NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: SEPTEMBER 10, 2020 by Visit Newport Beach

SEPTEMBER 10, 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 30–SEPTEMBER 5, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

44.5%

(JUNE/JULY 2020)

12.3%

(AUGUST 30-SEPTEMBER 5, 2020)

(JULY 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

31.6%

-28.1%

(AUGUST 30-SEPTEMBER 5, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-44.1%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$324.88

(AUGUST 30-SEPTEMBER 5, 2020)

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (JULY 2020)

(AUGUST 30-SEPTEMBER 5) 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 SEPTEMBER 2-8, 2020) YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-43.1%

-69.9%

(WEEK OF SEPTEMBER 2-8) 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 SEPTEMBER 2-8, 2020)

-74.7%

61%

40%

SEPTEMBER 10, 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 80 70 60 50 40 30 20 10

84.0%

82.2%

FATHER’S DAY

77.1%

88.8%

85.2%

82.2%

80.4%

76.1%

71.1%

4TH OF JULY WEEKEND

44.4%

43.8%

20-JUN

90.9%

86.2%

83.1%

41.5%

27-JUN

4-JUL

35.5%

36.2%

36.5%

11-JUL

18-JUL

25-JUL

43.8%

44.1%

44.5%

1-AUG

8-AUG

15-AUG

THIS YEAR

43.7%

44.5%

42.5%

22-AUG 29-AUG

5-SEP

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF AUGUST 9–SEPTEMBER 5, 2020)

DAILY OCCUPANCY RATE (%)

80.0% 70.0%

70.0%

59.0%

60.0%

37.3%

31.2% 35.4% 33.0% 29.7%

37.4% 29.7% 31.0% 32.6%

65.0%

55.2%

35.6%

34.6%

30.0%

67.5%

58.9%

50.0% 40.0%

79.7%

73.6%

32.3%

38.1% 32.2% 34.8%

34.1%

31.7% 27.3%

40.6%

33.3%

20.0% 10.0% 0.0%

AUGUST 9-15, 2020

AUGUST 16-22, 2020 SUN

MON

TUE

AUGUST 23-29, 2020

WED

THU

FRI

AUGUST 30-SEPT 5, 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 I T 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 10, 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 10, 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)

0.0% -5.0% -10.0% -15.0% -20.0% -25.0%

JUNE 21-27

JUNE 28JULY 4

JULY 5-11

-22.1%

JULY 12-18 JULY 19-25

-22.1%

JULY 26AUG 1

AUG 2-8

AUG 9-15

AUG 16-29

AUG 30 SEP 5

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF JUNE 20 – SEPTEMBER 5, 2020)

AVERAGE WEEKLY RATE ($)

$385 $365 $345 $325 $305

$342 FATHER’S DAY

$245

$335 $318

$299 $283

$319

$276

4TH OF JULY HOLIDAY WEEKEND

$285 $265

$348

$268

$306

$318

$327

$328

$325

$303

$297

$332 $313

$325

$327 $295

$299 $280 $252

$225 20-JUN

27-JUN

4-JUL

11-JUL

18-JUL

25-JUL THIS YEAR

1-AUG

8-AUG

15-AUG

22-AUG 29-AUG

5-SEP

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (AUGUST 9 – SEPTEMBER 5, 2020)

$345 $347 $338 $352 $351 $320 $309 $335 $340 $314 $330 $338 $350 $327 $322 $329 $291 $309 $312 $288 $302 $292 $288 $286 $297 $273$289 $300 $285 $274 $250

AVERAGE DAILY RATE ($)

$400

$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 EP EP EP EP EP AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU -AU 1-S 2-S 3-S -S 5-S 4 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31

SOURCE:, SEPTEMBER 10 2020, STR.COM

SEPTEMBER 10, 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 10, 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 8-SEP

6-SEP

4-SEP

2-SEP

31-AUG

29-AUG

27-AUG

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

(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

70% 60% 50% 40% 30% 20% 10% 0%

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

20% 61% 60% 56% 53% 50% 52% 54% 52% 53% 54% 48% 49% 44% 41% 38% 40% 34% 32% 31% 28% 30% 31% 28% 29% 27% 23% 21% 9%

# 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%

9/2 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

LOS ANGELES

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

-4%

-40%

-120%

CALIFORNIA

-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 10, 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 10, 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%