MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
ORANGE COUNTY UNEMPLOYMENT
TRANSPORTATION 2022 VS. 2021 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 2.5% (DECEMBER 2022) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +10.8% (DECEMBER 2022 vs. DECEMBER 2021) % OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES 90% 90% (FEBRUARY 22 – 28, 2023)
LA
REPORT NEWPORT BEACH HOTELS ( FEBRUARY 19 - 25, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 65.3% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS +14.1% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $309.92 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 59.2%
CALIFORNIA &
RESTAURANT
NEWPORT BEACH SHORT-TERM VACATION RENTALS ( FEBRUARY 19 - 25, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 41.9% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $410.07 NEWPORT BEACH SHORT-TERM RENTALS MONTHLY % CHANGE IN SUPPLY -1.6% JANUARY - FEBRUARY 2023 +18.7% SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES -0.04% -0.11% (FEBRUARY 22 – 28, 2023) ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS NOVEMBER 2022 NOVEMBER 2021 1,014,095 854,393 +18.7% US AUTO MARKET SALES BY MONTH FEBRUARY 2023 FEBRUARY 2022 437,719 1,040,629 -81.5%
MARCH 01, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE DECEMBER 26, 2022 – FEBRUARY 20, 2023 SOURCE: OCAIR.COM SOURCE: U.S. ENERGY INFORMATION DEPT., STR ORANGE COUNTY/JOHN WAYNE AIRPORT (SNA) MONTHLY PASSENGER TRAFFIC (2022, 2021 & 2020)
PASSENGER COUNT GASOLINE/GAL VS HOTEL OCCUPANCY RATE 54.9% 40.3% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% $3.20 $3.33 $3.36 $3.42 $3.52 $3.59 $3.55 $3.55 $3.49 $4.26 $4.32 $4.33 $4.35 $4.51 $4.63 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 $4.46 DEC 26 $4.38 FEB 20 $4.51 JAN 30 JAN 23 JAN 16 JAN 09 JAN 02 FEB 13 FEB 06 CALIFORNIA GAS PRICE NATIONAL GAS PRICE OCCUPANCY RATE 717,400 916,767 958,826 1,003,510 1,001,249 1,049,187 1,030,933 1,014,460 1,079,792 1,014,095 944,146 195,290 227,402 495,592 585,735 730,144 890,185 831,522 783,737 873,422 854,393 847,671 806,386 764,506 337,981 82,342 181,486 239,120 266,986 274,813 307,865 277,020 231,033 AUG JUL FEB APR JUN OCT 25,313 DEC MAR 385,396 360,402 NOV SEP MAY JAN 2021 2020 2022
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
ECONOMIC METRICS
U.S. INFLATION CALCULATOR
U.S. INFLATION CALCULATOR, STR RATE OF INFLATION BY MONTH YOY COMPARISON (2021 – 2023)
SOURCE:
SOURCE:
RATE OF INFLATION VS MONTHLY HOTEL OCCUPANCY RATE (%) JANUARY – DECEMBER 2023 6.5% 7.0% NOV 6.8% 6.2% 8.2% 5.4% AUG DEC 5.3% OCT 7.7% 8.3% 5.4% 1.4% JUN SEP 8.3% JUL JAN 8.6% 5.4% MAY 8.5% 5.0% 9.1% APR 6.4% 2.6% MAR 7.9% FEB 7.5% 8.5% 7.1% 1.7% 4.2% 2022 2023 2021 INFLATION RATE OCT SEP 54.9% AUG JUL APR NOV DEC FEB JUN MAY MAR 6.4% JAN 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) 2023 INFLATION RATE INFLATION RATE VS OCCUPANCY RATE
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
AVG. CREDIT/DEBIT CARD SPEND BY CATEGORY
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND
FEBRUARY 19 – FEBRUARY 25, 2023 SOURCE: ZARTICO
FEBRUARY 19 – FEBRUARY 25 , 2023
MARKETS
