OCTOBER 7, 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 OPEN HOTELS (ONLY OPEN HOTELS)
ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE
(SEPTEMBER 27 – OCTOBER 3, 2020)
(AUGUST 2020)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
(SEPTEMBER 27-OCTOBER 3, 2020)
41.8%
ALL HOTELS (OPEN & CLOSED HOTELS)
32.6%
(AUGUST 2020)
9.9%
-32.6%
(SEPTEMBER 27 – OCTOBER 3, 2020)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
-46.6%
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
$301.11
(SEPTEMBER 27 – OCTOBER 3, 2020)
RENAISSANCE HOTEL NEWPORT BEACH FASHION ISLAND HOTEL
NEWPORT BEACH REAL ESTATE (AUGUST 2020)
(SEPTEMBER 27 – OCTOBER 3) 2020 vs. 2019
CLOSED HOTELS:
(AUGUST 2020 vs. AUGUST 2019)
# OF HOTEL ROOMS OPEN FOR BOOKING:
2,612
# OF HOTEL ROOMS CLOSED:
739
NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE
-24.1%
(AUGUST 2020 vs. AUGUST 2019)
INT’L VISA SPENDING IN NEWPORT BEACH ND QUARTER 2020 VS. 2019) (2ND
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.
CALIFORNIA & LA RESTAURANTS (WEEK OF SEPT 30 - OCT 6, 2020)
JOHN WAYNE AIRPORT (SNA)
YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES
ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS % CHANGE
(WEEK OF SEPTEMBER 30–OCTOBER 6) 2020 vs. 2019
(AUGUST 2020 vs. AUGUST 2019)
(WEEK OF SEPTEMBER 9-15, 6, 2020) (WEEK OF SEPT 30-OCTOBER 2020)
(AUGUST 2020)
-71.7%
-47.0%
-69.7%
% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES
60%
38%
OCTOBER 7, 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%
88.8%
85.2%
LABOR DAY WEEKEND
82.21%
80.4%
76.1%
80
83.4%
78.3%
79.2%
77.3 %
42.5%
42.3%
41.8 %
19-SEP
26-SEP
3-OCT
71.1%
70 60 50 40
36.2%
36.5%
18-JUL
25-JUL
43.7%
44.1%
44.5%
1-AUG
8-AUG
15-AUG
43.7%
47.6%
44.5%
52.5%
30 22-AUG 29-AUG THIS YEAR
5-SEP
12-SEP
LAST YEAR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK DAILY OCCUPANCY RATE (%)
(WEEKS OF AUGUST 30–SEPTEMBER 26, 2020)
76.9%
80.0%
LABOR DAY
30.0%
57.4%
31.0% 34.8% 37.6% 30.2%32.2%
32.5% 36.9% 33.8% 34.0% 30.6%
29.3% 34.3% 34.8% 31.3%
40.0%
58.6%
58.4%
55.4%
60.0% WEEKEND 50.0%
72.4%
71.3%
70.9%
69.1%
70.0%
36.1%
29.9% 38.0% 29.4%29.4%
20.0% 10.0% 0.0%
SEPTEMBER 6-12, 2020
SEPTEMBER 13-19, 2020 SUN
MON
TUE
SEPTEMBER 20-26, 2020
WED
THU
FRI
SEPTEMBER 27 OCTOBER 3, 2020
SAT
NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES
$500 $400 $300 $200 $100 $0
EW N
44%
$311
R PO
T
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: OCTOBER 7, 2020, STR.COM
41%
$208
E LA
LL JO
$280
A TA N SA
28%
65%
52%
R BA
B
RA A
B
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%
OCTOBER 7, 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%
JULY 19-25
JULY 26AUG 1
AUG 2-8
-22.1%
-22.1%
-22.1%
AUG 9-15 AUG 16-29
-22.1%
AUG 30 SEP 5
SEP 6-12
-22.1%
-22.1%
-22.1%
SEP 13-19 SEP 20-26
-22.1%
-22.1%
SEP 27OCT 3
-22.1%
NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE $365 $345 $325 $305 $285 $265 $245 $225
AVERAGE WEEKLY RATE ($)
(WEEKS OF JULY 18 – OCTOBER 3, 2020)
$335 $318 $318
$327
$328
$325
$332 $313
