NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: AUGUST 12, 2020 by Visit Newport Beach

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

EXECUTIVE SUMMARY

NEWPORT BEACH HOTELS

ORANGE COUNTY UNEMPLOYMENT

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE

(AUGUST 2-8, 2020)

ALL HOTELS (OPEN & CLOSED)

(JUNE 2020)

13.7%

42.5%

(JUNE 2020)

(AUGUST 2-8, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS)

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

-28.1%

38.8%

(JUNE 2020 vs. JUNE 2019)

(AUGUST 2-8, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE ALL HOTELS

-61.2%

NEWPORT BEACH REAL ESTATE (JUNE 2020)

(AUGUST 2-8) 2020 vs. 2019

NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

(JUNE 2020 vs. JUNE 2019)

(AUGUST 2-8, 2020)

INT’L VISA SPENDING IN NEWPORT BEACH

$290.60

CLOSED HOTELS: RENAISSANCE HOTEL NEWPORT BEACH FASHION ISLAND HOTEL

# OF HOTEL ROOMS OPEN FOR BOOKING:

2,612

# OF HOTEL ROOMS CLOSED:

-26.4%

(2ND QUARTER 2020 VS. 2019)

INTERNATIONAL CREDIT CARD SPENDING IN NEWPORT BEACH

-79.9%

739

(2ND QUARTER 2020 VS. 2019)

HOTEL NOTES:

NEWPORT DUNES WATERFRONT RESORT AND SOME SMALL INNS & B&Bs, ARE NOT INCLUDED IN STR’S WEEKLY HOTEL REPORTS—ONLY MONTHLY REPORTS. NEWPORT BEACH & COMPANY IS WORKING ON SOLUTIONS TO ADD UNREPORTED HOTELS TO PROVIDE EVEN MORE PRECISE METRICS.

JOHN WAYNE AIRPORT (SNA) (JUNE 2020)

CALIFORNIA & LA RESTAURANTS (WEEK OF AUGUST 5-11, 2020)

YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-61.8%

-82.3%

(WEEK OF AUGUST 5-11) 2020 vs. 2019

ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS % CHANGE

% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES

(JUNE 2020 vs. JUNE 2019)

(WEEK OF AUGUST 5-11, 2020)

-80.2%

53%

31%

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2020 vs. 2019)

OCCUPANCY RATE (%)

100 90 80

76.9%

74.6% 65.6%

70 60 50 40 30

84.0%

83.9%

MEMORIAL DAY WEEKEND

24.6%

32.5%

82.2%

FATHER’S DAY

30.9%

90.9%

77.1%

34.1%

34.7%

34.9%

11-JUL

18-JUL

25-JUL

88.8%

4TH OF JULY WEEKEND

42.6%

37.4%

88.2%

83.1%

42.1%

39.9%

27-JUN

4-JUL

85.2%

40.7%

42.5%

1-AUG

8-AUG

20 23-MAY 30-MAY

6-JUN

13-JUN

20-JUN

THIS YEAR

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK DAILY OCCUPANCY RATE (%)

(WEEKS OF JULY 12–AUGUST 8, 2020)

70.0%

70.0% 52.5%

60.0% 50.0% 40.0%

45.7%

30.7% 27.0% 32.1% 28.6% 27.6%

30.0%

56.5%

55.1%

43.3%

55.9%

32.1% 38.9% 31.3% 30.9% 34.1%

33.5%

26.0% 29.3% 24.8%

28.9%

68.2%

37.0%

33.2% 37.4% 32.2% 33.9%

20.0% 10.0% 0.0% JULY 12-18, 2020

JULY 19-25, 2020

SUN

MON

JULY 26-AUG 1, 2020

TUE

WED

THU

FRI

AUG 2-8, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES 49%

$500 $400 $300 $200 $100 $0

EW N

35%

$286

R PO

H C A BE

$189 N TO G N TI N U H

… N SA

36%

39%

$111

$319

O G IE D

A N A D

T IN PO

34%

29% $116 IR

N VI

34%

$157

E LA

AVERAGE DAILY RATE ($) SOURCE:, AUGUST 12, 2020, STR.COM

22%

48%

LL JO

$216

A TA N SA

R BA

RA A

ER EV

$444

Y YL

LS IL H LM PA

$128 R SP

S G IN

OCCUPANCY RATE (%)