45.4% 25.5% 10.8% 4.4% 47.9% 25.2% 1.8% 4.1% 3.7% 10.2% 2023 2022 4.2% Accommodations Y/Y VARIANCE -2.2% Food 6.5% Gas & Service Stations Nightlife -13.7% -12.9% Retail AVG TOTAL SPEND Y/Y VARIANCE $689.86 $251.99 $147.32 $137.03 $131.78 $123.40 $103.10 $101.23 $95.67 Honolulu HI Las Vegas NV $735.35 Sacramento CA Detroit MI Phoenix AZ San Diego CA Los Angeles CA AVG TRANSACTION SPEND Charleston WV San Francisco CA Seattle-Tacoma WA CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 2.8% 3.4% 4.2% 4.2% 5.0% 3.3% 4.6% 3.1% 3.9% 8.6% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS FEBRUARY 19 – FEBRUARY 25 , 2023
SOURCE:
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS FEBRUARY 19 – FEBRUARY 25 , 2023 53.9% 6.3% 4.5% 3.5% 3.4% 2.2% 1.9% 1.9% 1.8% 1.5% Salt Lake City UT San Francisco CA New York NY Los Angeles CA Phoenix AZ Sacramento CA San Diego CA Las Vegas NV Fresno-Visalia CA Palm Springs CA % OF TOTAL VISITORS BY ORIGIN MARKET VISITATION BY ORIGIN MARKET 22.3% 8.5% 7.2% 5.3% 3.7% 3.7% 4.0% 2.7% 2.6% 2.4% 36.5% 10.4% 4.8% 4.0% 4.7% 3.8% 1.9% 1.7% 2.0% 1.6% 43.9% 7.8% 5.4% 5.6% 5.9% 2.1% 1.9% 1.0% 1.3% 44.2% 8.1% 5.7% 5.8% 4.2% 1.8% 1.8% 1.4% 1.0% 1.2% Los Angeles CA Non-US Phoenix AZ Las Vegas NV San Diego CA San Francisco CA Salt Lake City UT Denver CO Sacramento CA Dallas-Ft. Worth TX OVERNIGHT LONG DAY TRIP DAY TRIP SHORT TRIP VISITATION TYPE
NEWPORT
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
OCCUPANCY RATE (2022 & 2021)
NEWPORT
DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF JANUARY 29, 2023 – FEBRUARY 19 , 2023) )
AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
SOURCE: STR
BEACH HOTELS
BEACH HOTELS
NEWPORT BEACH HOTELS WEEKLY
40.6% 51.0% 33.3% 39.6% 37.9% 41.7% 47.3% 49.8% 55.3% 57.3% 54.9% 40.3% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 0 55 110 FEB 19 FEB 12 JAN 22 41.1% JAN 15 DEC 25 JAN 29 JAN 01 JAN 08 DEC 18 FEB 05 2022 2021 WEEKLY OCCUPANCY 47.0% 49.3% 40.2% 65.9% 69.6% 72.1% 50.0% 57.7% 75.9% 87.2% 60.1% 71.5% 75.8% 84.4% 71.2% 75.4% 65.1% 66.8% 71.5% 70.4% 69.6% 52.4% 70.1% 59.3% 70.5% 57.2% 89.0% 57.2% FEB 19 - FEB 25 FEB 12 - FEB 18 FEB 05 - FEB 11 JAN 29 - FEB 04 OCCUPANCY BY MONTH 22.7% 29.6% 38.6% 47.7% 52.7% 62.7% 71.6% 61.7% 58.1% 59.8% 53.5% 51.5% 52.7% 63.8% 62.9% 60.2% 64.2% 73.5% 67.9% 70.1% 68.4% 56.6% 54.9% NOV JUL 37.5% SEP APR FEB JUN 61.0% MAR OCT AUG MAY DEC JAN 2022 2023 2021 2023 v 2022
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF JANUARY 29, 2023 – FEBRUARY 19, 2023)
NEWPORT BEACH HOTELS AVERAGE MONTHLY ADR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY ADR (2022 vs. 2021)
WEEKLY ADR ADR BY MONTH $361.38 $280.70 $301.84 $309.29 $288.38 $283.98 $327.04 $325.47 $305.69 $408.33 $294.73 $291.73 $284.33 $307.97 $296.01 $308.66 $309.72 $309.92 350 450 200 500 250 400 FEB 05 $451.09 FEB 19 JAN 01 $362.84 JAN 08 DEC 18 JAN 22 JAN 15 DEC 25 JAN 29 FEB 12 2022 2021 $283.17 $295.36 $302.35 $312.46 $293.86 $308.67 $294.94 $308.54 $306.77 $306.35 $293.18 $323.76 $302.86 $312.61 $298.76 $321.19 $301.88 $304.84 $307.52 $292.99 $288.31 $308.16 $327.06 $287.58 $289.92 $322.77 $329.41 $320.19 FEB 19 - FEB 25 FEB 05 - FEB 11 FEB 12 - FEB 18 JAN 29 - FEB 04 $243.75 $255.16 $278.18 $296.71 $287.16 $316.50 $338.41 $303.37 $311.15 $338.97 $306.70 $320.66 $323.93 $330.92 $341.95 $359.90 $333.91 $328.49 $334.66 $297.60 150 200 450 250 400 300 JAN NOV $444.09 MAY JUN AUG APR MAR $379.47 OCT $397.40 $403.73 $407.58 DEC SEP JUL FEB 2023 2022 2021 2023 v 2022
