MARCH 16, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
TRANSPORTATION 2023 VS. 2022 VS. 2021 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 2.5% (DECEMBER 2022) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +9.6% (DECEMBER 2022 vs. DECEMBER 2021) % OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES 97% 95% (MARCH 08 - 14, 2023) CALIFORNIA & LA RESTAURANT REPORT NEWPORT BEACH HOTELS ( MARCH 05 - 11, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 75.1% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS +9.4% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $329.20 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 68.1%
ORANGE COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS ( MARCH 05 - 11, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 41.9% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $451.05 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 -0.12% -0.04% (MARCH 08 - 14, 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 602,282 1,040,629 -53.3%
MARCH 16, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JANUARY 02, 2023 – FEBRUARY 27, 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% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% $3.36 $3.42 $3.52 $3.59 $3.55 $3.55 $3.49 $3.46 $3.50 $4.33 $4.35 $4.38 $4.46 $4.51 $4.51 $4.63 $4.69 $4.81 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 4.0 4.5 5.0 0 10 20 30 40 50 60 70 80 MAR 06 JAN 30 FEB 06 FEB 27 FEB 13 JAN 23 FEB 20 JAN 09 JAN 16 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 MAR JUL JUN 385,396 APR 25,313 NOV FEB MAY DEC SEP JAN OCT 360,402 2021 2020 2022
MARCH 16, 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 6.0% DEC 6.5% 7.1% 6.8% OCT 6.2% 8.2% 5.4% AUG 8.3% 5.3% 8.5% 8.3% JUL JUN JAN 8.5% 9.1% NOV 7.7% 8.6% 2.6% APR 7.0% 5.4% MAY 4.2% SEP MAR FEB 7.9% 5.4% 1.7% 6.4% 1.4% 7.5% 5.0% 2023 2022 2021 INFLATION RATE OCT SEP AUG JUL JUN MAY NOV 54.9% FEB JAN DEC 6.4% APR MAR 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) 2023 INFLATION RATE INFLATION RATE VS OCCUPANCY RATE
MARCH 16, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
BY CATEGORY
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND MARKETS MARCH 05 – MARCH 11, 2023 SOURCE: ZARTICO AVG. CREDIT/DEBIT
MARCH 05 – MARCH 11 , 2023
CARD SPEND
46.9% 22.3% 10.2% 5.2% 47.1% 25.7% 9.9% 4.7% 3.6% 2.1% 2023 2022 Accommodations Transportation -4.1% Food -18.0% -10.0% Gas & Service Stations -8.4% -2.2% Y/Y VARIANCE Retail AVG TOTAL SPEND Y/Y VARIANCE $2,683.64 $2,423.46 $955.81 $83.94 $86.52 $158.92 Phoenix AZ San Francisco CA $120.77 Seattle-Tacoma WA Indianapolis IN Las Vegas NV $285.93 Sacramento CA Minot ND Sioux City IA Los Angeles CA $249.87 San Diego CA $269.70 AVG TRANSACTION SPEND CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 4.4% 6.8% 4.5% 4.0% 3.8% 2.9% 2.8% 8.8% 3.6% 4.8% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
MARCH 16, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS MARCH 05 – MARCH 11, 2023
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS MARCH 05 – MARCH 11, 2023 44.1% 8.7% 3.8% 3.8% 3.1% 2.2% 1.9% 1.7% 1.7% 1.7% Palm Springs CA Sacramento CA San Francisco CA Santa Barbara CA Phoenix AZ Las Vegas NV Salt Lake City UT San Diego CA Chicago IL Los Angeles 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
