NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: SEPTEMBER 2, 2020 by Visit Newport Beach

SEPTEMBER 2, 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 23-29, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

42.5%

(JUNE/JULY 2020)

12.3%

(AUGUST 23-29, 2020)

(JULY 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

33.1%

-28.1%

(AUGUST 23-29, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-44.1%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$332.09

(AUGUST 23-29, 2020)

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (JULY 2020)

(AUGUST 23-29) 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 AUG 26 - SEP 1, 2020) YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-55.2%

-74.1%

(WEEK OF AUG 26 – SEP 1) 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 AUG 26 – SEP 1, 2020)

-74.7%

60%

41%

SEPTEMBER 2, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE WEEKLY OCCUPANCY RATE (%)

(2020 vs. 2019)

100 90

83.9%

84.0%

82.2%

77.1%

80 FATHER’S DAY

44.4%

38.9%

88.8%

85.2%

80.4%

82.2%

43.7%

76.1%

4TH OF JULY WEEKEND

60 50

90.9%

88.2%

83.1%

43.8%

41.5%

35.5%

36.2%

36.5%

11-JUL

18-JUL

25-JUL

43.7%

44.1%

44.5%

1-AUG

8-AUG

15-AUG

42.5%

30 13-JUN

20-JUN

27-JUN

4-JUL

THIS YEAR

22-AUG 29-AUG

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF AUGUST 2–AUGUST 29, 2020)

DAILY OCCUPANCY RATE (%)

80.0% 70.0%

37.0%

30.0%

67.5%

58.9%

34.6% 29.7% 37.4% 31.0% 32.6%

33.2% 37.4% 32.2% 33.9%

40.0%

70.0%

59.0%

55.9%

60.0% 50.0%

73.6%

68.2%

35.6%

55.2%

31.2%

37.3%

35.4% 29.7% 33.0%

32.3% 38.1% 32.2%34.8%

20.0% 10.0% 0.0%

AUGUST 2-8, 2020

AUGUST 9-15, 2020 SUN

MON

TUE

AUGUST 16-22, 2020

WED

THU

FRI

AUGUST 23-29, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES 52%

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

EW N

36%

$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:, SEPTEMBER 2, 2020, STR.COM

25%

33%

$132

…

53%

47%

45%

43%

LL JO

$261

A TA N SA

R BA

RA A

ER EV

$441

Y YL

LS IL H

OCCUPANCY RATE (%)

LM PA

$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%

SEPTEMBER 2, 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 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

AUG 16-29

-22.1%

0.0% -20.0% -22.1%

-40.0%

-22.1%

-60.0% -80.0%

-75.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE $385 $365 $345 $325 $305 $285 $265 $245 $225

AVERAGE WEEKLY RATE ($)

(WEEKS OF JUNE 13 – AUGUST 29, 2020) $342

$348

FATHER’S DAY

$335 $318

$299 $284

$283

$319

$276

$268

4TH OF JULY HOLIDAY WEEKEND

27-JUN

4-JUL

$254 13-JUN

20-JUN

$306

$318

$327

$332

$328

$325

$313

$303

$297

$299

$327 $295

$280

11-JUL

18-JUL

25-JUL

THIS YEAR

1-AUG

8-AUG

15-AUG

22-AUG 29-AUG

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (AUGUST 2 – AUGUST 29, 2020)

AVERAGE DAILY RATE ($)

$400

$347 $352 $351 $309 $340 $330 $350 $323 $327 $297 $277 $322 $329 $280 $291 $315 $288 $312 $302 $292 $289 $288 $283 $286 $297 $279 $273 $300 $285 $274 $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 G G G G G G AU AU AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU 7 2- 3- 45 6 9 10 8 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29

SOURCE:, SEPTEMBER 2, 2020, STR.COM

SEPTEMBER 2, 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

SEPTEMBER 2, 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 1-SEP

30-AUG

28-AUG

26-AUG

24-AUG

22-AUG

20-AUG

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

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

% CHANGE IN WEEKLY SEATED DINERS

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

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

60% 50% 40% 30% 20%

11%

20%

70% 60% 56% 53% 50% 52% 52% 54% 53%54% 48% 49% 44% 41% 38% 34% 32% 31% 28% 30% 31% 28% 29% 27% 23% 19% 21% 9%

10%

# OF MONTHLY PASSENGERS (YOY % CHANGE)

PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK

% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK

LOS ANGELES RESTAURANTS

0% -20%

-60% -80% -100%

0% 5/27

6/24 8/19 7/8 8/5 7/22 6/10 7/1 6/3 7/15 6/17 7/29 8/12 8/26

CALIFORNIA

LOS ANGELES

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

-4%

-40%

-120% 0%

-3%

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

SEPTEMBER 2, 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

SEPTEMBER 2, 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% 12.3%

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%