NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: SEPTEMBER 30, 2020 by Visit Newport Beach

SEPTEMBER 30, 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 20-26, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

42.3%

(JULY 2020)

12.3%

(SEPTEMBER 20-26, 2020)

(JULY 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

32.9%

-32.9%

(SEPTEMBER 20-26, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-46.6%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$288

(SEPTEMBER 20-26, 2020)

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (JULY 2020)

(SEPTEMBER 20-26) 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) (AUGUST 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

(AUGUST 2020 vs. AUGUST 2019)

(WEEK OF SEPTEMBER 9-15, 2020)

-71.7%

60%

38%

SEPTEMBER 30, 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

90.9%

88.2%

83.1%

88.8%

85.2%

82.2%

80.4%

LABOR DAY WEEKEND

60 40

35.5%

36.2%

36.5%

11-JUL

18-JUL

25-JUL

43.7%

44.1%

44.5%

1-AUG

8-AUG

15-AUG

43.4%

79.2%

71.1%

70 50

83.4%

78.3%

76.1%

44.5%

42.5%

47.6%

42.5%

42.3 %

19-SEP

26-SEP

30 22-AUG 29-AUG

THIS YEAR

5-SEP

12-SEP

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF AUGUST 30–SEPTEMBER 26, 2020) 79.7%

DAILY OCCUPANCY RATE (%)

80.0%

60.0% 50.0%

40.6% 31.7% 33.3% 27.3%

34.1%

30.0%

58.6%

58.4%

55.4%

LABOR DAY WEEKEND

71.3%

70.9%

69.1%

65.0%

70.0%

40.0%

76.9%

32.5% 36.9% 33.8% 30.6%34.0%

29.3% 34.3% 34.8% 31.3%

34.8%

31.0% 37.6%

30.2%32.2%

20.0% 10.0% 0.0%

AUGUST 30-SEPT 5, 2020

SEPTEMBER 6-12, 2020 SUN

MON

TUE

SEPTEMBER 13-19, 2020

WED

THU

FRI

SEPTEMBER 20-26, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES

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

EW N

44%

$311

R PO

H C A BE

56%

45%

$210 N TO G N I T N U H

56% 41%

$132

… N SA

O G IE D

$407

A N A D

T IN PO

$113 IR

N VI

AVERAGE DAILY RATE ($) SOURCE: SEPTEMBER 30, 2020, STR.COM

41%

$208

E LA

LL JO

$280

A TA N SA

28%

65%

52%

R BA

RA A

ER EV

$462

Y YL

LS IL H

OCCUPANCY RATE (%)

LM PA

$133 R SP

S G IN

29% $84 M EI H A N A

TA N SA

42%

$236 A IC N O M

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

(MONTHLY AVERAGE DAILY RATE & OCCUPANCY RATE FOR AUGUST 2020)

80% 60% 40% 20% 0%

SEPTEMBER 30, 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)

JULY 12-18 JULY 19-25 0.0% -5.0% -10.0% -15.0% -20.0% -25.0%

-22.1%

JULY 26AUG 1

AUG 2-8

-22.1%

AUG 9-15 AUG 16-29

-22.1%

AUG 30 SEP 5

SEP 6-12

-22.1%

SEP 13-19 SEP 20-26

-22.1%

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

AVERAGE WEEKLY RATE ($)

(WEEKS OF JULY 11 – SEPTEMBER 26, 2020)

$348

$335 $318

$306

$318

$328

$325

$332 $313

$295

$303

$297

$325 $300

$327

4TH OF JULY WEEKEND

11-JUL

$327

LABOR DAY WEEKEND

$299

$290

$288

$280

18-JUL

25-JUL

1-AUG

8-AUG

15-AUG

22-AUG

THIS YEAR

29-AUG

$252

$258

$254

$255

5-SEP

12-SEP

19-SEP

26-SEP

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (AUGUST 30 – SEPTEMBER 26, 2020)

$345 $338 $320 $326 $314 $338 $350 $335 $303 $298 $303 $306 $309 $308 $299 $300 $297 $302 $293$285 $288 $286 $299 $289$285 $278 $300 $269 $276 $255 $250

AVERAGE DAILY RATE ($)

$400

$200 $150 $100

LABOR DAY WEEKEND

$50 $0 G G EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP EP AU -AU 1-S 2-S 3-S -S 5-S 6-S 7-S 8-S 9-S -S 1-S 2-S 3-S 4-S 5-S 6-S 7-S 8-S 9-S -S 1-S 2-S 3-S -S 5-S 6-S 4 1 1 1 1 1 1 1 1 1 1 10 2 2 2 20 2 24 2 30 3

SOURCE: SEPTEMBER 30 2020, STR.COM

SEPTEMBER 30 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 30, 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 29-SEP

27-SEP

25-SEP

23-SEP

21-SEP

19-SEP

17-SEP

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

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

% CHANGE IN WEEKLY SEATED DINERS

-10 LABOR DAY WEEKEND

-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 70% 60% 50% 40% 30%

64% 60% 62%

53% 54%60%61% 53% 50% 52% 48%49% 43% 41% 42% 39% 38% 38% 31% 34% 31% 29% 28%30% 27% LABOR DAY 23% WEEKEND

56% 54%

20% 10% 0% 6/24

4TH OF JULY WEEKEND

9/2 9/16 8/19 8/5 7/22 7/1 9/12 7/15 9/23 7/29 8/12 8/26 CALIFORNIA LOS ANGELES

LOS ANGELES RESTAURANTS

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

-3%

-4%

-40% -60% -80%

-54% -55% -72% -75% -79% -80% -82% -87% -92% -91% -92% -96% -96% -97% -98%

-63%

-100% -120%

7/8

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

11%

20% # OF MONTHLY PASSENGERS (YOY % CHANGE)

CALIFORNIA RESTAURANTS

FEB

JOHN WAYNE AIRPORT

MAR

APR

LAX

MAY

JUNE

LONG BEACH AIRPORT

JULY

AUG

SEPTEMBER 30, 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 30, 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