NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: OCTOBER 14, 2020 by Visit Newport Beach

OCTOBER 14, 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

(OCTOBER 4-10, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

42.9%

(AUGUST 2020)

9.9%

(OCTOBER 4-10, 2020)

(AUGUST 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

33.4%

-32.6%

(OCTOBER 4-10, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-43.2%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$302.95

(OCTOBER 4-10, 2020)

RENAISSANCE HOTEL NEWPORT BEACH FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (AUGUST 2020)

(OCTOBER 4-10) 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 (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.

CALIFORNIA & LA RESTAURANTS (WEEK OF OCTOBER 7-13, 2020)

JOHN WAYNE AIRPORT (SNA) (AUGUST 2020)

YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-42.1%

-68.3%

(WEEK OF OCTOBER 7-13) 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 OCTOBER 7-13, 2020)

-71.7%

68%

45%

OCTOBER 14, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2020 vs. 2019)

WEEKLY OCCUPANCY RATE (%)

100

90.9%

88.8%

85.2%

LABOR DAY WEEKEND

82.2%

80.4%

76.1%

83.4%

78.3%

79.2%

77.3%

75.5 %

42.5%

42.3%

41.8%

42.9 %

19-SEP

26-SEP

3-OCT

10-OCT

71.1%

70 60 50 40

43.7%

44.1%

44.5%

1-AUG

8-AUG

15-AUG

53.7%

36.5%

47.3%

44.5%

42.5%

30 25-JUL

22-AUG 29-AUG

5-SEP

12-SEP

THIS YEAR

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK DAILY OCCUPANCY RATE (%)

(WEEKS OF SEPTEMBER 13–OCTOBER 10, 2020)

80.0%

50.0% 40.0% 30.0%

58.6%

58.4%

60.0%

72.3%

71.3%

70.9%

70.0%

59.3%

57.4%

31.0% 37.6% 30.2% 32.2%

29.9% 38.0%

36.1%

34.8%

33.8% 32.5% 36.9% 30.6% 34.0%

72.4%

32.0% 38.3%

34.8%

29.4%29.4%

31.0% 31.8%

20.0% 10.0% 0.0%

SEPTEMBER 13-19, 2020

SEPTEMBER 20-26, 2020 SUN

MON

TUE

SEPTEMBER 27 OCTOBER 3, 2020

WED

THU

FRI

OCTOBER 4-10, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES

$236 M O N IC A

IN G S PA LM

YL Y

SP R

H IL L

A RA

OCCUPANCY RATE (%)

$84

SA N TA

$133

42%

29%

A N A H EI M

$462 S

$280

E VI N IR

PO IN T D A N A

D IE G O SA N

AVERAGE DAILY RATE ($) SOURCE: OCTOBER 14, 2020, STR.COM

$208

EV ER

$113

BA R

$407

$132

41%

28%

65%

52%

SA N TA

$210

H U N TI N G TO N

BE A C H T PO R N EW

45%

…

$311

56%

JO LL

44%

56%

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

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

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

80% 60% 40% 20% 0%

OCTOBER 14, 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 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%

SEP 27OCT 3

OCT 4-10

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE

AVERAGE WEEKLY RATE ($)

(WEEKS OF JULY 25 – OCTOBER 10, 2020)

355

$335

335 315

$327

$328

$325

$332 $313

$325 $300

$327

295

$295

275

$303

$297

$301

$290

$288

$254

$255

19-SEP

26-SEP

3-OCT

$303

LABOR DAY WEEKEND

$299 $280

255 235

$252

$258

$241

215 25-JUL

1-AUG

8-AUG

15-AUG

22-AUG 29-AUG

5-SEP

THIS YEAR

12-SEP

10-OCT

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (SEPTEMBER 13 – OCTOBER 10, 2020)

$319 $327 $308 $317 $296 $303 $306 $308 $303 $302 $302 $297 $293 $303 $300 $289 $299 $287 $288 $285 $285 $292 $289 $291 $300 $269$278 $276 $255

AVERAGE DAILY RATE ($)

$350

$250 $200 $150 $100 $50

13 -S E 14 P -S E 15 P -S E 16 P -S E 17 P -S E 18 P -S E 19 P -S E 20 P -S E 21 P -S E 22 P -S E 23 P -S E 24 P -S E 25 P -S E 26 P -S E 27 P -S E 28 P -S E 29 P -S E 30 P -S EP O CT -2 2- 0 O CT 2 3O CT 4O CT 5O CT 6O CT 7O C 8- T O CT 9O C 10 T -O CT

SOURCE: OCTOBER 14, 2020, STR.COM

OCTOBER 14, 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

13-OCT

11-OCT

9-OCT

7-OCT

5-OCT

3-OCT

1-OCT

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

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

LABOR DAY WEEKEND

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

(% CHANGE 2020 vs. 2019) 11%

20%

80%

67%68% 64% 61% 62% 54% 60% 60% 53% 53% 60% 52% 49%50% 48% 45% 50% 38% 42%43%44% 38% 41% 39% 40% 31%34% 27%28%30% 30% 23%

70%

20% 10% 0%

# OF MONTHLY AIRPORT PASSENGERS

# 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%

-40% -60% -80%

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

-63%

-100% -120%

7/8

9/2 9/16 9/30 8/19 8/5 7/22 10/7 9/12 7/15 9/23 7/29 8/12 8/26 CALIFORNIA LOS ANGELES

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

-4%

JOHN WAYNE AIRPORT

FEB

MAR

APR

LAX

MAY

JUNE

LONG BEACH AIRPORT

JULY

AUG

OCTOBER 14, 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

L ES OD TA GI N H UR G EA A N D LT T EP H S C AR A TM AP RE FO EN P A O T S RE D L Q & TOR U IC R GR ES K E -S TA OC ER IL ER Y VI G A O U C O T E R OM DS ES TA OTI EL UR VE EC AN TR TS O N IC S

$0.0 $100,000,000

$4,000,000

$2,768,760 $50,000,000

$2,000,000 $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 K OREA

$0.4

$0.0

AUSTRALIA

OCTOBER 14, 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

DEC

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

$3.2

$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 14, 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%

JUN

JUL

11.4% 9.9%

5.5% 3.7%

0.0%

JAN

FEB

MAR CALIFORNIA

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