$325 $300
$327 $303
$295
$297
$301
$290
$288
$258
$254
$255
$255
12-SEP
19-SEP
26-SEP
3-OCT
LABOR DAY WEEKEND
$299 $280
$252 18-JUL
25-JUL
1-AUG
8-AUG
15-AUG
22-AUG 29-AUG THIS YEAR
5-SEP
LAST YEAR
NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (SEPTEMBER 6 – OCTOBER 3, 2020)
AVERAGE DAILY RATE ($)
$350 $300
$326 $303 $298 $299 $302 $299 $286
$319 $317 $296 $303 $306 $308 $303 $297 $293 $300 $299 $288 $285 $285 $292 $289 $291 $278 $269 $276 $255
$250 $200 $150 $100
LABOR DAY WEEKEND
$50 $0 2 T 0 P P P P P P P P P P P P P P P P P P P P P P P P P SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE -SE T-2 CT -OC 7 69 10 8 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 OC 2-O 3
SOURCE: OCTOBER 7, 2020, STR.COM
OCTOBER 7, 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
% CHANGE IN WEEKLY SEATED DINERS
-10
6-OCT
4-OCT
2-OCT
30-SEP
28-SEP
26-SEP
24-SEP
22-SEP
20-SEP
18-SEP
16-SEP
14-SEP
12-SEP
10-SEP
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
0
20-JUL
(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)
LABOR DAY WEEKEND
-20 -30 -40 -50 -60 -70 -80 -90 -100 CALIFORNIA RESTAURANTS
# OF MONTHLY AIRPORT PASSENGERS (% CHANGE 2020 vs. 2019)
70% 60% 50% 40% 30%
11%
20%
80% 67% 60% 62% 64% 53% 61% 60% 54% 52% 53% 54% 48%49%50% 45% 39% 42%43% 41% 38% 38% 34% 30% 31% 29% 27%28% LABOR DAY 23% WEEKEND
20% 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%
7/1
9/2 9/16 9/30 8/19 8/5 7/22 9/12 7/15 9/23 7/29 8/12 8/26 CALIFORNIA LOS ANGELES
-60% -80%
-54% -55% -72% -75% -79% -87% -80% -82% -87% -87% -91% -92% -92% -96% -96% -97% -98%
-63%
-100%
7/8
SOURCE: OPENTABLE AND SNA/JWA, LAX & LGB AIRPORTS
-4%
-40%
-120%
0%
-3%
FEB
JOHN WAYNE AIRPORT
MAR
APR
LAX
MAY
JUNE
LONG BEACH AIRPORT
JULY
AUG
OCTOBER 7, 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)
(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
$0
$0
Q2 2019
Q2 2020
Q2 2019
Q2 2020
Q2 2019
Q2 2020
U.S. VISA CREDIT CARD SPENDING FROM EACH METRO AREA SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)
(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
OCTOBER 7, 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%
-24.1%
-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%
-6.9%
-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
$3.5 $3.5
$3.6
$3.6
$3.2
$3.1
$3.1
$4.1
$3.7 $3.7 $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
OCTOBER 7, 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% 15.0% 10.0% 5.0%
3.9%
2.9%
3.9%
2.8%
16.4% 13.8%
16.3% 14.5%
APR
MAY
14.9%13.7%
13.3%12.3%
11.4% 9.9%
5.5% 3.7%
0.0%
JAN
FEB
MAR CALIFORNIA
JUN
JUL
AUG
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
AUG
-29.8% -30.7%
-30.5% -32.9%
-31.2% -32.6%
1.5% 2.2%
0.0% -10.0%
-3.3% -4.7%
-20.0% -30.0% -40.0% -50.0%
-47.1% CALIFORNIA
-46.4% -44.3% ORANGE COUNTY
-45.3%
SOURCE: U.S. BUREAU OF LABOR STATISTICS
NEWPORT BEACH & COMPANY 1600 NEWPORT CENTER DRIVE, SUITE 120 NEWPORT BEACH, CA 92660 INFO@VISITNEWPORTBEACH.COM 800-94-COAST © 2020. NEWPORT BEACH & COMPANY