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

AUGUST 19, 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 9-15, 2020)

ALL HOTELS (OPEN & CLOSED)

(JUNE 2020)

13.7%

42.6%

(JUNE 2020)

(AUGUST 9-15, 2020)

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

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

-28.1%

32.6%

(JUNE 2020 vs. JUNE 2019)

(AUGUST 9-15, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE ALL HOTELS

-47.1%

NEWPORT BEACH REAL ESTATE (JULY 2020)

(AUGUST 9-15) 2020 vs. 2019

NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

(JULY 2020 vs. JULY 2019)

(AUGUST 9-15, 2020)

INT’L VISA SPENDING IN NEWPORT BEACH

$286.35

CLOSED HOTELS: RENAISSANCE HOTEL NEWPORT BEACH FASHION ISLAND HOTEL

# OF HOTEL ROOMS OPEN FOR BOOKING:

2,612

# OF HOTEL ROOMS CLOSED:

-20.8%

(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 12-18, 2020)

YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-62.6%

-80.6%

(WEEK OF AUGUST 12-18) 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 12-18, 2020)

-80.2%

53%

34%

AUGUST 19, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

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

OCCUPANCY RATE (%)

95 76.9%

85 75

84.0%

83.9%

FATHER’S DAY

55 35 25

77.1%

88.8%

85.2%

80.4%

65.6%

65 45

82.2%

90.9%

88.2%

83.1%

32.5%

30.9%

30-MAY

6-JUN

42.6%

37.4%

13-JUN

4TH OF JULY WEEKEND

42.1%

20-JUN

39.9%

27-JUN

4-JUL

34.1%

34.7%

34.9%

11-JUL

18-JUL

25-JUL

THIS YEAR

40.7%

42.5%

42.6%

1-AUG

8-AUG

15-AUG

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF JULY 19–AUGUST 15, 2020)

DAILY OCCUPANCY RATE (%)

80.0%

70.0%

56.5%

55.1%

60.0%

45.7%

50.0% 40.0% 30.0%

59.0%

55.9%

32.1% 38.9% 31.3% 34.1% 30.9%

28.9% 26.0% 33.5% 29.3% 24.8%

73.6%

68.2%

37.0%

33.2%

37.4% 32.2% 33.9%

29.7% 37.4% 31.0% 32.6%

34.6%

20.0% 10.0% 0.0%

JULY 19-25, 2020

JULY 26-AUGUST 1, 2020 SUN

MON

TUE

AUGUST 2-8, 2020

WED

THU

FRI

AUGUST 9-15, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES 52%

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

EW N

$314

R PO

H C A BE

$218 N TO G N TI N U H

N SA

O G IE D

$407

A N A D

T IN PO

$112 IR

N VI

40%

$176

AVERAGE DAILY RATE ($) SOURCE:, AUGUST 19, 2020, STR.COM

25%

33%

$132

…

53%

47%

45%

43%

36%

LL JO

$261

A TA N SA

R BA

RA A

ER EV

$441

Y YL

LS IL H LM PA

OCCUPANCY RATE (%)

$135 R SP

S G IN

28%

32%

$84

$230

M EI H A N A

TA N SA

A IC N O M

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

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

AUGUST 19, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS ROOMS AVAILABLE FOR BOOKING (ROOMS SUPPLY)

% CHANGE ROOMS AVAILABLE

(PERCENT CHANGE 2020 vs. 2019)

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

AUG 9-15

-22.1%

0.0% -20.0% -22.1%

-40.0%

-22.1%

-60.0% -80.0%

-75.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE $365 $345 $325 $305 $285 $265 $245 $225

AVERAGE WEEKLY RATE ($)

(WEEKS OF MAY 30 – AUGUST 15, 2020)

$327

$333 $306

FATHER’S DAY

$276

$268

$274

$274 $276

$257

$252

30-MAY 6-JUN

$287

$268

$254 13-JUN 20-JUN 27-JUN

$319

$306

$318

$320 $327

$327

$328 $291

$286

$325 $286

4TH OF JULY HOLIDAY WEEKEND

4-JUL

11-JUL

THIS YEAR

18-JUL

25-JUL

1-AUG

8-AUG 15-AUG

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (JULY 19 – AUGUST 15, 2020)

$400 $360 AVERAGE DAILY RATE ($)

$350 $300

$320 $328 $295 $309 $343 $323 $297 $277 $318 $303 $325 $280 $315 $289 $293 $288 $302 $286 $291 $288 $273 $288 $283 $279 $281 $287 $274

