MAY 5, 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
(APRIL 25-MAY 1, 2021)
OPEN HOTELS (ONLY OPEN HOTELS)
44.4%
(MARCH 2021)
6.4%
(APRIL 25-MAY 1, 2021)
(MARCH 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE
ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE
ALL HOTELS (OPEN & CLOSED HOTELS)
42.0%
-32.3%
(APRIL 25-MAY 1, 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS
+159.7%
(MARCH 2021 vs. MARCH 2020)
NEWPORT BEACH REAL ESTATE (FEBRUARY 2021)
(APRIL 25-MAY 1) 2021 vs. 2020
NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE
$267.51
(APRIL 25-MAY 1, 2021)
CLOSED HOTELS:
# OF HOTEL ROOMS OPEN FOR BOOKING:
FASHION ISLAND HOTEL
# OF HOTEL ROOMS CLOSED:
3,056 295
U.S. AUTOMOBILE SALES (MARCH 2021 vs. 2020)
# OF AUTOMOBILES SOLD YOY % CHANGE
+160%
(MARCH 2021 vs. MARCH 2020)
JOHN WAYNE AIRPORT (SNA) (MARCH 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 APRIL 28-MAY 5, 2021) YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES
-17.5%
-43.9%
(WEEK OF APRIL 28-MAY 5) 2021 vs. 2020
ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS YOY % CHANGE
% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES
(MARCH 2021 vs. MARCH 2020)
(WEEK OF APRIL 28-MAY 5, 2021)
-36%
72%
62%
MAY 5, 2021 WEEKLY REPORT
NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD
HOTEL PERFORMANCE
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE WEEKLY OCCUPANCY RATE (%)
(2021 vs. 2020)
95 85 75 65 55 45 35 25 15 5
88.7%
80.8%
76.2%
65.8% 54.3% 41.9%
30.6%
33.2%
30.9%
30.8%
13-FEB
20-FEB
27-FEB
6-MAR
38.2% 15.3%
33.9%
53.3%
42.6%
THIS YEAR
44.5%
44.4%
9.1%
11.3%
12.5%
15.8%
17.1%
3-APR
10-APR
17-APR
24-APR
1-MAY
8.1%
13-MAR 20-MAR 27-MAR
42.8%
LAST YEAR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF APRIL 4 – MAY 1, 2021)
DAILY OCCUPANCY RATE (%)
80.0%
72.8% 66.1%
70.0% 60.0% 50.0%
70.2%
54.0%
57.0%
56.1% 41.0%
45.0% 49.4% 42.0% 43.4%
30.0%
55.7% 36.2% 40.1% 36.3% 36.5% 34.0%
36.2% 37.1% 40.8% 36.3% 33.7%
33.1% 32.8% 34.4% 31.5%
40.0%
71.9%
70.4%
20.0% 10.0% 0.0%
APRIL 4-10, 2021
APRIL 11-17, 2021 SUN
MON
TUE
APRIL 18-24, 2021 WED
THU
FRI
APRIL 25-MAY 1, 2021
SAT
NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES
SOURCE: APRIL 5 2021, STR.COM
47%
M O N IC A
$252
SA N TA
IN G S PA LM
SP R
H IL L YL Y EV ER
OCCUPANCY RATE (%)
$83 A N A H EI M
$175
S
$499
A RA
E VI N
AVERAGE DAILY RATE ($)
$210
B
$194
IR
PO IN T D A N A
D IE G O SA N
H U N TI N G TO N
BE A C H T
$103
B
$322
61% 32%
BA R
$119
44%
A
$187 …
$279
31%
47%
33%
61%
SA N TA
38%
PO R N EW
50%
JO LL
53%
LA
$600 $500 $400 $300 $200 $100 $0
OCCUPANCY RATE (%)
MONTHLY AVERAGE DAILY RATE ($)
(MONTHLY AVERAGE DAILY RATE & OCCUPANCY RATE FOR MARCH 2021)
80% 60% 40% 20% 0%
MAY 5, 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%
MARCH 28-APRIL 3
APRIL 4-10
APRIL 11-17
APRIL 18-24
APRIL 25-MAY 1
-8.8%
-8.8%
-8.8%
-8.8%
-8.8%
NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF FEBRUARY 13 – MAY 1, 2021)
$350 AVERAGE WEEKLY RATE ($)
$330
$308
$310
$317
$289
$290
$270
$255
$266
$263
$250
$274
$268 $268
$264 $241
$243
$246
13-FEB
20-FEB
27-FEB
$230
$290
$287
$275 $277
$268 $284
$275
$273
$267 $245
$238
$210 6-MAR