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF JANUARY 29, 2023 – FEBRUARY 19, 2023)
NEWPORT BEACH HOTELS AVERAGE MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY REVPAR (2022 vs. 2021)
WEEKLY REVPAR REVPAR BY MONTH $146.66 $230.24 $93.40 $119.60 $117.25 $120.37 $134.28 $162.87 $179.92 $175.11 $149.11 $224.28 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 FEB 05 JAN 01 $118.87 JAN 29 DEC 18 JAN 22 DEC 25 JAN 15 FEB 12 FEB 19 JAN 08 2022 2021 $133.13 $145.70 $121.55 $205.93 $204.62 $222.59 $147.47 $177.98 $232.75 $267.18 $176.30 $231.63 $229.48 $263.83 $212.64 $242.29 $196.63 $203.57 $219.91 $206.17 $200.75 $161.42 $229.38 $170.52 $204.31 $184.67 $293.15 $183.09 FEB 19 - FEB 25 FEB 12 - FEB 18 JAN 29 - FEB 04 FEB 05 - FEB 11 $55.35 $75.46 $141.42 $151.26 $248.99 $199.62 $181.29 $166.41 $174.69 $114.90 $169.04 $206.54 $208.16 $205.89 $278.88 $254.02 $228.53 $200.34 $188.93 $163.45 NOV JUL JUN OCT APR $253.62 MAY $198.54 DEC $326.26 MAR $284.44 FEB $107.24 JAN SEP AUG 2022 2023 2021 2023 v 2022
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTAL METRICS
SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK (WEEKS OF JANUARY 29, 2023 – FEBRUARY 19, 2023) NEWPORT BEACH SHORT-TERM RENTALS MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021) NEWPORT BEACH SHORT-TERM RENTAL WEEKLY OCCUPANCY (2022 vs. 2021)
WEEKLY ADR REVPAR BY MONTH 48.1% 54.1% 34.0% 30.8% 33.5% 32.0% 34.6% 35.3% 39.3% 43.3% 34.6% 46.8% 33.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 0 90 FEB 05 FEB 19 JAN 08 JAN 22 FEB 12 JAN 15 JAN 29 DEC 25 JAN 01 DEC 18 2022 2021 $163.05 $165.88 $185.40 $252.52 $302.18 $196.77 $198.33 $220.18 $257.02 $261.72 $185.43 $176.72 $188.93 $163.45 400 150 250 350 450 100 300 $307.81 $347.86 MAR $266.55 $233.43 MAY APR NOV $190.65 FEB JUN JUL $156.73 $137.18 AUG JAN $123.80 $238.19 SEP $186.77 $418.19 OCT DEC 2022 2023 2021 WEEKLY OCCUPANCY $369.46 $401.73 $415.95 $430.98 $366.02 $394.29 $399.91 $402.81 $357.18 $402.39 $392.84 $405.26 $355.76 $393.05 $400.27 $403.08 $386.41 $404.05 $443.18 $413.52 $395.03 $418.04 $466.99 $409.47 $400.93 $429.66 $457.47 $405.40 FEB 05 - FEB 11 FEB 19 - FEB 25 JAN 29 - FEB 04 FEB 12 - FEB 18 2023 v 2022
SOURCE: STR, KEY DATA DASHBOARD NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2022 & 2023 WEEKLY ADR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2022 & 2023 WEEKLY REVPAR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2022 & 2023 WEEKLY OCCUPANCY
NEWPORT
METRICS WEEKLY 54.9% 40.3% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 34.6% 46.8% 33.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 0 100 JAN 01 DEC 25 41.1% FEB 05 JAN 29 JAN 22 JAN 15 FEB 19 JAN 08 FEB 12 DEC 18 SHORT-TERM RENTAL HOTEL $362.84$408.33 $294.73 $291.73 $284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $631.51 $406.95 $408.99 $375.23 $375.82 $406.17 $425.23 $410.07 0 850 $483.09 FEB 19 $559.44 FEB 05 JAN 22 JAN 01 DEC 25 JAN 29 DEC 18 JAN 15 FEB 12 JAN 08 SHORT-TERM RENTAL HOTEL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $149.11 $118.87 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 $295.45 $127.72 $124.81 $120.24 $125.60 $142.43 $172.59 $172.40 0 400 FEB 12 FEB 05 JAN 29 JAN 22 $224.28 JAN 15 JAN 08 $164.09 JAN 01 DEC 18 FEB 19 $196.52 DEC 25 HOTEL SHORT-TERM RENTAL 2023 2023 2023