$250 $200 $150 $100 $50 $0 G G G G G G G G G G G G G G G UL UL UL UL UL UL UL UL UL UL UL UL UL -J 0-J 1-J 2-J 3-J 4-J 5-J 6-J 7-J 8-J 9-J 0-J 1-J -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU 9 1 1 1 2 3 7 2 5 2 3 6 8 9 10 2 2 2 2 2 4 2 2 2 3 1 12 13 14 15

SOURCE:, AUGUST 19, 2020, STR.COM

AUGUST 19, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD CREDIT CARD SPENDING IN NEWPORT BEACH INT’L VISA CREDIT CARD SPENDING IN NEWPORT BEACH

U.S. VISA CREDIT CARD SPENDING IN NEWPORT BEACH

(2ND QUARTER 2020 vs. 2019)

$16,000,000

$350,000,000

$14,000,000

$13,809,783

INT’L VISA CREDIT CARD SPENDING IN NEWPORT BEACH BY CATEGORY (2ND QUARTER 2020 vs. 2019)

$4.0

$325,722,868

$3.5

$300,000,000

$3.0 $2.5

$12,000,000

$250,000,000

$2.0

$10,000,000

$1.5

$200,000,000

$1.0

$8,000,000

$142,280,805

$150,000,000 $6,000,000

$0.5 $0.0 G TS RE EL ES RY DS VE TS CS I I IN G AN CA AR OR CE OO OT AN O N D R TH PP ST RO G M UR R O U L T L A T L I G TO A C TA A EN D & ETA AU E ST LE ES HE E R R R TM OO E R F C A I V EP D ER -S K IC U Q

$100,000,000

$4,000,000

$2,768,760

$2,000,000

$50,000,000

Q2 2019

Q2 2020

Q2 2019

Q2 2020

Q2 2019

Q2 2020

U.S. VISA CREDIT CARD SPENDING BY METRO AREA SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)

(2ND QUARTER 2020 vs. 2019)

$15.0 $10.0

$9.8

$9.5 $4.1

$3.3

$5.0 $0.0

SAN FRANCISCO

SAN DIEGO

$5.7

$2.2

PHOENIX

$5.0

$2.2

LAS VEGAS

Q2 2019

$4.3

$1.5

NEW YORK CITY

$3.4

$0.9

SEATTLE

$2.7

$0.7

DENVER

$2.6

$0.8

SACRAMENTO

EXCLUDES LA, RIVERSIDE & ORANGE COUNITES

Q2 2020

INT’L VISA CREDIT CARD SPENDING BY COUNTRY SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)

(2ND QUARTER 2020 vs. 2019)

$5.0

$4.4

$4.0 $3.0 $2.0

$1.7

$1.0 $0.0

$2.2

$0.3 CHINA

CANADA

$0.8

$0.1

U.K.

$0.7

$0.0

SAUDI ARABIA

Q2 2019 SOURCE:, VISAVUE, VISA INTERNATIONAL

$0.5

$0.0

UNITED ARAB EMIRATES

Q2 2020

$0.5

$0.1

JAPAN

$0.4

$0.0

SOUTH KOREA

$0.4

$0.0

AUSTRALIA

AUGUST 19, 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 18-AUG

16-AUG

14-AUG

12-AUG

10-AUG

8-AUG

6-AUG

4-AUG

2-AUG

31-JUL

29-JUL

27-JUL

25-JUL

23-JUL

21-JUL

19-JUL

17-JUL

15-JUL

13-JUL

11-JUL

9-JUL

7-JUL

5-JUL

3-JUL

1-JUL

29-JUN

27-JUN

25-JUN

23-JUN

21-JUN

19-JUN

17-JUN

15-JUN

13-JUN

11-JUN

9-JUN

7-JUN

5-JUN

3-JUN

1-JUN

(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% 52%

60% 50%

44%

34%

40%

32%

30% 20%

28%

31%

28% 30%31% 27% 23%

29%

21%

19% 9%

10% 0%

50% 52%53% 53% 48%49%

LOS ANGELES RESTAURANTS

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

20% # OF MONTHLY PASSENGERS (YOY % CHANGE)

CALIFORNIA RESTAURANTS

0% -20%

-3%

-40% -60% -80%

-63%

-100%

5/27

6/3

6/10

6/17

CALIFORNIA

6/24

7/1

7/8

7/22 8/5 7/15 7/29 8/12

LOS ANGELES

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

-80%

JOHN WAYNE AIRPORT FEB

-54%

-55%

-91% -97%

-120% 0%

-4%

MAR

-87% -92% -96% LAX

APR

MAY

-92% -96% -98% LONG BEACH AIRPORT

JUNE

AUGUST 19, 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%

11.8%

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 $3.7 $3.5 $3.6 $3.5 $3.6 $3.6 $3.1 $3.4 $3.0 $3.2 $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 19, 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%