MARCH 17, 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
(MARCH 7-13, 2021)
OPEN HOTELS (ONLY OPEN HOTELS)
33.9%
(JANUARY 2021)
7.4%
(MARCH 7-13, 2021)
(JANUARY 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
ALL HOTELS (OPEN & CLOSED HOTELS)
30.9%
-42.4%
(MARCH 7-13, 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
-19.4%
(JANUARY 2021 vs. JANUARY 2020)
NEWPORT BEACH REAL ESTATE (FEBRUARY 2021)
(MARCH 7-13) 2021 vs. 2020
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
$268.25
NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE
-33.2%
(FEBRUARY 2021 vs. FEBRUARY 2020)
(MARCH 7-13, 2021)
CLOSED HOTELS:
# OF HOTEL ROOMS OPEN FOR BOOKING:
FASHION ISLAND HOTEL
# OF HOTEL ROOMS CLOSED:
3,056 295
U.S. AUTOMOBILE SALES (FEBRUARY 2021 vs. 2020)
# OF AUTOMOBILES SOLD YOY % CHANGE
-65%
(FEBRUARY 2021 vs. FEBRUARY 2020)
JOHN WAYNE AIRPORT (SNA) (JANUARY 2021)
U.S. VISA SPENDING IN NEWPORT BEACH (3RD QUARTER 2020 VS. 2019)
DOMESTIC U.S. CREDIT CARD SPENDING IN NEWPORT BEACH
-15.6%
(3RD QUARTER 2020 VS. 2019)
CALIFORNIA & LA RESTAURANTS (WEEK OF MARCH 10-17, 2021)
YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES
-46.1%
-64.9%
(WEEK OF MARCH 10-17) 2021 vs. 2020
ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS YOY % CHANGE
% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES
(JANUARY 2021 vs. JANUARY 2020)
(WEEK OF MARCH 10-17, 2021)
-75.8%
67%
53%
MARCH 17, 2021 WEEKLY REPORT
NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD
HOTEL PERFORMANCE
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE WEEKLY OCCUPANCY RATE ($)
(2020 vs. 2019/2021 vs. 2020)
95 85 75 65
CHRISTMAS & NYE WEEK
63.1%
76.6%
74.4%
73.9%
31.1% 21.4%
24.6%
9-JAN
16-JAN
65.7%
VALENTINE’S & PRESIDENTS’ DAY WEEKEND
MLK WEEKEND
23.3%
80.8%
76.2%
58.1%
57.2%
55 45 35 25
88.7%
81.9%
30.6%
24.2%
21.3%
21.9%
30-JAN
6-FEB
42.0%
33.2%
31.1%
30.8% 33.9%
15 26-DEC
2-JAN
23-JAN
13-FEB
THIS YEAR
20-FEB
27-FEB
6-MAR
13-MAR
LAST YEAR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF FEBRUARY 14 – MARCH 13, 2021)
DAILY OCCUPANCY RATE (%)
80.0% 70.0% 60.0%
56.1%
56.6%
52.8%
50.0%
46.1%
40.0%
25.4%34.3% 22.7% 25.0% 22.6%
30.0%
41.7% 27.2%
51.1%
43.3%
39.6%
28.3% 29.6% 25.9% 27.6% 25.8%
26.1% 26.4% 23.2% 27.1% 22.2%
24.2% 23.2% 23.5% 24.5%
20.0% 10.0% 0.0%
FEBRUARY 14-20, 2021
FEBRUARY 21-27, 2021 SUN
MON
TUE
FEB 28 - MAR 6, 2021
WED
THU
FRI
MARCH 7-13, 2021
SAT
NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES
$101
$172
49%
SOURCE: MARCH 17, 2021, STR.COM
$147 IN G S
PA LM
YL Y EV ER B
SP R
H IL L
A RA
S
$451
B BA R
E VI N IR
PO IN T D A N A
D IE G O SA N
AVERAGE DAILY RATE ($)
$234
A
$317
SA N TA
$111
34%
27%
OCCUPANCY RATE (%)
$80
$233 M O N IC A
36%
JO LL
$169
H U N TI N G TO N
BE A C H T
37% 21%
…
$255
27%
47%
SA N TA
30%
PO R N EW
38%
A N A H EI M
41%
LA
$500 $400 $300 $200 $100 $0
OCCUPANCY RATE (%)
MONTHLY AVERAGE DAILY RATE ($)
(MONTHLY AVERAGE DAILY RATE & OCCUPANCY RATE FOR FEBRUARY 2021)
60% 50% 40% 30% 20% 10% 0%