26% $80 M EI H A N A

TA N SA

32%

$188 A IC N O M

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

(MONTHLY AVERAGE DAILY RATE & OCCUPANCY RATE FOR JUNE 2020) 60% 50% 40% 30% 20% 10% 0%

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS ROOMS AVAILABLE FOR BOOKING (SUPPLY)

% CHANGE ROOMS AVAILABLE

(PERCENT CHANGE 2020 vs. 2019)

MAY 31JUNE 6

JUNE 7-13 JUNE 14-20 JUNE 21-27

JUNE 28JULY 4

JULY 5-11

-22.1%

JULY 12-18 JULY 19-25

JULY 26AUG 1

AUG 2-8

-22.1%

0.0% -20.0% -22.1%

-40.0%

-22.1%

-60.0% -80.0%

-75.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF MAY 23 – AUGUST 8, 2020)

$355 $335 $315 $295

$327

MEMORIAL DAY WEEKEND

$280

$275

FATHER’S DAY

$268

$276

$274

$333

$320 $306

$287

$319 $306

$318

$327

$327 $290

$328 $291

25-JUL

1-AUG

8-AUG

4 OF JULY HOLIDAY WEEKEND TH

$276

$255 $235

$241

$215

$252

23-MAY 30-MAY

$257

$254

6-JUN

13-JUN

20-JUN

$268

27-JUN

4-JUL

THIS YEAR

11-JUL

18-JUL

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (JULY 12 – AUGUST 8, 2020)

$360

AVERAGE DAILY RATE ($)

$400

$307 $312 $304 $350 $321 $309 $305 $294 $300

$320 $328 $295 $343 $297 $280 $323 $318 $303 $325 $315 $277 $286 $291$293$288$289 $283 $279 $281

$250 $200 $150 $100 $50 $0

g g g g g g g g ul ul ul ul l2 ul u l ul ul ul u l u l ul u l ul ul ul ul ul ul -J -J -J -J Ju -J -J -J -J -J -J -J -J -J -J -J -J -J -J -J Au Au Au Au Au Au Au Au 12 13 14 15 15- 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 1- 2- 3- 4- 5- 6- 7- 8-

SOURCE:, AUGUST 12, 2020, STR.COM

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD CREDIT CARD SPENDING IN NEWPORT BEACH INTERNATIONAL VISA CREDIT CARD SPENDING IN NEWPORT BEACH

INTERNATIONAL VISA CREDIT CARD SPENDING IN NEWPORT BEACH BY SERVICE CATEGORY

(2ND QUARTER 2020 vs. 2019)

SPENDING IN MILLIONS USD (D)

INTâ&#x20AC;&#x2122;L CREDIT CARD SPENDING IN USD ($)

$16,000,000 $13,809,783

$14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000

$4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0 D LO

$2,768,760

G N GI A ST E R

S NT

CA TH L EA H

$2,000,000 $0 Q2 2019

Q2 2020

E S S S TS RY V D IC RE TI N CE AN O OO O O T O R G M S R U L TR O A T G AI TA & EC UT T S EN L A D E M RE RE O E RT FO C A I V EP D ER S CK UI Q

AR PP

Q2 2019

Q2 2020

INTERNATIONAL VISA CREDIT CARD SPENDING BY COUNTRY SPENT IN NEWPORT BEACH (2ND QUARTER 2020 vs. 2019)

SPENDING IN MILLIONS USD ($)

$5.0 $4.5 $4.0 $3.5 $3.0 $2.5 $2.0 $1.5 $1.0 $0.5 $0.0

$4.4

$2.2 $1.7 $0.8 $0.3 CHINA

CANADA

$0.1 U.K.

$0.7 $0.0 SAUDI ARABIA

Q2 2019

SOURCE:, VISAVUE, VISA INTERNATIONAL

$0.5 $0.0

$0.5 $0.1

$0.4 $0.0

UNITED ARAB EMIRATES

JAPAN

SOUTH KOREA

AUSTRALIA

Q2 2020

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

RESTAURANT & AIRPORT METRICS CALIFORNIA & LA DAILY SEATED DINERS FROM ONLINE, PHONE OR WALK-IN

25-MAY 27-MAY 29-MAY 31-MAY 2-JUN 4-JUN 6-JUN 8-JUN 10-JUN 12-JUN 14-JUN 16-JUN 18-JUN 20-JUN 22-JUN 24-JUN 26-JUN 28-JUN 30-JUN 2-JUL 4-JUL 6-JUL 8-JUL 10-JUL 12-JUL 14-JUL 16-JUL 18-JUL 20-JUL 22-JUL 24-JUL 26-JUL 28-JUL 30-JUL 1-AUG 3-AUG 5-AUG 7-AUG 9-AUG 11-AUG

