NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: DECEMBER 17, 2020 by Visit Newport Beach

DECEMBER 16, 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

(DECEMBER 6-12, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

20.3%

(OCTOBER 2020)

7.5%

(DECEMBER 6-12, 2020)

(OCTOBER 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

15.8%

-24.6%

(DECEMBER 6-12, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-74.1%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$298.66

(DECEMBER 6-12, 2020)

# OF HOTEL ROOMS OPEN FOR BOOKING:

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (OCTOBER 2020)

(DECEMBER 6-12) 2020 vs. 2019

CLOSED HOTELS: RENAISSANCE HOTEL NEWPORT BEACH

(OCTOBER 2020 vs. OCTOBER 2019)

2,612

# OF HOTEL ROOMS CLOSED:

739

U.S. AUTOMOBILE SALES (OCTOBER 2020 vs. 2019)

# OF AUTOMOBILES SOLD YOY % CHANGE

-64%

(OCTOBER 2020 vs. OCTOBER 2019)

JOHN WAYNE AIRPORT (SNA) (OCTOBER 2020)

NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE

-28.0%

(OCTOBER 2020 vs. OCTOBER 2019)

U.S. VISA SPENDING IN NEWPORT BEACH (3RD QUARTER 2020 VS. 2019)

DOMESTIC U.S. CREDIT CARD SPENDING IN NEWPORT BEACH

-15.6%

(3RD QUARTER 2020 VS. 2019)

CALIFORNIA & LA RESTAURANTS (WEEK OF DECEMBER 10-16, 2020) YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-93.2%

-99.9%

(WEEK OF DECEMBER 10-16) 2020 vs. 2019

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

% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES

(OCTOBER 2020 vs. OCTOBER 2019)

(WEEK OF DECEMBER 10-16, 2020)

-65.7%

18%

DECEMBER 16, 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 (%)

84.8%

79.2%

77.3%

82.9%

80.4%

75.5%

69.8%

THANKSGIVING WEEKEND

72.3%

63.0%

78.5 % 66.2%

50.0%

55 45 35

42.3%

45.1%

42.9%

41.8%

45.0%

41.0%

34.5%

36.5%

7-NOV

14-NOV

33.7%

34.8%

21-NOV

28-NOV

15 26-SEP

3-OCT

10-OCT

17-OCT

24-OCT

31-OCT

THIS YEAR

20.3 %

26.3% 5-DEC

12-DEC

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF NOVEMBER 15 – DECEMBER 12, 2020)

DAILY OCCUPANCY RATE (%)

80.0% 70.0% 60.0% 46.5%

50.0% 40.0% 30.0%

39.8% 30.2% 32.7% 27.4% 31.4% 28.1%

43.7% 38.7% 39.2% 32.8% 30.5% 29.4% 28.8%

20.0%

36.7% 32.8% 25.2% 22.5% 28.1% 21.1% 20.6% 17.9% 22.9% 19.9%22.7% 19.9% 18.1% 17.9%

10.0% 0.0%

NOVEMBER 15-21, 2020

NOVEMBER 22-28, 2020 SUN

MON

TUE

NOV 29 - DEC 5, 2020

WED

THU

FRI

DECEMBER 6-12, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES 52%

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

EW N

34%

$306

R PO

H C A BE

40%

37%

$161 N TO G N I T N U H

$110

… N SA

O G IE D

A N A D

31%

35%

$319

$105

T IN PO

43%

35%

24%

N VI

$186

AVERAGE DAILY RATE ($) SOURCE: DECEMBER 16, 2020, STR.COM

25%

LL JO

$262

A TA N SA

R BA

RA A

ER EV

$437

Y YL

LS IL H

OCCUPANCY RATE (%)

LM PA

$156 R SP

S G IN

$79 M EI H A N A

TA N SA

33%

$229 A IC N O M

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

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

60% 50% 40% 30% 20% 10% 0%

DECEMBER 16, 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)

SEP 20-26

SEP 27OCT 3

-22.1%

0.0% -5.0% -10.0% -15.0% -20.0% -25.0%

OCT 4-10 OCT 11-17

-22.1%

NOV 1-7

NOV 8-14 NOV 15-21 NOV 22-28

-22.1%

NOV 29 DEC 5

DEC 6-12

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF SEPTEMBER 26 – DECEMBER 12, 2020)

THANKSGIVING WEEKEND

AVERAGE WEEKLY RATE ($)

$360 $340

$318

$320 $300

$301

$288

$303

$326 $312

$305 $282

$293

$302

$299

$227

$232

5-DEC

12-DEC

$283

$280 $260

$272

$240

$255

$255 $241

$220

$244

$239

$240

$200 26-SEP

3-OCT

10-OCT

17-OCT

24-OCT

31-OCT

7-NOV

THIS YEAR

$229

$224

14-NOV

21-NOV

28-NOV

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (NOVEMBER 15 – DECEMBER 12, 2020)

AVERAGE DAILY RATE ($)

$400 $337 $304 $307 $286 $284$300 $273 $266 $260

$350 $295 $300 $250 $200

$351 $348 $331 $318 $316$316 $306 $300 $294$293 $299$294 $305 $283$281 $275 $272

$195

$150 $100 $50 $0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 /2 15 /16 /17 /18 /19 /20 /21 /22 /23 /24 /25 /26 /27 /28 /29 30 2/1 2/2 2/3 2/4 2/5 2/6 2/7 2/8 2/9 /10 /11 /12 / / 1 1 1 1 1 1 1 1 1 11 11 11 11 12 12 11 11 11 11 11 11 11 11 11 11 11 12 11

