ORANGE COUNTY UNEMPLOYMENT TRANSPORTATION 2023 VS. 2022 VS. 2021 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.4% (JANUARY 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +9.6% (JANUARY 2023 vs. JANUARY 2022) % OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES 97% 95% (MARCH 15 - 21, 2023) CALIFORNIA & LA RESTAURANT REPORT NEWPORT BEACH HOTELS (MARCH 12 - 18, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 69.7% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS -.06% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $339.95 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 62.5%
WEEKLY REPORT
EXECUTIVE SUMMARY NEWPORT BEACH SHORT-TERM VACATION RENTALS (MARCH 12 - 18, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 54.8% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $529.35 NEWPORT BEACH SHORT-TERM RENTALS MONTHLY % CHANGE IN SUPPLY -.86% FEBRUARY - MARCH 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 15 - 21, 2023) ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS DECEMBER 2022 DECEMBER 2021 944,146 847,671 +11.4% US AUTO MARKET SALES BY MONTH FEBRUARY 2023 FEBRUARY 2022 602,282 1,040,629 -53.3%
MARCH 23, 2023,
NEWPORT BEACH & COMPANY
MARCH 23, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JANUARY 16, 2023 – MARCH 13, 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 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 69.7% $3.42 $3.52 $3.59 $3.55 $3.55 $3.49 $3.46 $3.50 $3.59 $4.35 $4.38 $4.46 $4.51 $4.51 $4.63 $4.69 $4.81 $4.83 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 JAN 23 JAN 30 FEB 06 FEB 13 JAN 16 FEB 27 MAR 06 MAR 13 FEB 20 OCCUPANCY RATE NATIONAL GAS PRICE CALIFORNIA GAS PRICE 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 82,342 181,486 239,120 266,986 274,813 307,865 277,020 231,033 360,402 JAN FEB 385,396 MAR 25,313 APR MAY JUN JUL AUG SEP OCT NOV DEC 2021 2020 2022
MARCH 23, 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 1.4% 7.5% 6.4% JAN 1.7% 7.9% 6.0% FEB 2.6% 8.5% MAR 4.2% 8.3% APR 5.0% 8.6% MAY 5.4% 9.1% JUN 5.4% 8.5% JUL 5.3% 8.3% AUG 5.4% 8.2% SEP 6.2% 7.7% OCT 6.8% 7.1% NOV 7.0% 6.5% DEC 2022 2023 2021 INFLATION RATE 54.9% JAN FEB MAR APR MAY JUN 6.4% AUG SEP OCT NOV DEC 6.0% 65.7% JUL 2023 INFLATION RATE 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) INFLATION RATE VS OCCUPANCY RATE
AVG.
MARCH 23, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
CARD SPEND BY CATEGORY
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND
MARCH 12 – MARCH 18, 2023 SOURCE: ZARTICO
MARCH 12 – MARCH 18 , 2023
MARKETS
CREDIT/DEBIT
40.6% 34.3% 5.7% 4.2% 48.6% 26.1% 8.1% 4.6% 4.1% 2.4% 2022 2023 -6.4% 48.4% -10.8% -11.6% 165.8% Retail Accommodations Food Business & Professional Y/Y VARIANCE Gas & Service Stations AVG TOTAL SPEND Y/Y VARIANCE $1,564.58 $265.25 $211.55 $180.01 Las Vegas NV Minneapolis MN Palm Springs CA $139.13 San Diego CA $137.37 Seattle-Tacoma WA $131.99 Philadelphia PA $108.14 Sacramento CA $93.74 San Francisco CA $77.95 Los Angeles CA AVG TRANSACTION SPEND Phoenix AZ CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 0.3% 4.1% 0.9% 1.6% 6.6% 1.4% 4.7% 2.5% 4.1% 41.0% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
MARCH 23, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS MARCH 12 – MARCH 18, 2023