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

% CHANGE IN WEEKLY SEATED DINERS

-10 -20 -30 -40 -50 -60 -70 -80 -90 -100

PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK

% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK 56%54% 53% 49% 52% 52% 50% 48% 44%

60% 50% 40%

31% 31%29% 30% 28% 28% 27% 23% 21%

32%

30% 19%

20% 10% 6%

0% 0% 0%5/27 5/20

6/3

LOS ANGELES RESTAURANTS

MONTHLY AIRPORT PASSENGERS (% CHANGE 2020 vs. 2019) 11%

20% # OF MONTHLY PASSENGERS (YOY % CHANGE)

CALIFORNIA RESTAURANTS

N/A

0% -20%

-3%

-40% -60% -80%

-63%

-100%

6/10

CALIFORNIA

6/17

7/1

7/8

7/22 8/5 7/15 7/29

LOS ANGELES

SOURCE:, OPENTABLE AND SNA/JWA, LAX & LGB AIRPORTS

-80%

JOHN WAYNE AIRPORT FEB

-54%

-55%

-91% -97%

-120% 6/24

-4%

MAR

-87% -92% -96% LAX

APR

MAY

-96% -98% LONG BEACH AIRPORT

JUNE

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

REAL ESTATE METRICS

NEWPORT BEACH TOTAL NUMBER OF ACTIVE REAL ESTATE LISTINGS (YEAR-OVER-YEAR PERCENT CHANGE 2020 vs. 2019)

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DE C

YOY % CHANGE IN ACTIVE LISTINGS

0.0% -5.0%

-4.0% -5.6%

-10.0% -15.0% -20.0%

-18.0%

-25.0%

-20.8%

-30.0% -30.7%

-35.0%

-25.3% -26.9%

NEWPORT BEACH REAL ESTATE LISTINGS AVERAGE NUMBER OF DAYS TO SELL (YEAR-OVER-YEAR PERCENT CHANGE 2020 vs. 2019) JAN YOY % CHANGE IN AVERAGE # OF DAYS TO SELL

80.0%

FEB

MAR

APR

MAY

JUL

AUG

SEP

OCT

NOV

DEC

65.0%

60.0% 40.0%

JUN

38.5%

31.6%

14.7%

10.6%

20.0% 0.0% -20.0%

-1.4%

-15.1%

NEWPORT BEACH REAL ESTATE AVERAGE LIST PRICE

(YEAR-OVER-YEAR AVERAGE LIST PRICE 2020 vs. 2019)

AVERAGE LIST PRICE (IN MILLIONS $)

$5.0 $4.0 $3.0

$3.5 $3.5 $3.6 $3.6 $3.6 $3.7 $3.1 $3.4 $3.0 $3.2 $3.5 $3.1 $3.1 $2.8 $2.9

$4.1 $3.2

$2.8

$3.2

$2.0 $1.0 $0.0 Jan

Feb

March April

May 2019

SOURCE: REAL ESTATE ADVERTISING SERVICE: MLS.COM

June

July

2020

Aug

Sept

Oct

Nov

Dec

AUGUST 12, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

UNEMPLOYMENT METRICS

2020 ORANGE COUNTY UNEMPLOYMENT RATE BY MONTH PERCENTAGE RATE (%)

(CALIFORNIA vs. ORANGE COUNTY)

20.0% 10.0%

3.9%

2.9%

3.9% 2.8%

5.5% 3.7%

FEB

MAR

16.4% 13.8%

16.3% 14.5%

14.9%13.7%

APR

MAY

JUN

0.0% JAN

CALIFORNIA

ORANGE COUNTY

2020 ORANGE COUNTY MONTHLY NUMBER OF LEISURE & HOSPITALITY EMPLOYEES PERCENT CHANGE (CALIFORNIA vs. ORANGE COUNTY)

YOY PERCENT CHANGE (%)

JAN 20.0% 0.0%

1.7% 2.1%

FEB

MAR

APR

MAY

JUN

1.5% 2.2% -3.3% -4.7%

-20.0%

-28.1%

-40.0% -44.1% -45.3% -43.9% -47.1%

-60.0% CALIFORNIA

ORANGE COUNTY

SOURCE: U.S. BUREAU OF LABOR STATISTICS

-29.9%