NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: AUGUST 26, 2020 by Visit Newport Beach

AUGUST 26, 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 16-22, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

42.0%

(JUNE 2020)

13.7%

(AUGUST 16-22, 2020)

(JUNE 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

38.2%

-28.1%

(AUGUST 16-22, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-48.9%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$296.89

(AUGUST 16-22, 2020)

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (JULY 2020)

(AUGUST 16-22) 2020 vs. 2019

CLOSED HOTELS: RENAISSANCE HOTEL NEWPORT BEACH

(JUNE 2020 vs. JUNE 2019)

# OF HOTEL ROOMS OPEN FOR BOOKING:

2,612

# OF HOTEL ROOMS CLOSED:

739

NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE

-20.8%

(JULY 2020 vs. JULY 2019)

INT’L VISA SPENDING IN NEWPORT BEACH (2ND QUARTER 2020 VS. 2019)

INTERNATIONAL CREDIT CARD SPENDING IN NEWPORT BEACH

-79.9%

(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) (JULY 2020)

CALIFORNIA & LA RESTAURANTS (WEEK OF AUGUST 19-25, 2020)

YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-61.3%

-78.1%

(WEEK OF AUGUST 19-25) 2020 vs. 2019

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

% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES

(JULY 2020 vs. JULY 2019)

(WEEK OF AUGUST 19-25, 2020)

-74.7%

54%

38%

AUGUST 26, 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 85

83.6%

76.9%

84.0%

55 35 25

77.1%

FATHER’S DAY

65 45

82.2%

30.9%

6-JUN

13-JUN

42.1%

20-JUN

88.8%

85.2%

80.4%

82.2%

4TH OF JULY WEEKEND

42.6%

37.4%

90.7%

88.2%

83.1%

69.9%

27-JUN

4-JUL

24.1%

34.7%

34.9%

11-JUL

18-JUL

25-JUL

THIS YEAR

40.1%

42.5%

42.6%

42.0%

1-AUG

8-AUG

15-AUG

22-AUG

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF JULY 26–AUGUST 22, 2020)

DAILY OCCUPANCY RATE (%)

80.0%

70.0%

56.5%

60.0% 50.0% 40.0% 30.0%

73.6%

68.2%

59.0%

55.9% 37.0%

33.2% 37.4% 32.2% 33.9%

38.9% 31.3% 32.1% 30.9% 34.1%

70.0% 58.9%

34.6% 29.7% 37.4% 31.0% 32.6%

35.6%

31.2% 35.4% 29.7% 33.0%

20.0% 10.0% 0.0%

JULY 26-AUGUST 1, 2020

AUGUST 2-8, 2020 SUN

MON

TUE

AUGUST 9-15, 2020

WED

THU

FRI

AUGUST 16-22, 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 26, 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 26, 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 (WEEKS OF JUNE 6 – AUGUST 22, 2020) 4TH OF JULY HOLIDAY WEEKEND

AVERAGE WEKLY RATE ($)

365

345

$327

325 $276

285

$287 $274

265 $257

$254

6-JUN

13-JUN

$319 $306

$274 $276

245 225

$306

FATHER’S DAY

305

20-JUN

$333

$318

$320 $327

$327 $286

$328 $291

$325 $286

$297 $299

$268

27-JUN

4-JUL

11-JUL

18-JUL

THIS YEAR

25-JUL

1-AUG

8-AUG

15-AUG

22-AUG

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (JULY 26 – AUGUST 22, 2020)

$309 $330$329 $323 $297 $277 $300 $280 $291 $315 $302 $288 $291 $292 $284$289 $293 $289 $288 $286 $283 $297 $286 $279 $300 $273 $285 $266 $274

AVERAGE DAILY RATE ($)

$350

$250 $200 $150 $100 $50 $0 G G G G G G G G G G G G G G G G G G G G G G UL UL UL UL UL UL -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 -AU -AU -AU -AU -AU -AU -AU 6 1 1 1 3 7 7 2 2 2 3 5 6 9 2 3 5 6 9 4 8 4 8 2 2 2 3 1 1 1 1 1 1 1 1 1 10 2 20 2