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS MARCH 12 – MARCH 18, 2023 43.9% 6.9% 5.0% 4.5% 4.1% 2.4% 2.4% 1.8% 1.5% 1.5% San Diego CA Phoenix AZ Las Vegas NV San Francisco CA Los Angeles CA Salt Lake City UT Dallas-Ft. Worth TX Palm Springs CA New York NY Sacramento 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 23, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF FEBRUARY 19, 2023 – MARCH 12 , 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)
39.6% 37.9% 41.7% 47.3% 49.8% 55.3% 57.3% 57.1% 68.7% 66.9% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 69.7% 0 55 110 JAN 29 FEB 05 FEB 12 JAN 08 FEB 26 MAR 05 MAR 12 JAN 22 JAN 15 FEB 19 2022 2023 WEEKLY OCCUPANCY 65.9% 49.1% 47.8% 53.8% 57.7% 62.4% 67.8% 68.9% 71.5% 71.8% 86.1% 73.6% 75.4% 69.9% 93.1% 76.2% 70.4% 64.2% 88.2% 72.0% 59.3% 62.7% 71.6% 71.1% 57.2% 64.8% 71.0% 72.0% FEB 19 - FEB 25 FEB 26 - MAR 04 MAR 05 - MAR 11 MAR 12 - MAR 18 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% 63.8% 62.9% 60.2% 64.2% 73.5% 67.9% 70.1% 68.4% 56.6% 54.9% 65.7% MAR APR MAY FEB 37.5% JUN 52.7% JAN JUL AUG SEP OCT 61.0% NOV DEC 2022 2023 2021
MARCH 23, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF FEBRUARY 19, 2023 – MARCH 12, 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 $301.84$309.29 $288.38 $283.98 $327.04 $325.47 $305.69 $304.96 $303.79 $361.06 $291.73$284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 $329.20 $339.95 220 240 260 280 320 340 200 360 380 MAR 05 FEB 26 FEB 12 FEB 05 MAR 12 JAN 29 JAN 22 JAN 15 JAN 08 FEB 19 2022 2023 $312.46 $315.24 $294.86 $341.47 $308.54 $303.19 $294.19 $342.29 $323.76 $302.10 $332.43 $348.65 $321.19 $301.74 $353.95 $342.88 $292.99 $287.56 $339.36 $333.37 $287.58 $295.53 $331.09 $341.72 $320.19 $299.72 $334.86 $329.40 FEB 19 - FEB 25 FEB 26 - MAR 04 MAR 05 - MAR 11 MAR 12 - MAR 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 $297.60 150 200 250 300 400 450 MAY $379.47 JUN $397.40 $444.09 APR JUL $403.73 MAR $407.58 FEB AUG SEP OCT NOV $308.49 JAN DEC 2022 2023 2021
MARCH 23, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF FEBRUARY 19, 2023 – MARCH 12, 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 $119.60 $117.25 $120.37 $134.28 $162.87 $179.92 $175.11 $174.14 208.64 $241.66 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 247.25 $236.77 JAN 29 FEB 05 FEB 12 FEB 19 JAN 08 MAR 05 MAR 12 $190.85 JAN 22 JAN 15 FEB 26 2022 2023 $205.93 $154.87 $140.90 $183.80 $177.98 $189.14 $199.51 $235.82 $231.63 $216.94 $286.36 $256.46 $242.29 $210.91 $329.60 $261.19 $206.17 $184.60 $299.28 $240.18 $170.52 $185.25 $237.21 $242.87 $183.09 $194.22 $237.89 $237.10 FEB 19 - FEB 25 FEB 26 - MAR 04 MAR 05 - MAR 11 MAR 12 - MAR 18 $55.35 $75.46 $141.42 $151.26 $248.99 $199.62 $181.29 $166.41 $174.69 $114.90 $206.54 $208.16 $205.89 $278.88 $254.02 $228.53 $200.34 $188.93 $163.45 $202.61 $169.04 FEB $107.24 MAR APR MAY $198.54 $253.62 JUN $284.44 $326.26 JAN JUL AUG SEP OCT NOV DEC 2022 2023 2021
