MARCH 10, 2021 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
(FEBRUARY 28 – MARCH 6, 2021)
OPEN HOTELS (ONLY OPEN HOTELS)
30.8%
(DECEMBER 2020)
7.4%
(FEBRUARY 28 – MARCH 6, 2021)
(DECEMBER 2020)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
ALL HOTELS (OPEN & CLOSED HOTELS)
28.1%
-26.3%
(FEBRUARY 28 - MARCH 6, 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
-53.2%
(DECEMBER 2020 vs. DECEMBER 2019)
NEWPORT BEACH REAL ESTATE (FEBRUARY 2021)
(FEBRUARY 28 – MARCH 6) 2021 vs. 2020
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
$274.33
(FEBRUARY 28 – MARCH 6, 2021)
CLOSED HOTELS:
# OF HOTEL ROOMS OPEN FOR BOOKING:
FASHION ISLAND HOTEL
# OF HOTEL ROOMS CLOSED:
3,056 295
U.S. AUTOMOBILE SALES (FEBRUARY 2021 vs. 2020)
# OF AUTOMOBILES SOLD YOY % CHANGE
-65%
(FEBRUARY 2021 vs. FEBRUARY 2020)
JOHN WAYNE AIRPORT (SNA) (JANUARY 2021)
NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE
-33.2%
(FEBRUARY 2021 vs. FEBRUARY 2020)
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 MARCH 3-9, 2021)
YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES
-49.6%
-70.2%
(WEEK OF MARCH 3-9) 2021 vs. 2020
ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS YOY % CHANGE
% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES
(JANUARY 2021 vs. JANUARY 2020)
(WEEK OF MARCH 3-9, 2021)
-75.8%
61%
46%
MARCH 10, 2021 WEEKLY REPORT
NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD
HOTEL PERFORMANCE
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE WEEKLY OCCUPANCY RATE (%)
(2020 vs. 2019/2021 vs. 2020)
95 85 75 65
63.1%
61.6%
76.6%
74.4%
73.9%
VALENTINE’S & PRESIDENTS’ DAY WEEKEND
MLK WEEKEND
45
31.1%
23.9%
23.3%
19-DEC
26-DEC
25
80.8%
76.2%
65.8%
58.1%
57.2%
55 35
88.7%
81.9%
CHRISTMAS & NYE WEEK
21.4%
24.6%
24.2%
21.3%
21.9%
9-JAN
16-JAN
23-JAN
30-JAN
6-FEB
30.6%
33.2%
30.7%
30.8%
13-FEB
20-FEB
27-FEB
6-MAR
15 2-JAN
THIS YEAR
LAST YEAR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF FEBRUARY 7 – MARCH 6, 2021) VALENTINE’S DAY & PRESIDENTS’ DAY WEEKEND
DAILY OCCUPANCY RATE (%)
80.0% 69.4%
70.0%
56.1%
60.0%
20.0%
25.4% 34.3%
22.7% 19.7% 21.2% 19.3% 20.4%
39.6% 26.1% 26.4% 27.1% 23.2% 22.2%
24.2% 23.2% 27.2% 23.5% 24.5%
22.7% 25.0% 22.6%
51.1%
41.7%
41.2%
40.0% 30.0%
52.8%
46.1%
50.0%
10.0% 0.0%
FEBRUARY 7-13, 2021
FEBRUARY 14-20, 2021 SUN
MON
TUE
FEBRUARY 21-27, 2021
WED
THU
FRI
FEB 28 - MAR 6, 2021
SAT
NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES 33%
24%
32%
25%
18% $206 M O N IC A
IN G S PA LM
YL Y EV ER
SP R
H IL L
A RA B
OCCUPANCY RATE (%)
$78
SA N TA
$111
A N A H EI M
$443 S
$188
BA R
E VI N IR
PO IN T D A N A
D IE G O SA N
AVERAGE DAILY RATE ($) SOURCE: MARCH 10, 2021, STR.COM
$162
B
$100
A
$250
SA N TA
$100
JO LL
$143
H U N TI N G TO N
BE A C H T PO R N EW
16%
32%
26%
18%
…
$264
30%
29%
LA
$500 $400 $300 $200 $100 $0
OCCUPANCY RATE (%)
MONTHLY AVERAGE DAILY RATE ($)
(MONTHLY AVERAGE DAILY RATE & OCCUPANCY RATE FOR JANUARY 2021)
40% 30% 20% 10% 0%
MARCH 10, 2021 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 2021 vs. 2020)
0.0% -2.0% -4.0% -6.0% -8.0% -10.0%
JAN 31 - FEB 6
FEB 7-13
FEB 14-20