13-MAR 20-MAR 27-MAR THIS YEAR
3-APR
10-APR
17-APR
24-APR
1-MAY
LAST YEAR
NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (MARCH 28 – MAY 1, 2021)
AVERAGE DAILY RATE ($)
$400
$342 $319 $328 $312 $328 $350 $296 $303 $330 $309 $315 $301 $306 $297 $299 $292 $293 $297 $314 $304 $305 $280 $280 $272 $272 $285 $284 $300 $270 $279 $258 $280 $272 $266 $267 $245 $237 $250 $200 $150 $100 $50
3/ 28 3/ /2 29 1 3/ /2 30 1 3/ /21 31 / 4/ 21 1/ 4/ 21 2/ 4/ 21 3/ 4/ 21 4/ 4/ 21 5/ 4/ 21 6/ 4/ 21 7/ 4/ 21 8/ 4/ 21 9 4/ /2 10 1 4/ /21 11 4/ /21 12 4/ /21 13 4/ /21 14 4/ /21 15 4/ /21 16 4/ /21 17 4/ /21 18 4/ /21 19 4/ /2 20 1 4/ /21 2 4/ 1/2 22 1 4/ /2 23 1 4/ /2 24 1 4/ /2 25 1 4/ /2 26 1 4/ /2 27 1 4/ /2 28 1 4/ /2 29 1 4/ /2 30 1 / 5/ 21 1/ 21
$0
SOURCE: MAY 5, 2021, STR.COM
MAY 5, 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
M A R M 11 A R M 13 A R M 15 A R M 17 A R M 19 A R M 21 A R M 23 A R M 25 A R M 27 A R M 29 A R A 31 PR 2 A PR 4 A PR 6 A PR 8 A PR 1 A 0 PR 1 A 2 PR 1 A 4 PR 1 A 6 PR 1 A 8 PR 2 A 0 PR 2 A 2 PR 2 A 4 PR 2 A 6 PR 2 A 8 PR 3 M 0 A Y M 2 A Y 4
(YEAR-OVER-YEAR PERCENT CHANGE 2021 vs. 2020)
-10 -20 -30 -40 -50 -60 -70 -80 -90 -100
% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK
80%
71% 72% 69% 70% 70% 67% 68% 68%
70% 60%
52%
56%
62% 59% 61% 61%
50%
55% 53% 54%
40% 40%
30% 20%
31%
42%
46%
57%
60% 59% 60%
62%
48%
30%
10%
LOS ANGELES RESTAURANTS
# OF MONTHLY AIRPORT PASSENGERS (% CHANGE 2020 vs. 2019/2021 vs. 2020) 0% # OF MONTHLY PASSENGERS (YOY % CHANGE)
CALIFORNIA RESTAURANTS
-10% -20% -40%
-36%
-50% -60% -70% -80% -90%
-64% -74% -70% -76%
-70% -74% -72% -74%
-100%
0% FEB FEB FEB FEB MAR MAR MAR MAR MAR APR APR APR APR MAY 3 10 17 24 3 10 17 24 31 7 14 21 28 5 CALI FORNI A LOS ANGELES
SOURCE: OPENTABLE AND SNA/JWA, LAX & LGB AIRPORTS
-15%
-21%
-30%
JOHN WAYNE AIRPORT NOV
DEC
LAX JAN
FEB
-82% -82% -85% -86% LONG BEACH AIRPORT MAR
MAY 5, 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
MAY 5, 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
MAY 5, 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% 14.9% 14.7% 13.6% 13.5% 12.3% 12.4% 10.6% 9.8% 9.5% 9.0%
8.2%
8.7%
6.6%
5.0%
9.3% 9.0% 8.5% 8.3% 7.3% 6.7% 7.4% 6.4%
0.0%
MAY 2020
JUN 2020
JUL 2020
AUG 2020
SEP 2020
CALIFORNIA
OCT 2020
NOV 2020
DEC 2020
JAN 2021
FEB 2021
MAR 2021
ORANGE COUNTY
2020-2021 ORANGE COUNTY MONTHLY NUMBER OF LEISURE & HOSPITALITY EMPLOYEES PERCENT CHANGE (CALIFORNIA vs. ORANGE COUNTY)
YOY PERCENT CHANGE (%)
JUN 2020
JULY 2020
AUG 2020
SEP 2020
OCT 2020
NOV 2020
DEC 2020
JAN 2021
FEB 2021
MAR 2021
0.0% -10.0% -20.0% -30.0% -40.0% -50.0%
-28.5% -29.8% -30.5% -31.6% -30.8% -30.7% -33.9% -36.2%
-24.0% -25.4% -30.2% -34.0% -31.4% -35.4%
CALIFORNIA
-38.8% -41.6%
-33.9% -38.6%
-29.1% -32.3%
ORANGE COUNTY
SOURCE: U.S. BUREAU OF LABOR STATISTICS
U.S. AUTOMOBILE SALES BY MONTH # OF AUTOMOBILES SOLD (MILLIONS)
(2020 vs. 2019)
2.0
1.6
1.5 1.0 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
1.6
1.4
1.2 0.6
0.9
0.0 APR 2020
MAY 2020
JUN 2020
JUL 2020
AUG 2020
SEP 2020
THIS YEAR
OCT 2020
NOV 2020
DEC 2020
JAN 2021
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
FEB 2021
MAR 2021