NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: OCTOBER 21, 2020 by Visit Newport Beach

OCTOBER 21, 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 11-17, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

45.1%

(AUGUST 2020)

9.9%

(OCTOBER 11-17, 2020)

(AUGUST 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

35.2%

-32.6%

(OCTOBER 11-17, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-46.8%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$318.41

(OCTOBER 11-17, 2020)

RENAISSANCE HOTEL NEWPORT BEACH FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (AUGUST 2020)

(OCTOBER 11-17) 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

-41.3%

-66.9%

(WEEK OF OCTOBER 14-20) 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 14-20, 2020)

-71.7%

69%

47%

OCTOBER 21, 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)

88.8%

85.2%

82.2%

80.4%

LABOR DAY WEEKEND

83.4%

78.3%

76.1%

84.8 %

79.2%

77.3%

75.5%

42.5%

42.3%

41.2%

42.9%

45.1 %

19-SEP

26-SEP

3-OCT

10-OCT

17-OCT

71.1%

75 65 55 45

43.7%

44.1%

44.5%

1-AUG

8-AUG

15-AUG

43.7%

47.3%

44.5%

42.5%

35 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 20–OCTOBER 17, 2020)

80.0%

58.6%

60.0% 50.0% 40.0%

31.0% 37.6% 30.2% 32.2%

30.0%

29.9%

69.9%

59.3%

57.4% 36.1%

34.8%

72.4%

72.3%

71.3%

70.0%

59.0% 41.4%

32.0% 38.3% 34.8% 31.0% 31.8%

38.0%

29.4% 29.4%

34.8% 41.3% 33.2%36.4%

20.0% 10.0% 0.0%

SEPTEMBER 20-26, 2020

SEPTEMBER 27 OCTOBER 3, 2020 SUN

MON

TUE

OCTOBER 4-10, 2020 WED

THU

FRI

OCTOBER 11-17, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES

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

EW N

44%

$304

R PO

H C A BE

53%

$205 N TO G N I T N U H

50%

49%

$133

… N SA

O G IE D

42%

$406

A N A D

T IN PO

$111 IR

N VI

AVERAGE DAILY RATE ($) SOURCE: OCTOBER 21, 2020, STR.COM

44%

$208

E LA

LL JO

$298

A TA N SA

32%

65%

55%

R BA

RA A

ER EV

$456

Y YL

LS IL H

OCCUPANCY RATE (%)

LM PA

$147 R SP

S G IN

46% 31% $86 M EI H A N A

TA N SA

$249 A IC N O M

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

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

80% 60% 40% 20% 0%

OCTOBER 21, 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)

AUG 2-8 0.0% -5.0% -10.0% -15.0% -20.0% -25.0%

-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

-22.1%

OCT 4-10 OCT 11-17

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE

AVERAGE WEEKLY RATE ($)

(WEEKS OF AUGUST 1– OCTOBER 17, 2020)

355 $327

335

$328

$332

$325

315 295

$295

275

$303

$325

$313

$297

$318 $300

LABOR DAY WEEKEND

$299

$303

$301

$290

$288

$254

$255

19-SEP

26-SEP

3-OCT

$280

255 235

$252

$258

$255 $241

215 1-AUG

8-AUG

15-AUG

22-AUG 29-AUG

5-SEP

12-SEP

THIS YEAR

10-OCT

17-OCT

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (SEPTEMBER 20 – OCTOBER 17, 2020)

$400 $336 $334 $319 $327 $308 $319 $317 $314 $317 $296 $308 $306 $303 $302 $302 $287 $293 $303 $300 $299 $285 $299 $292 $289 $278 $291 $285 $300 $269 $250

AVERAGE DAILY RATE ($)

$350

$200 $150 $100 $50 $0 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 20 0/ 21/ 22/ 23/ 24/ 25/ 26/ 27/ 28/ 29/ 30/ /1/ /2/ /3/ /4/ /5/ /6/ /7/ /8/ /9/ 10/ /11/ 12/ 13/ 14/ 15/ 16/ 17/ 2 10 10 10 10 10 10 10 10 10 10/ 10 10/ 10/ 10/ 10/ 10/ 10/ 9/ 9/ 9/ 9/ 9/ 9/ 9/ 9/ 9/ 9/ 9/

SOURCE: OCTOBER 21, 2020, STR.COM

OCTOBER 21, 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

20-OCT

18-OCT

16-OCT

14-OCT

12-OCT

10-OCT

8-OCT

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

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

LABOR DAY WEEKEND

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

CALIFORNIA RESTAURANTS

70% 50% 40% 30%

60% 53%53% 54% 50%52% 49%

30%31% 27%28%

67% 68%69% 60% 61% 62% 64%

47% 42% 43%44%45% 41% 39% 38% 38% 34%

20% 10% 0%

(% CHANGE 2020 vs. 2019) 11%

20%

80% 60%

# 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%

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

-4%

-40% -60% -80%

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

-63%

-100% -120%

9/2 9/16 9/30 10/14 8/19 8/5 7/22 9/12 10/7 7/15 9/23 7/29 8/12 8/26 CALIFORNIA LOS ANGELES

-3%

FEB

JOHN WAYNE AIRPORT

MAR

APR

LAX

MAY

JUNE

LONG BEACH AIRPORT

JULY

AUG

OCTOBER 21, 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

OCTOBER 21, 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

$3.2

$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 21, 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