MARCH 01, 2023, WEEKLY REPORT
BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS
SOURCE: STR, KEY DATA DASHBOARD NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY ADR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY REVPAR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 MONTHLY OCCUPANCY MARCH 01, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS MONTHLY 54.9% 31.4% 37.9% 0 100 DEC NOV OCT AUG JUL JAN JUN SEP MAY APR FEB MAR SHORT-TERM RENTAL HOTEL $297.60 $418.55 $415.47 0 850 OCT AUG JUL MAY APR MAR DEC NOV SEP FEB JUN JAN SHORT-TERM RENTAL HOTEL MONTHLY OCCUPANCY RATE MONTHLY ADR $163.45 $131.37 $157.84 0 450 NOV SEP MAY APR OCT MAR DEC FEB JUL AUG JAN JUN SHORT-TERM RENTAL HOTEL MONTHLY REVPAR
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY RESTAURANT METRICS
CALIFORNIA & LA DAILY SEATED DINERS FROM ONLINE, PHONE OR WALK-IN
% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK
SOURCE: OPENTABLE.COM 119.0% 0.0% 9.0% 20.0% 33.0% 44.0% -3.0% -4.0% 8.0% -3.0% -44.0% -1.0% -10.0% -1.0% 19.0% 4.0% -18.0% -10.0% -23.0% -19.0% -16.0% -14.0% -3.0% -8.0% -12.0% SUN FEB 26 SAT FEB 25 THU FEB 23 WED FEB 22 TUE FEB 21 -8.0% SUN FEB 19 TUE FEB 28 10.0% MON FEB 27 THU FEB 16 FRI FEB 24 SAT FEB 18 WED FEB 15 TUE FEB 14 MON FEB 13 -7.0% 106.0% -19.0% -11.0% 5.0% FRI FEB 17 SUN FEB 12 -48.0% MON FEB 20 6.0% LOS ANGELES CALIFORNIA 88.0% 87.0% 89.0% 91.0% 92.0% 92.0% 90.0% 91.0% 90.0% 75.0% 83.0% 85.0% 84.0% 85.0% 86.0% 88.0% 89.0% 90.0% 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 FEB 15 FEB 22 FEB 08 FEB 01 JAN 11 JAN 25 JAN 18 DEC 28 JAN 04 82.0% 78.0% DEC 21 LOS ANGELES CALIFORNIA DINERS: DAILY OPEN RESTAURANTS SOURCE: OPENTABLE.COM
MARCH 01, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR JANUARY 2023 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR JANUARY 2023)
SAN DIEGO
MARCH - APRIL 2023
• 03/01 – 05/14: THE FLOWER FIELDS
• 03/26 – 04/02: SAN DIEGO RESTAURANT
WEEK
• 03/31 – 04/02: SAN DIEGO CREW CLASSIC
SANTA BARBARA
MARCH - APRIL 2023
• 03/02 – 03/04: WORLD OF PINOT NOIR
• 03/10 – 03/12: SANTA BARBARA
INTERNAITONAL ORCHID SHOW
LOS ANGELES
MARCH 2023
• 03/17 – 03/18: ST. PATRICK’S DAY BLOCK
PARTY & PUB CRAWLS
• 03/17 – 03/19: LOS ANGELES MARATHON AND THE HEALTH FITNESS EXPO
• 04/29 – 04/30: SANTA BARBARA EARTH DAY FESTIVAL
HUNTINGTON BEACH APRIL 2023
• 04/01: SOCAL CORGI BEACH DAY
• ALL OF APRIL: JACK’S SURFBOARDS PRO
SOURCE: STR $297.60 $219.86 $338.81 $263.97 $733.91 $206.94 $364.69 54.9% 54.6% 64.2% 46.8% 64.5% 57.5% 51.4% 63.0% 59.8% 62.5% 29 37 30 200 330 500 630 $196.99 SANTA MONICA PALM SPRINGS BEVERLY HILLS $179.97 55.7% LA JOLLA IRVINE $179.44 DANA POINT SANTA BARBARA $184.12 HUNTINGTON BEACH ANAHEIM NEWPORT BEACH SAN DIEGO AVERAGE DAILY RATE ($) OCCUPANCY RATE (%)