SOURCE:, AUGUST 26, 2020, STR.COM

AUGUST 26, 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 FROM EACH 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 FROM EACH 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 26, 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-AUG

23-AUG

21-AUG

19-AUG

17-AUG

15-AUG

13-AUG

11-AUG

9-AUG

7-AUG

5-AUG

3-AUG

1-AUG

30-JUL

28-JUL

26-JUL

24-JUL

22-JUL

20-JUL

18-JUL

16-JUL

14-JUL

12-JUL

10-JUL

8-JUL

6-JUL

4-JUL

2-JUL

30-JUN

28-JUN

26-JUN

24-JUN

22-JUN

20-JUN

18-JUN

16-JUN

14-JUN

12-JUN

10-JUN

8-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% 53% 53% 50% 52% 54% 52% 54% 48% 49% 44%

60% 50% 40% 30% 20%

38% 34% 32% 31% 28% 30% 31% 28% 29% 27% 23% 21% 19% 9%

10% 0%

LOS ANGELES RESTAURANTS

# OF MONTHLY AIRPORT PASSENGERS (% CHANGE 2020 vs. 2019) 0% -20%

LOS ANGELES

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

-4%

-60% -80% -100% -120%

CALIFORNIA

-3%

-40%

6/24 7/22 8/19 7/8 8/5 6/10 5/27 6/3 6/17 7/1 7/15 7/29 8/12

11%

20% # OF MONTHLY PASSENGERS (YOY % CHANGE)

CALIFORNIA RESTAURANTS

FEB

-75% -80% -91% -97%

JOHN WAYNE AIRPORT

MAR

-54%

-55%

-63%

APR

-82% -87% -92% -96% LAX

MAY

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

JUNE

JULY

AUGUST 26, 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% -10.0%

-4.0%

-5.6%

-15.0% -20.0%

-18.0%

-20.8%

-25.0% -25.3%

-30.0%

-26.9%

-30.7%

-35.0%

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

YOY % CHANGE IN AVERAGE # OF DAYS TO SELL

JAN 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0%

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

65.0%

38.5%

31.6%

11.8%

10.6%

-1.4% -15.1%

NEWPORT BEACH REAL ESTATE AVERAGE LIST PRICE

(YEAR-OVER-YEAR AVERAGE LIST PRICE 2020 vs. 2019) $4.5 AVERAGE LIST PRICE (IN MILLIONS $)

$4.0 $3.5

$3.6 $3.4

$3.0

$3.5 $3.0 $2.9

$3.2

$3.1 $2.8

$4.1

$3.5 $3.5

$3.6

$3.7 $3.2

$3.1

$3.2 $2.8

$2.5 $2.0 $1.5 $1.0 $0.5 $0.0

JAN

FEB

MARCH

APRIL

MAY

JUNE

2019 SOURCE: REAL ESTATE ADVERTISING SERVICE: MLS.COM

2020

JULY

AUG

SEPT

OCT

NOV

DEC

AUGUST 26, 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%

16.4%

15.0% 10.0% 5.0%

3.9%

2.9%

3.9%

13.8%

16.3%

14.5%

14.9% 13.7%

13.3%

5.5% 3.7%

2.8%

0.0%

JAN

FEB

MAR

APR

CALIFORNIA

MAY

JUN

JUL

ORANGE COUNTY

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

YOY PERCENT CHANGE (%)

JAN 10.0%

1.7%

2.1%

FEB 1.5%

MAR

APR

MAY

JUN

2.2%

0.0% -10.0%

-3.3%

-4.7%

-20.0% -30.0%

-28.1% -29.9%

-40.0% -50.0% CALIFORNIA

-45.3% -47.1% ORANGE COUNTY

SOURCE: U.S. BUREAU OF LABOR STATISTICS

-43.9%

-44.1%