MARCH 16, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF FEBRUARY 12, 2023 – MARCH 05 , 2023) )
NEWPORT BEACH HOTELS AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
33.3% 39.6% 37.9% 41.7% 47.3% 49.8% 55.3% 57.3% 57.1% 68.7% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 0 55 110 FEB 12 JAN 08 FEB 26 FEB 05 JAN 29 JAN 22 FEB 19 MAR 05 40.3% JAN 15 JAN 01 2023 2022 WEEKLY OCCUPANCY 40.2% 65.9% 49.1% 47.8% 50.0% 57.7% 62.4% 67.8% 60.1% 71.5% 71.8% 86.1% 71.2% 75.4% 69.9% 93.1% 71.5% 70.4% 64.2% 88.2% 70.1% 59.3% 62.7% 71.6% 89.0% 57.2% 64.8% 71.0% MAR 05 - MAR 11 FEB 19 - FEB 25 FEB 12 - FEB 18 FEB 26 - MAR 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 61.0% SEP AUG OCT APR JUL MAR DEC FEB 37.5% JUN MAY JAN 2022 2023 2021
MARCH 16, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF FEBRUARY 12, 2023 – MARCH 05, 2023)
NEWPORT BEACH HOTELS AVERAGE MONTHLY ADR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY ADR (2023 v 2022)
WEEKLY ADR ADR BY MONTH $280.70 $301.84 $309.29 $288.38 $283.98 $327.04 $325.47 $305.69 $304.96 $294.73 $291.73 $284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 320 220 240 200 280 340 260 JAN 01 FEB 26 $303.79 JAN 22 JAN 08 FEB 12 MAR 05 FEB 19 FEB 05 JAN 15 JAN 29 $329.20 2023 2022 $302.35 $312.46 $315.24 $294.86 $294.94 $308.54 $303.19 $294.19 $293.18 $323.76 $302.10 $332.43 $298.76 $321.19 $301.74 $353.95 $307.52 $292.99 $287.56 $339.36 $327.06 $287.58 $295.53 $331.09 $329.41 $320.19 $299.72 $334.86 MAR 05 - MAR 11 FEB 26 - MAR 04 FEB 19 - FEB 25 FEB 12 - FEB 18 $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 $297.60 450 250 200 400 300 150 SEP AUG JUN $397.40 $379.47 DEC JAN MAY MAR $403.73 JUL $407.58 APR OCT $444.09 FEB NOV 2022 2023 2021
MARCH 16, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF FEBRUARY 12, 2023 – MARCH 05, 2023)
NEWPORT BEACH HOTELS AVERAGE MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
NEWPORT BEACH HOTELS WEEKLY REVPAR (2023 v 2022)
WEEKLY REVPAR REVPAR BY MONTH $93.40 $119.60 $117.25 $120.37 $134.28 $162.87 $179.92 $175.11 $174.14 208.64 $118.87 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 247.25 FEB 19 FEB 12 JAN 29 MAR 05 JAN 08 FEB 26 JAN 15 JAN 22 $190.85 FEB 05 JAN 01 2023 2022 $121.55 $205.93 $154.87 $140.90 $147.47 $177.98 $189.14 $199.51 $176.30 $231.63 $216.94 $286.36 $212.64 $242.29 $210.91 $329.60 $219.91 $206.17 $184.60 $299.28 $229.38 $170.52 $185.25 $237.21 $293.15 $183.09 $194.22 $237.89 MAR 05 - MAR 11 FEB 26 - MAR 04 FEB 19 - FEB 25 FEB 12 - FEB 18 $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 SEP NOV $326.26 $198.54 $284.44 MAR JUN APR OCT DEC JAN $253.62 $107.24 AUG FEB JUL MAY 2023 2022 2021
MARCH 16, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTAL METRICS
NEWPORT BEACH SHORT-TERM RENTAL WEEKLY OCCUPANCY (2023 v 2022)
NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK (WEEKS OF FEBRUARY 12, 2023 – MARCH 05, 2023)
NEWPORT BEACH SHORT-TERM RENTALS MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO
