NOVEMBER 4, 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 25-31, 2020)
OPEN HOTELS (ONLY OPEN HOTELS)
45.0%
(SEPTEMBER 2020)
9.0%
(OCTOBER 25-31, 2020)
(SEPTEMBER 2020)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
ALL HOTELS (OPEN & CLOSED HOTELS)
35.1%
-29.3%
(OCTOBER 25-31, 2020)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
-35.5%
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
$281.69
(OCTOBER 25-31, 2020)
RENAISSANCE HOTEL NEWPORT BEACH
# OF HOTEL ROOMS OPEN FOR BOOKING:
FASHION ISLAND HOTEL
NEWPORT BEACH REAL ESTATE (AUGUST 2020)
(OCTOBER 25-31) 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 OCT 28-NOV 3, 2020)
JOHN WAYNE AIRPORT (SNA)
YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES
ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS % CHANGE
(WEEK OF OCTOBER 28-NOVEMBER 3) 2020 vs. 2019
% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES
(SEPTEMBER 2020 vs. SEPTEMBER 2019)
(WEEK OF OCTOBER 28-NOV 3, 2020)
(SEPTEMBER 2020)
-68%
-41.9%
69%
-65.6%
47%
NOVEMBER 4, 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)
95 80.4%
85
82.2%
83.4%
78.3%
76.1%
84.8%
79.2%
77.3%
71.1%
75 65
80.4%
75.5%
69.8%
LABOR DAY WEEKEND
55
44.5%
43.7%
42.5%
44.5%
15-AUG
22-AUG
29-AUG
5-SEP
45
47.3%
42.5%
42.3%
41.8%
42.9%
45.1%
19-SEP
26-SEP
3-OCT
10-OCT
17-OCT
45.0 %
41.1%
35 12-SEP
THIS YEAR
24-OCT
31-OCT
LAST YEAR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF OCTOBER 4-31, 2020)
DAILY OCCUPANCY RATE (%)
80.0%
72.4%
70.0%
59.3%
60.0%
30.0%
69.2%
61.9%
59.0%
56.9%
52.5%
50.0% 40.0%
69.9%
41.4%
34.8% 41.3% 36.4% 33.2%
34.8% 32.0% 38.3% 31.0% 31.8%
32.4% 38.6% 35.6% 31.8% 34.6%
43.1% 41.8% 38.9% 33.0%
32.2%
20.0% 10.0% 0.0%
OCTOBER 4-10, 2020
OCTOBER 11-17, 2020 SUN
MON
TUE
OCTOBER 18-24, 2020
WED
THU
FRI
OCTOBER 25-31, 2020
SAT
NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES
$500 $400 $300 $200 $100 $0
EW N
44%
$304
R PO
T
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: NOVEMBER 4, 2020, STR.COM
44%
$208
E LA
LL JO
$298
A TA N SA
32%
65%
55%
R BA
B
RA A
B
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%
NOVEMBER 4, 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%
AUG 16-29
AUG 30 SEP 5
SEP 6-12
-22.1%
-22.1%
-22.1%
SEP 13-19 SEP 20-26
-22.1%
SEP 27OCT 3
-22.1%
OCT 4-10 OCT 11-17 OCT 18-24 OCT 25-31
-22.1%
-22.1%
-22.1%
-22.1%
-22.1%
NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF AUGUST 15 – OCTOBER 31, 2020)
AVERAGE WEEKLY RATE ($)
$355
$325
$335
$332
$325
$313
$300
$315 $295
$297
$275
$318
LABOR DAY WEEKEND
$299
$290
$288
$254
$255
$301
$305
$303
$282
$280
$255
$252
$235
$258
$255
$215 15-AUG
22-AUG 29-AUG
5-SEP
12-SEP
19-SEP
$255
$244
$239
24-OCT
31-OCT
$241 26-SEP
THIS YEAR
3-OCT
10-OCT
17-OCT
LAST YEAR
NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (OCTOBER 4-31, 2020)
$400 $336 $334 $327 $327 $308 $319 $317 $314$305 $311$313 $306 $305 $302 $303 $287 $302 $295$290 $294$288 $292 $299 $289 $281$289 $279 $300 $260 $250
AVERAGE DAILY RATE ($)
$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 4/ /5/ /6/ /7/ /8/ /9/ 10/ 11/ 12/ 13/ 14/ 15/ 16/ 17/ 18/ 19/ 20/ 21/ 22/ 23/ 24/ 25/ 26/ 27/ 28/ 29/ 30/ 31/ / / / 10 10 10 10 10 10 10/ 10 10/ 10/ 10/ 10/ 10/ 10 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/ 10/
SOURCE: NOVEMBER 4, 2020, STR.COM
NOVEMBER 4, 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 3-NOV
1-NOV
30-OCT
28-OCT
26-OCT
24-OCT
22-OCT
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
0
17-AUG
(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)
% CHANGE IN WEEKLY SEATED DINERS
-10 -20 -30 -40 -50 -60 -70 -80 -90 -100 CALIFORNIA RESTAURANTS
80% 70% 60% 50% 40% 30%
(% CHANGE 2020 vs. 2019) 20%
68% 68%69% 64% 60% 67% 67% 62% 60% 61% 54% 53% 52% 53%
44% 45%47%48%47% 41% 38% 42% 43% 38% 39% 34% 30%31%
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%
SOURCE: OPENTABLE AND SNA/JWA, LAX & LGB AIRPORTS
-3%
-4%
-40% -60% -80%
-68% -72% -75%
-63%
-80% -91%
-100% -120%
10/14 9/2 9/16 9/30 8/19 10/28 8/5 10/7 10/21 9/12 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
-81% -87% -87%
-92% -96% -98%
LONG BEACH AIRPORT JULY
AUG
SEP
NOVEMBER 4, 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
NOVEMBER 4, 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
0.0% YOY % CHANGE IN ACTIVE LISTINGS
-5.0% -10.0%
-4.0%
-5.6%
-15.0% -20.0%
-18.0%
-25.0%
-20.8% -25.3%
-30.0%
-26.9%
-24.1% -28.0%
-30.7%
-35.0%
-33.8%
-40.0%
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% -30.0%
FEB
65.0%
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
38.5%
31.6%
11.8%
10.6% -1.4%
-6.9%
-15.1%
-23.9%
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 $3.2
$3.0 $2.9
$3.1 $2.8
$3.5 $3.5
$3.6
$3.6
$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
NOVEMBER 4, 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
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