FEB 21-27
FEB 28+MAR 6
-8.8%
-8.8%
-8.8%
-8.8%
-8.8%
NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF DECEMBER 19, 2020 – MARCH 6, 2021)
CHRISTMAS & NYE WEEK
335
$301
315 295
MLK WEEKEND
VALENTINE’S & PRESIDENTS’ DAY WEEKEND
$311
$279
275
$287
$266
$265
$264
$263
$266
$255
$275
255
$266
$263
$274
$264
235 215
$239
$242
$241
9-JAN
16-JAN
23-JAN
$249
$239
$241
$243
$246
6-FEB
13-FEB
20-FEB
27-FEB
$218
195
19-DEC
26-DEC
2-JAN
30-JAN
THIS YEAR
6-MAR
LAST YEAR
NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (JANUARY 31 – MARCH 6, 2021)
AVERAGE DAILY RATE ($)
$350
$304 $289 $281 $290 $287 $263 $279 $300 $263 $278 $276 $276 $270 $281 $264 $278 $277 $264 $264 $269 $265 $269 $255 $252 $260 $261 $255 $259 $245 $263 $248 $238 $245 $249 $236 $253 $250 $200 $150 $100 $50
1/ 31 / 2/ 21 1/ 2/ 21 2/ 2/ 21 3/ 2/ 21 4/ 2/ 21 5/ 2/ 21 6/ 2/ 21 7/ 2/ 21 8/ 2/ 21 9 2/ /21 10 2/ /21 11 2/ /21 12 2/ /21 13 2/ /21 14 2/ /21 15 2/ /21 16 2/ /21 17 2/ /21 18 2/ /21 19 2/ /2 20 1 2/ /21 21 2/ /2 22 1 2/ /2 23 1 2/ /2 24 1 2/ /2 25 1 2/ /2 26 1 2/ /21 27 2/ /2 28 1 / 3/ 21 1/ 3/ 21 2/ 3/ 21 3/ 3/ 21 4/ 3/ 21 5/ 3/ 21 6/ 21
$0
SOURCE: MARCH 10, 2021, STR.COM
MARCH 10, 2021 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
9-MAR
7-MAR
5-MAR
3-MAR
1-MAR
27-FEB
25-FEB
23-FEB
21-FEB
19-FEB
17-FEB
15-FEB
13-FEB
11-FEB
9-FEB
7-FEB
5-FEB
2-FEB
31-JAN
29-JAN
27-JAN
25-JAN
23-JAN
21-JAN
19-JAN
17-JAN
15-JAN
13-JAN
11-JAN
9-JAN
7-JAN
5-JAN
3-JAN
1-JAN
30-DEC
28-DEC
26-DEC
24-DEC
0
22-DEC
(YEAR-OVER-YEAR PERCENT CHANGE 2020 vs. 2019/2021 vs. 2020)
-10 -20 -30 -40 -50 -60 -70 -80 -90 -100 CALIFORNIA RESTAURANTS
% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK
LOS ANGELES RESTAURANTS
# OF MONTHLY AIRPORT PASSENGERS (% CHANGE 2020 vs. 2019/2021 vs. 2020) 0%
60%
52%
56%
59% 61% 61%
-20%
50% 40%
42%
46%
31% 30%
30% 20%
40%
38%
18% 17%
18% 12%
10% 0%
0%
0%
8% 0%
9% 0%
-10%
11% 0%
0% DEC DEC DEC JAN JAN JAN JAN FEB FEB FEB FEB MAR 16 23 30 6 13 20 27 3 10 17 24 3 CALI FORNI A LOS ANGELES
SOURCE: OPENTABLE AND SNA/JWA, LAX & LGB AIRPORTS
# OF MONTHLY PASSENGERS (YOY % CHANGE)
PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK
70%
-30% -40% -50% -60% -70% -80%
-64% -66% -68% -72% -74% -76%
-70% -71% -74% -74% -75% -79%
-90%
-81% -82% -81% -85% -86% -87%
-100% JOHN WAYNE AIRPORT
AUG
SEP
LAX
OCT
NOV
LONG BEAC H AIRPORT
DEC
JAN
MARCH 10, 2021 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
(2020 vs. 2019)
$17,811,034
$340,002,302
$300,000,000
$294,119,639
$325,722,868
$16,000,000
(2ND QUARTER 2020 vs. 2019)
$350,000,000
$18,000,000
$3.5
$13,809,783
$2.0
$10,000,000
$200,000,000
$1.5
$8,000,000
$150,000,000
$6,000,000 $4,000,000
$2,768,760
$1.0
$142,280,805
$0.5
$3,329,834
$0.0
$100,000,000
$2,000,000 $0
R
UA RT 3R ER D QU AR TE 4T R H Q UA RT ER
$50,000,000 $0
Q
2ND 3RD QUARTER QUARTER
D 2N
$3.0 $2.5
$250,000,000
$12,000,000
$4.0
2019
L ES OD TA GI N H UR G EA A N D LT T EP H S C AR A A TM P RE FO EN P A O T S RE D L Q & TOR U G IC E R K ET RO S -S A CE ER IL R Y VI G A O U C TO OD E R M S ES TA OTI EL UR VE EC AN TR TS O N IC S
$14,000,000