MARCH 17, 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%
FEB 7-13
FEB 14-20
FEB 21-27
FEB 28+MAR 6
MAR 7-13
-8.8%
-8.8%
-8.8%
-8.8%
-8.8%
NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE
(WEEKS OF DECEMBER 26, 2020 – MARCH 13, 2021)
AVERAGE WEEKLY RATE ($)
335
CHRISTMAS & NYE WEEK
315
$301
MLK WEEKEND
VALENTINE’S & PRESIDENTS’ DAY WEEKEND
$311
295 275
$287
$266
$265
$264
$263
$266
$275
255 235 215
26-DEC
2-JAN
$239
$242
$241
9-JAN
16-JAN
23-JAN
$249 30-JAN
$255
$266
$274 $263
$239
$241
$243
$246
6-FEB
13-FEB
20-FEB
27-FEB
THIS YEAR
$268
$264
$268
6-MAR
13-MAR
LAST YEAR
NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (FEBRUARY 7 – MARCH 13, 2021)
AVERAGE DAILY RATE ($)
$350
$275 $304 $281 $290 $276 $289 $279 $263 $268 $278 $277 $278 $264 $264 $276 $275 $270 $262 $269 $268 $263 $261 $255 $259 $260 $264 $269 $265 $255 $253 $248 $256 $238 $236 $245 $250
$300
$200 $150 $100 $50
2/ 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/ 3/ 21 7/ 3/ 21 8/ 3/ 21 9 3/ /21 10 3/ /21 11 3/ /21 12 3/ /21 13 /2 1
$0
SOURCE: MARCH 17, 2021, STR.COM
MARCH 17, 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
0
5-JAN 6-JAN 7-JAN 8-JAN 9-JAN 10-JAN 11-JAN 12-JAN 13-JAN 14-JAN 15-JAN 16-JAN 17-JAN 18-JAN 19-JAN 20-JAN 21-JAN 22-JAN 23-JAN 24-JAN 25-JAN 26-JAN 27-JAN 28-JAN 29-JAN 30-JAN 31-JAN 1-FEB 2-FEB 4-FEB 5-FEB 6-FEB 7-FEB 8-FEB 9-FEB 10-FEB 11-FEB 12-FEB 13-FEB 14-FEB 15-FEB 16-FEB 17-FEB 18-FEB 19-FEB 20-FEB 21-FEB 22-FEB 23-FEB 24-FEB
(YEAR-OVER-YEAR PERCENT CHANGE 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%
50% 38%
40%
10%
62% 59% 61% 61%
56%
-20%
53% 40%
42%
46%
48%
31% 30%
30% 20%
-10%
67%
70%
18% 17%
18% 12%
8% 9%
11%
0% 0% 0% 0% 0% 0%
0% DEC DEC DEC JAN JAN JAN JAN FEB FEB FEB FEB MAR MAR MAR 16 23 30 6 13 20 27 3 10 17 24 3 10 17 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
80%
-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 17, 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 $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 K OREA
$0.4
$0.0
AUSTRALIA
MARCH 17, 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 17, 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%
16.4% 16.4% 14.9% 13.8% 14.7% 13.6% 13.5% 12.3% 12.4% 10.6% 9.8% 9.5% 9.0% 7.5%
8.7%
6.4%
9.3% 7.4%
9.0% 7.4%
DEC 2020
JAN 2021
5.0% 0.0%
APR 2020
MAY 2020
JUN 2020
JUL 2020
AUG 2020
CALIFORNIA
SEP 2020
OCT 2020
NOV 2020
ORANGE COUNTY
2020-2021 ORANGE COUNTY MONTHLY NUMBER OF LEISURE & HOSPITALITY EMPLOYEES PERCENT CHANGE (CALIFORNIA vs. ORANGE COUNTY)
YOY PERCENT CHANGE (%)
APR 2020
MAY 2020
JUN 2020
JULY 2020
AUG 2020
SEP 2020
OCT 2020
NOV 2020
DEC 2020
JAN 2021
0.0% -10.0% -20.0% -30.0% -40.0% -50.0% -46.4% -45.3% -47.1% -44.3%
-28.5% -29.8% -30.5% -31.6% -30.8% -30.7% -33.9% -36.2% CALIFORNIA
-24.0% -25.4% -30.2% -34.0% -31.4% -35.4%
-38.9% -42.4%
ORANGE COUNTY
SOURCE: U.S. BUREAU OF LABOR STATISTICS
U.S. AUTOMOBILE SALES BY MONTH # OF AUTOMOBILES SOLD (MILLIONS)
(2020 vs. 2019)
2.0 1.0
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