79.4% 75.2% 71.5% 69.2%
43.8% 40.6% 41.5% 58.3% 63.6% 69.8% 79.8%
57.8% 68.3% 80.4% 76.0% 64.1% 75.8% 78.4%
(WEEK OF OCTOBER 15 – NOVEMBER 05, 2023) )
OCT 15 - OCT 21
OCT 22 - OCT 28
OCT 29 - NOV 04
NOV 05 - NOV 11
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
NOVEMBER 17, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: ADR
NEWPORT BEACH HOTELS WEEKLY ADR (2023 v 2022)
360
$346.64$345.14
340
$348.02 $328.28
WEEKLY ADR
320
$351.31
$346.89
$346.53
$332.29 $343.21
$336.75
$327.56
$329.25
$320.07
$324.04
OCT 08
OCT 15
$312.36 $319.05
280
$305.91 $304.66
$319.92 $313.35
260 240 220 200
SEP 03
SEP 10
SEP 17
SEP 24
OCT 01 2022
OCT 22
OCT 29
NOV 05
2023
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK
$296.66 $310.62 $329.59 $328.23 $335.13 $325.73 $330.94
$303.10 $334.30 $321.08 $329.25 $330.77 $303.21 $307.21
$267.07 $268.50 $321.77 $277.68 $303.73 $323.83 $338.41
$298.87 $316.06 $319.15 $304.59 $299.78 $323.13 $325.87
(WEEK OF OCTOBER 15 – NOVEMBER 05, 2023)
OCT 15 - OCT 21
OCT 22 - OCT 28
OCT 29 - NOV 04
NOV 05 - NOV 11
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
NOVEMBER 17, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR
NEWPORT BEACH HOTELS WEEKLY REVPAR (2023 v 2022)
$270.70
WEEKLY REVPAR
$219.26
$263.63
$251.95
$227.07
SEP 10
SEP 17
$226.99 $263.44
$219.50
$266.87
$213.93
SEP 03
$260.15 $223.31
SEP 24
$242.67
$224.22
$220.92
$241.05
$173.03
$202.62
OCT 01
OCT 08
2022
2023
OCT 15
$187.53
OCT 22
OCT 29
$217.32
NOV 05
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK
$154.53 $214.16 $258.23 $263.19 $264.52 $273.21 $270.81
$155.76 $202.72 $248.73 $261.29 $248.66 $216.83 $212.47
$116.86 $109.12 $133.52 $161.96 $193.24 $226.04 $270.01
$172.86 $216.00 $256.48 $231.53 $192.28 $245.03 $255.34
(WEEKS OF OCTOBER 15 - NOVEMBER 05, 2023)
OCT 15 - OCT 21
OCT 22 - OCT 28
OCT 29 - NOV 04
NOV 05 - NOV 11
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
NOVEMBER 17, 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 76.7%
79.2%
75.8%
61.5%
44.4%
0
SEP 03
44.6%
SEP 10
40.5%
SEP 17
66.7%
38.9%
42.4%
SEP 24
OCT 01 HOTEL
70.9%
74.9%
71.6%
69.2% 56.8%
47.0%
OCT 08
39.5%
OCT 15
34.0%
28.6%
31.1%
OCT 29
NOV 05
$444.63
$421.31
$433.75
OCT 22
SHORT-TERM RENTAL
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY ADR
WEEKLY ADR
850
$486.00$458.93
$459.00
$475.32
$507.00
$348.02$328.28
$336.75
$343.21
SEP 17
SEP 24
0
SEP 03
SEP 10
$498.01
$477.93
$329.24
$320.07
$324.04
$319.05
$304.66
$313.35
OCT 01
OCT 08
OCT 15
OCT 22
OCT 29
NOV 05
HOTEL
NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY REVPAR
400
WEEKLY REVPAR
$251.95 $215.77 $213.93$198.65
0
SHORT-TERM RENTAL
SEP 03
SEP 10
SOURCE: STR, KEY DATA DASHBOARD
$266.87
$260.15 $219.50
$187.00
SEP 17
$185.23
SEP 24
$215.00
$226.99
$242.67
$224.22
$220.92 $173.03
$234.00 $188.30
OCT 01 OCT 08 OCT 15 HOTEL SHORT-TERM RENTAL
$151.50
OCT 22
$121.43
$136.11
OCT 29
NOV 05
NOVEMBER 17, 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
44.4% 36.9%
0
SEP 03
44.6%
40.5%
38.5%
41.6%
SEP 10
SEP 17
47.0%
42.2%
39.0%
45.7%
38.8%
SEP 24
37.9%
43.1%
OCT 01
39.5%
OCT 08
2022
34.0% 34.7%
OCT 15
31.1% 36.1%
28.6% 29.8%
OCT 22
OCT 29
NOV 05
2023
NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK
OCT 15 - OCT 21
OCT 22 - OCT 28
OCT 29 - NOV 04
$453.83
$457.27
$445.20
$416.79
$407.99
$418.15
$436.92
$449.31
$445.15
$426.24
$409.21
$409.25
$392.16
$421.31
$451.00
$456.17
$443.88
$433.04
$434.37
$416.09
$461.39
$484.98
$495.57
$486.04
$460.49
$447.63
$457.34
$485.51
(WEEKS OF OCTOBER 15 - NOVEMBER 05, 2023)
NOV 05 - NOV 11
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
NOVEMBER 17, 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
NOVEMBER 17, 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
$653.26
420
• 11/01 – 02: DECEMBER NIGHTS • 12/19 – 01/01: SAN DIEGO INTERNATIONAL AUTO SHOW
15
0
ANAHEIM
SANTA MONICA
SANTA BARBARA
NOVEMBER – DECEMBER 2023
• 11/11: 78 YERS OF DIVING & DISCOVERY GALA • 11/23: THANKSGIVING EVENT
LOS ANGELES
NOVEMBER – DECEMBER 2023
• 10/01 – 12/31: MADE IN LA ACTS OF LIVING • 11/11 – 01/01: ASTRA LUMINA
20
5
SOURCE: STR
NOVEMBER – DECEMBER 2023
25
10
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
SAN DIEGO
30
LAGUNA BEACH
NOVEMBER – DECEMBER 2023
• 11/17 – 12/17: SAWDUST WINTER FANTASY • 11/23: THANKSGIVING TO GO 2023 – NIRVANA GRILLE