NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: OCTOBER 28, 2020 by Visit Newport Beach

OCTOBER 28, 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 18-24, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

41.1%

(SEPTEMBER 2020)

9.0%

(OCTOBER 18-24, 2020)

(SEPTEMBER 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

31.9%

-29.3%

(OCTOBER 18-24, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-46.8%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$305.21

(OCTOBER 11-17, 2020)

RENAISSANCE HOTEL NEWPORT BEACH

# OF HOTEL ROOMS OPEN FOR BOOKING:

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (AUGUST 2020)

(OCTOBER 18-24) 2020 vs. 2019

CLOSED HOTELS:

(SEPTEMBER 2020 vs. SEPTEMBER 2019)

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 21-27, 2020)

JOHN WAYNE AIRPORT (SNA) (SEPTEMBER 2020)

YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-43.3%

-65.2%

(WEEK OF OCTOBER 21-27) 2020 vs. 2019

ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS % CHANGE

% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES

(SEPTEMBER 2020 vs. SEPTEMBER 2019)

(WEEK OF OCTOBER 21-27, 2020)

-68%

69%

48%

OCTOBER 28, 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)

85.2%

80.4%

82.2%

83.4%

78.3%

76.1%

84.8% 77.3%

75.5%

42.5%

42.3%

41.8%

42.9%

45.1%

19-SEP

26-SEP

3-OCT

10-OCT

17-OCT

71.1%

75 65

80.4%

70.2%

LABOR DAY WEEKEND

44.1%

44.5%

43.7%

42.5%

44.5%

8-AUG

15-AUG

22-AUG

29-AUG

5-SEP

47.3%

41.1 %

35 12-SEP

THIS YEAR

24-OCT

LAST YEAR

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

(WEEKS OF SEPTEMBER 27–OCTOBER 24, 2020)

80.0%

72.4%

72.3%

70.0% 50.0% 40.0%

59.3%

57.4%

60.0% 36.1%

61.9%

59.0%

52.5%

41.4% 34.8%

41.3% 36.4% 33.2%

38.3% 34.8% 32.0% 31.0% 31.8%

38.0%

29.9% 29.4% 29.4%

30.0%

69.9%

35.6%

32.4% 38.6% 31.8% 34.6%

20.0% 10.0% 0.0%

SEPTEMBER 27 OCTOBER 3, 2020

OCTOBER 4-10, 2020 SUN

MON

TUE

OCTOBER 11-17, 2020

WED

THU

FRI

OCTOBER 18-24, 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 28, 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 28, 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 9-15 AUG 16-29 0.0% -5.0% -10.0% -15.0% -20.0% -25.0%

-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 OCT 18-24

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE

AVERAGE WEEKLY RATE ($)

(WEEKS OF AUGUST 8– OCTOBER 24, 2020)

355 $328

335

$325

$332

$325

$313

$318 $300

315 295

$303

275

$297

$290

$288

$254

$255

19-SEP

26-SEP

$303

$301

$305

LABOR DAY WEEKEND

$299 $280

255

$258

$252

235

$255

$255 $241

215 8-AUG

15-AUG

22-AUG 29-AUG

5-SEP

12-SEP

THIS YEAR

3-OCT

10-OCT

17-OCT

$244 24-OCT

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (SEPTEMBER 27 – OCTOBER 24, 2020) $336

$340 AVERAGE DAILY RATE ($)

$330 $320 $310 $300 $290

$319

$334 $327

$327

$303 $296 $299 $292$287 $291

$319

$317

$308 $302

$302

$289

$303

$306 $299

$314

$311$313

$305 $295 $290

$292

$280 $270 $260 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 7/ 28/ 29/ 0/ /1/ /2/ /3/ /4/ /5/ /6/ /7/ /8/ /9/ 10/ 11/ 12/ 13/ 14/ 15/ 16/ 17/ 18/ 19/ 0/ 21/ 22/ 23/ 24/ 2 2 3 10 10 10 10 10 10 10 10 10 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 0/ 10/ 0/ 0/ 0/ 9/ 9/ 9/ 9/ 1 1 1 1

SOURCE: OCTOBER 28, 2020, STR.COM

OCTOBER 28, 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

27-OCT

25-OCT

23-OCT

21-OCT

19-OCT

17-OCT

15-OCT

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

(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%

54% 52%53%53% 50%

61% 62% 60% 60% 64%

68% 69%69% 67%

48% 43% 44%45%47% 42% 39% 38%41% 38% 34% 31% 30% 28%

20% 10% 0%

(% CHANGE 2020 vs. 2019) 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

-3%

-4%

-40% -60% -80%

-68% -72% -75%

-63%

-80% -91%

-100% -120%

9/2 9/16 9/30 10/14 8/19 8/5 7/22 10/21 9/12 10/7 9/23 7/29 8/12 8/26 CALIFORNIA LOS ANGELES

11%

-97% JOHN WAYNE AIRPORT

FEB

MAR

APR

-54%

-55% -75% -79% -82% -87% -92% -96% LAX

MAY

JUNE

-87% -87%

-92% -96%

-98%

LONG BEACH AIRPORT JULY

AUG

SEP

OCTOBER 28, 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 28, 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 28, 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% 16.4% 14.7% 14.9% 13.8% 13.6%

15.0% 10.0% 5.0%

3.9% 2.9%

3.9%

5.5%

2.8%

13.5% 12.4% 11.2% 9.5%

11.0% 9.0%

3.7%

0.0%

JAN

FEB

MAR

APR

CALIFORNIA

MAY

JUN

JUL

AUG

SEP

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

SEP

1.5% 2.2%

0.0% -10.0%

-3.3% -4.7%

-20.0% -30.0%

-28.5% -29.8% -30.5% -29.3% -31.6% -30.8% -30.7% -32.4%

-40.0% -50.0%

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

SOURCE: U.S. BUREAU OF LABOR STATISTICS