SOURCE: DECEMBER 16, 2020, STR.COM

DECEMBER 16, 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

21-SEP 23-SEP 25-SEP 27-SEP 29-SEP 1-OCT 3-OCT 5-OCT 7-OCT 9-OCT 11-OCT 13-OCT 15-OCT 17-OCT 19-OCT 21-OCT 23-OCT 25-OCT 27-OCT 29-OCT 31-OCT 2-NOV 4-NOV 6-NOV 8-NOV 10-NOV 12-NOV 14-NOV 16-NOV 18-NOV 20-NOV 22-NOV 24-NOV 26-NOV 28-NOV 30-NOV 2-DEC 4-DEC 6-DEC 8-DEC 11-DEC 13-DEC 15-DEC

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

-10 -20 -30 -40 -50 -60 -70 -80 -90 -100 CALIFORNIA RESTAURANTS

% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK 70%

68%

69% 69%

69%

67% 59%

47%

48%

(% CHANGE 2020 vs. 2019) 0%

60% 50%

# OF MONTHLY AIRPORT PASSENGERS

47%

46%

48% 48%

48%

40% 30%

24% 18%

20%

# OF MONTHLY PASSENGERS (YOY % CHANGE)

PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK

80%

LOS ANGELES RESTAURANTS

-20% -40% -55% -66% -68% -72% -75%

-60% -63% -80% -100%

-80% -91% -97%

10% 0%

0% OCT 14

OCT 21

OCT NOV NOV 28 4 11 CALI FORNI A

NOV NOV DEC 18 25 2 LOS ANGELES

DEC 9

DEC 16

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

-54%

-71% -75% -79% -81% -81% -82% -87% -87% -87% -92% -92% -96% -96% -98%

-120% JOHN WAYNE AIRPORT MAR

APR

MAY

LAX JUNE

JULY

LONG BEACH AIRPORT AUG

SEP

OCT

DECEMBER 16, 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

(2020 vs. 2019)

$20,000,000 $18,000,000 $16,000,000 $13,809,783

(2ND QUARTER 2020 vs. 2019)

$350,000,000

$340,002,302

$300,000,000

$294,119,639

$325,722,868

$17,811,034

$14,000,000

$4.0 $3.5 $3.0 $2.5

$250,000,000

$2.0

$12,000,000

$200,000,000

$1.5

$10,000,000

$150,000,000

$8,000,000 $6,000,000 $4,000,000

INT’L VISA CREDIT CARD SPENDING IN NEWPORT BEACH BY CATEGORY

$2,768,760

$1.0

$142,280,805

$0.5 $0.0

$100,000,000

$3,329, 834

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

$50,000,000

$2,000,000

2ND QUARTER 2019

3RD QUARTER

2ND 3RD QUARTER QUARTER

2020

2019

20202

Q2 2019

Q2 2020

U.S. VISA CREDIT CARD SPENDING FROM EACH METRO AREA SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)

(2ND & 3RD QUARTERS 2020 vs. 2019) $15.0 $10.0 $5.0 $0.0

$9.8

$11.9 $9.0

$3.3 SAN FRANCISCO

$9.5 $10.5 $9.2 $4.1

SAN DIEGO

$8.5 $7.6 $5.7 $2.2

$5.0 $5.9 $5.1 $2.2

$7.2 $4.3 $1.5 $2.9

PHOENIX

LAS VEGAS

NEW YORK CITY

Q2 2019

Q2 2020

$3.4 $3.6 $0.9 $2.0

$2.7 $3.1 $0.7 $1.8

$2.6 $2.7 $0.8 $2.2

SEATTLE

DENVER

SACRAMENTO

Q3 2019

Q3 2020

EXCLUDES LA, RIVERSIDE & ORANGE COUNITES

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

DECEMBER 16, 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%

-28.0%

-30.7%

-35.0%

-22.9%

-24.1% -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 80.0%

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

65.0%

60.0% 40.0%

38.5%

31.6%

11.8%

10.6%

20.0% 0.0%

-1.4%

-20.0%

-6.9%

-15.1%

-11.6% -23.9%

-40.0%

-27.5%

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

$3.2

$3.1

$4.1

$3.7 $3.7

$2.8

$3.2 $3.2

$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

DECEMBER 16, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

UNEMPLOYMENT & AUTOMOBILE 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% 13.5% 12.4% 11.2% 9.5%

15.0% 10.0% 5.0%

5.5% 3.9% 3.7% 2.8%

3.9% 2.9%

11.1% 9.0% 9.3% 7.5%

0.0%

JAN

FEB

MAR

APR

MAY

CALIFORNIA

JUN

JUL

AUG

SEP

OCT

ORANGE COUNTY

2020 ORANGE COUNTY MONTHLY NUMBER OF LEISURE & HOSPITALITY EMPLOYEES PERCENT CHANGE (CALIFORNIA vs. ORANGE COUNTY)

YOY PERCENT CHANGE (%)

JAN 10.0%

FEB

1.7% 2.1%

MAR

APR

MAY

JUN

JULY

AUG

SEP

OCT

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%

-24.6% -25.4%

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

SOURCE: U.S. BUREAU OF LABOR STATISTICS

U.S. AUTOMOBILE SALES BY MONTH # OF AUTOMOBILES SOLD (MILLIONS)

(2020 vs. 2019)

2.0 1.5

1.2 1.2

0.9

1.0

1.6

1.5

1.4 1.3

0.5

1.3

1.2

1.6

1.4

1.5 1.3

1.3

1.4

1.3

0.6

1.5

0.5

0.0 JAN

FEB

MAR

APR

MAY

JUN 2020

JUL

AUG

SEP

OCT

2019

NOV

DEC