NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: SEPTEMBER 16, 2020 by Visit Newport Beach

SEPTEMBER 16, 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

(SEPTEMBER 6-12, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

47.3%

(JULY 2020)

12.3%

(SEPTEMBER 6-12, 2020)

(JULY 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

36.9%

-32.9%

(SEPTEMBER 6-12, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-44.1%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$299.75

(SEPTEMBER 6-12, 2020)

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (JULY 2020)

(SEPTEMBER 6-12) 2020 vs. 2019

CLOSED HOTELS: RENAISSANCE HOTEL NEWPORT BEACH

(JULY 2020 vs. JULY 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 9-15, 2020) YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-53.9%

-74.5%

(WEEK OF SEPTEMBER 9-15) 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 9-15, 2020)

-74.7%

60%

38%

SEPTEMBER 16, 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

82.2%

80 70

88.8%

85.2%

82.2%

80.4%

78.3 %

76.1%

71.1%

4TH OF JULY WEEKEND

60 50

83.1%

77.1%

90.9%

88.2%

43.8%

41.5%

LABOR DAY WEEKEND

35.5%

36.2%

36.5%

11-JUL

18-JUL

25-JUL

43.8%

44.1%

44.5%

1-AUG

8-AUG

15-AUG

43.7%

47.3 %

44.5%

42.5%

30 27-JUN

4-JUL

THIS YEAR

22-AUG 29-AUG

5-SEP

12-SEP

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF AUGUST 16–SEPTEMBER 12, 2020) 79.7%

DAILY OCCUPANCY RATE (%)

80.0%

70.0%

58.9%

60.0% 50.0% 40.0%

67.5%

32.3% 38.1% 32.2% 34.8%

37.3%

31.2% 35.4% 29.7% 33.0%

30.0%

69.1%

65.0%

55.2%

35.6%

76.9%

34.1%

31.7% 40.6%

27.3%

55.4%

LABOR DAY WEEKEND

29.3% 34.3% 34.8% 31.3%

33.3%

20.0% 10.0% 0.0%

AUGUST 16-22, 2020

AUGUST 23-29, 2020 SUN

MON

TUE

AUGUST 30-SEPT 5, 2020

WED

THU

FRI

SEPTEMBER 6-12, 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 16, 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 16, 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 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

SEP 6-12

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF JUNE 27 – SEPTEMBER 12, 2020)

$385 $365

AVERAGE WEEKLY RATE ($)

$342

$348

$345

$335 $318

$325

$299

$305

$319

$285 $265 $268

$245

$306

$318

$327

$328

$325

$332

$300

$327 $295

4TH OF JULY WEEKEND

$303

$297

$325

$313

LABOR DAY WEEKEND

$299 $280

$252

$225 27-JUN

4-JUL

11-JUL

18-JUL

25-JUL

1-AUG

8-AUG

THIS YEAR

15-AUG

22-AUG 29-AUG

5-SEP

$258 12-SEP

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (AUGUST 16 – SEPTEMBER 12, 2020)

$345 $347 $338 $352 $351 $320 $335 $326 $340 $314 $330 $338 $350 $327 $322 $303 $298 $329 $291 $309 $312 $299 $302 $292 $289 $286 $286 $299 $300 $285

AVERAGE DAILY RATE ($)

$400

$250 $200 $150

LABOR DAY WEEKEND

$100 $50 $0 G G G G G G G G G G G G G G G G EP EP EP EP EP EP EP EP EP EP EP EP 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 6-S 7-S 8-S 9-S -S 1-S 2-S 4 1 1 10 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 16

SOURCE: SEPTEMBER 16 2020, STR.COM

SEPTEMBER 16 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 16, 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 15-SEP

13-SEP

11-SEP

9-SEP

7-SEP

5-SEP

3-SEP

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

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

% CHANGE IN WEEKLY SEATED DINERS

-10 LABOR DAY WEEKEND

-20 -30 -40 -50 -60

4TH OF JULY WEEKEND

-70 -80 -90 -100 CALIFORNIA RESTAURANTS

70% 60% 50% 40% 30%

(% CHANGE 2020 vs. 2019) 11%

20% 61% 60% 60% 52% 56% 53% 53% 54% 54% 52% 49% 50% 48% 44% 38% 41% 39% 38% 34% 30% 31% 31% 29% 28% 27%28% LABOR DAY 23% WEEKEND 21%

20% 10%

# OF MONTHLY AIRPORT PASSENGERS

4TH OF JULY WEEKEND

9/2 6/24 8/19 7/8 8/5 7/22 6/10 7/1 9/12 7/15 6/17 7/29 8/12 8/26 CALIFORNIA LOS ANGELES

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

# 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%

-3%

-4%

-40% -60% -80% -100% -120%

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 16, 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 16, 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 CALIFORNIA

APR

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

MAR

APR

MAY

JUN

JULY

-29.8% -30.7%

-30.5% -32.9%

1.5% 2.2%

0.0% -10.0%

-3.3% -4.7%

-20.0% -30.0% -40.0% -50.0%

-46.4% -45.3% -47.1% -44.3% CALIFORNIA ORANGE COUNTY

SOURCE: U.S. BUREAU OF LABOR STATISTICS