WEEKLY ADR REVPAR BY MONTH 34.0% 30.8% 33.5% 32.0% 34.6% 35.3% 39.3% 43.3% 35.6% 45.3% 33.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 41.9% 0 90 FEB 19 FEB 12 FEB 05 JAN 01 JAN 22 JAN 29 JAN 08 JAN 15 FEB 26 MAR 05 2023 2022 $163.05 $165.88 $185.40 $252.52 $302.18 $196.77 $198.33 $220.18 $156.73 $257.02 $261.72 $185.43 $176.72 $188.93 250 150 400 350 100 300 450 $149.77 JUN $347.86 OCT MAY MAR FEB $266.55 $192.38 JAN $418.19 $190.65 $122.70 $123.80 $137.18 $233.43 $307.81 NOV AUG APR $238.19 $186.77 JUL DEC SEP 2022 2023 2021 WEEKLY OCCUPANCY $415.95 $430.98 $382.01 $407.15 $399.91 $402.81 $370.44 $417.12 $392.84 $405.26 $387.50 $428.97 $400.27 $403.08 $400.78 $460.30 $443.18 $413.52 $415.33 $463.71 $466.99 $409.47 $424.10 $491.62 $457.47 $405.40 $420.95 $488.50 MAR 05 - MAR 11 FEB 26 - MAR 04 FEB 19 - FEB 25 FEB 12 - FEB 18
SOURCE: STR, KEY DATA DASHBOARD NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY ADR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY REVPAR NEWPORT BEACH SHORT-TERM RENTALS VS. HOTELS 2023 WEEKLY OCCUPANCY
WEEKLY
NEWPORT
& COMPANY
RENTALS
HOTELS METRICS WEEKLY 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 33.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 41.9% 0 100 MAR 05 FEB 26 FEB 19 FEB 05 JAN 29 JAN 22 JAN 08 JAN 15 40.3% JAN 01 FEB 12 SHORT-TERM RENTAL HOTEL $294.73$291.73 $284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 $329.20 $483.09 $406.95 $408.99 $375.23 $375.82 $406.17 $425.23 $410.07 $400.16 $451.05 0 850 FEB 12 FEB 05 JAN 29 FEB 19 JAN 15 JAN 01 FEB 26 MAR 05 JAN 22 JAN 08 SHORT-TERM RENTAL HOTEL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $118.87 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 $190.85 $247.25 $164.09 $127.72 $124.81 $120.24 $125.60 $142.43 $172.59 $172.40 $135.26 $190.65 0 400 FEB 12 FEB 26 FEB 19 FEB 05 JAN 29 MAR 05 JAN 22 JAN 15 JAN 08 JAN 01 SHORT-TERM RENTAL HOTEL
MARCH 16, 2023,
REPORT
BEACH
SHORT-TERM
VS.
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 16, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
RENTALS VS. HOTELS METRICS MONTHLY 54.9% 31.1% 38.4% 41.4% 0 100 DEC MAY OCT AUG JUN JUL JAN NOV FEB APR SEP MAR SHORT-TERM RENTAL HOTEL $297.60 $394.19 $390.62 $464.43 0 850 NOV DEC JUN OCT FEB MAY SEP JUL APR JAN AUG MAR SHORT-TERM RENTAL HOTEL MONTHLY OCCUPANCY RATE MONTHLY ADR $163.45 $122.70 $149.77 $192.38 0 450 OCT JUN MAY NOV APR DEC MAR FEB SEP JAN AUG JUL SHORT-TERM RENTAL HOTEL MONTHLY REVPAR
SHORT-TERM
MARCH 16, 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 44.0% 8.0% 8.0% 11.0% 13.0% 35.0% -18.0% -23.0% -19.0% -16.0% -14.0% -11.0% -3.0% 7.0% 14.0% 10.0% 1.0% -3.0% MON MAR 06 SAT MAR 04 FRI MAR 03 11.0% THU MAR 02 WED MAR 01 -3.0% -7.0% SUN FEB 26 14.0% TUE MAR 07 FRI FEB 24 -12.0% THU FEB 23 13.0% MON FEB 27 SAT FEB 25 -10.0% -3.0% -4.0% SUN MAR 05 5.0% 19.0% TUE FEB 21 -3.0% -8.0% WED FEB 22 TUE FEB 28 MON FEB 20 SUN FEB 19 4.0% 33.0% -8.0% CALIFORNIA LOS ANGELES 88.0% 87.0% 89.0% 91.0% 92.0% 92.0% 90.0% 91.0% 90.0% 92.0% 82.0% 83.0% 85.0% 84.0% 85.0% 86.0% 88.0% 89.0% 90.0% 91.0% 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 MAR 01 FEB 22 FEB 15 FEB 08 DEC 28 JAN 04 JAN 25 JAN 18 FEB 01 JAN 11 CALIFORNIA LOS ANGELES DINERS: DAILY OPEN RESTAURANTS SOURCE: OPENTABLE.COM
MARCH 16, 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
APRIL 2023
• 04/29 – 04/30: SANTA BARBARA EARTH DAY FESTIVAL
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
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 (%)