INT’L VISA CREDIT CARD SPENDING IN NEWPORT BEACH BY CATEGORY
2020
2019
20202
Q2 2019
Q2 2020
U.S. VISA CREDIT CARD SPENDING FROM EACH METRO AREA SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)
(2ND & 3RD QUARTERS 2020 vs. 2019) $15.0 $10.0 $5.0
$9.8
$11.9 $9.0
$3.3
$9.5 $10.5 $9.2 $4.1
$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
$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
$0.0 SAN FRANCISCO
SAN DIEGO
Q2 2019
Q2 2020
Q3 2019
Q3 2020
EXCLUDES LA, RIVERSIDE & ORANGE COUNITES
INT’L VISA CREDIT CARD SPENDING FROM EACH COUNTRY SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)
(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 K OREA
$0.4
$0.0
AUSTRALIA
MARCH 10, 2021 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. 2019/2021 vs. 2020)
YOY % CHANGE IN ACTIVE LISTINGS
MAR 2020 0.0% -5.0% -10.0% -15.0% -20.0% -25.0% -30.0% -35.0% -40.0%
APR 2020
MAY 2020
JUN 2020
JUL 2020
-18.0%
-20.8% -25.3% -30.7%
-26.9%
AUG 2020
SEP 2020
OCT 2020
NOV 2020
-22.9%
-24.1%
DEC 2020
-20.0%
-28.0%
JAN 2021
FEB 2021
-24.1% -33.2%
-33.8%
NEWPORT BEACH REAL ESTATE LISTINGS AVERAGE NUMBER OF DAYS TO SELL
YOY % CHANGE IN AVERAGE # OF DAYS TO SELL
(YEAR-OVER-YEAR PERCENT CHANGE 2020 vs. 2019/2021 vs. 2020) MAR 2020
50.0% 40.0% 30.0% 20.0% 10.0% 0.0% -10.0% -20.0% -30.0% -40.0%
APR 2020
MAY 2020
JUN 2020
JUL 2020
AUG 2020
SEP 2020
OCT 2020
NOV 2020
DEC 2020
JAN 2021
-27.5%
-29.3%
-26.3%
FEB 2021
38.5% 11.8%
10.6%
-1.4%
-6.9%
-15.1%
-11.6% -23.9%
-18.3%
NEWPORT BEACH REAL ESTATE AVERAGE LIST PRICE
(YEAR-OVER-YEAR AVERAGE LIST PRICE 2020 vs. 2019/2021 vs. 2020) $4.5 AVERAGE LIST PRICE (IN MILLIONS $)
$4.0 $3.5
$3.6 $3.4
$3.0
$3.5 $3.1 $3.2 $3.0 $2.8 $2.9
$3.5 $3.5
$3.6 $3.6 $3.1 $3.1
$3.7 $3.7 $3.6 $3.2
$4.1 $3.6 $2.8
$3.2 $3.2
$3.7 $3.5 $3.6
$3.8 $3.0
$2.5 $2.0 $1.5 $1.0 $0.5 $0.0 JAN 2020
FEB 2020
MAR 2020
APR 2020
MAY 2020
JUN 2020
2019 SOURCE: REAL ESTATE ADVERTISING SERVICE: MLS.COM
JUL 2020
2020
AUG 2020
SEP 2020
OCT 2020
NOV 2020
DEC 2020
JAN 2021
FEB 2021
MARCH 10, 2021 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% 15.0% 10.0% 5.0%
5.5% 3.9% 3.9% 3.7% 2.8% 2.9%
16.4% 16.4% 14.9% 14.7% 13.6% 13.5% 13.8% 12.4%11.2% 11.1% 9.5% 9.0% 9.0% 9.3% 8.2% 7.4% 7.5% 6.4%
0.0%
JAN
FEB
MAR
APR
MAY
JUN
CALIFORNIA
JUL
AUG
SEP
OCT
NOV
DEC
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% 0.0%
FEB
MAR
APR
MAY
JUN
JULY
AUG
SEP
OCT
NOV
DEC
1.5%2.2%
-10.0%
-3.3%-4.7%
-20.0%
-19.7% -24.0% -24.0% -26.3% -25.4% -29.8%-30.5% -30.8% -28.5% -29.8% -29.4% -31.6% -30.7% -32.4% -45.3% -46.4% -47.1% -44.3% CALIFORNIA ORANGE COUNTY
-30.0% -40.0% -50.0%
SOURCE: U.S. BUREAU OF LABOR STATISTICS
U.S. AUTOMOBILE SALES BY MONTH # OF AUTOMOBILES SOLD (MILLIONS)
(2020 vs. 2019)
2.0 1.0
1.6
1.5
1.5 0.9
0.5
1.3
1.2
1.5 1.2
1.6
1.4 1.3
1.3
1.4
1.3
1.3
1.4
1.2
1.5
1.5 1.5 0.6
0.6
1.4
1.2 0.6
0.0 MAR 2020
APR 2020
MAY 2020
JUN 2020
JUL 2020
AUG 2020
THIS YEAR
SEP 2020
OCT 2020
NOV 2020
DEC 2020
LAST YEAR
NEWPORT BEACH & COMPANY 1600 NEWPORT CENTER DRIVE, SUITE 120 NEWPORT BEACH, CA 92660 INFO@VISITNEWPORTBEACH.COM 800-94-COAST © 2021. NEWPORT BEACH & COMPANY
JAN 2021
FEB 2021