MARCH 23, 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 19, 2023 – MARCH 12, 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 30.8% 33.5% 32.0% 34.6% 35.3% 39.3% 43.3% 35.6% 45.3% 53.0% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 41.9% 54.8% 0 90 JAN 22 JAN 15 MAR 05 FEB 26 FEB 19 FEB 12 MAR 12 FEB 05 JAN 29 JAN 08 2022 2023 $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 $188.93 100 150 250 300 350 400 450 $123.80 $122.70 JAN $137.18 $190.65 $149.77 FEB $192.38 MAR APR $233.43 MAY $347.86 JUN $418.19 JUL $266.55 $307.81 AUG $238.19 SEP $186.77 OCT NOV DEC 2022 2023 2021 WEEKLY OCCUPANCY $430.98 $382.01 $407.15 $524.92 $402.81 $370.44 $417.12 $531.60 $405.26 $387.50 $428.97 $530.96 $403.08 $400.78 $460.30 $529.76 $413.52 $415.33 $463.71 $535.75 $409.47 $424.10 $491.62 $526.63 $405.40 $420.95 $488.50 $525.84 FEB 19 - FEB 25 FEB 26 - MAR 04 MAR 05 - MAR 11 MAR 12 - MAR 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
COMPANY
RENTALS
HOTELS METRICS WEEKLY 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 69.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 41.9% 54.8% 0 100 JAN 15 JAN 22 JAN 29 FEB 05 JAN 08 FEB 19 FEB 26 MAR 05 MAR 12 FEB 12 HOTEL SHORT-TERM RENTAL $291.73$284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 $329.20 $339.95 $406.95$408.99 $375.23 $375.82 $406.17 $425.23 $410.07 $400.16 $451.05 $529.35 0 850 JAN 15 JAN 22 JAN 29 FEB 05 JAN 08 FEB 19 FEB 26 MAR 05 MAR 12 FEB 12 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $160.25$159.34 $200.62 $200.24 $206.99 $200.06 $202.52 $190.85 $247.25 $236.77 $127.72$124.81 $120.24 $125.60 $142.43 $172.59 $172.40 $135.26 $190.65 $290.06 0 400 JAN 29 FEB 05 FEB 12 JAN 08 FEB 26 MAR 05 JAN 22 JAN 15 MAR 12 FEB 19 HOTEL SHORT-TERM RENTAL
MARCH 23, 2023, WEEKLY REPORT NEWPORT 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 23, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
RENTALS VS. HOTELS METRICS MONTHLY 54.9% 65.7% 31.1% 38.4% 41.4% 0 100 MAR APR MAY JUN JUL JAN SEP OCT NOV DEC FEB AUG HOTEL SHORT-TERM RENTAL $297.60 $308.49 $394.19 $390.62 $464.43 0 850 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL MONTHLY OCCUPANCY RATE MONTHLY ADR $163.45 $202.61 $122.70 $149.77 $192.38 0 450 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL MONTHLY REVPAR
SHORT-TERM
MARCH 23, 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% 33.0% 19.0% SUN FEB 19 4.0% MON FEB 20 -8.0% TUE FEB 21 -3.0% -10.0% WED FEB 22 -4.0% -3.0% THU FEB 23 -12.0% FRI FEB 24 -8.0% SAT FEB 25 5.0% SUN FEB 26 -7.0% MON FEB 27 -3.0% TUE FEB 28 -3.0% WED MAR 01 1.0% THU MAR 02 FRI MAR 03 10.0% SAT MAR 04 11.0% 13.0% SUN MAR 05 14.0% MON MAR 06 TUE MAR 07 CALIFORNIA
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 JAN 04 JAN 11 JAN 18 JAN 25 DEC 28 FEB 08 FEB 15 FEB 22 MAR 01 FEB 01 CALIFORNIA LOS ANGELES DINERS: DAILY OPEN RESTAURANTS SOURCE: OPENTABLE.COM
LOS ANGELES
MARCH 23, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR FEBRUARY 2023
(AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR FEBRUARY 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
LOS ANGELES
APRIL 2023
• 04/14 – 04/16: 2023 UNIVERSE
MULTICULTURAL FILM FESTIVAL
• 04/21: EARTH DAY SUMMIT
SANTA BARBARA
APRIL/MAY 2023
• 04/29 – 04/30: SANTA BARBARA
EARTH DAY FESTIVAL
• 05/15 – 05/21: TASTE OF SANTA BARBARA
HUNTINGTON BEACH
APRIL 2023
• 04/01: SOCAL CORGI BEACH DAY
• ALL OF APRIL: JACK’S SURFBOARDS PRO
$308.49 $234.87 $205.20 $354.97 $269.76 $222.68 $732.31 $236.36 $238.17 $385.49 65.7% 64.6% 76.6% 59.3% 73.0% 71.7% 63.9% 74.4% 70.5% 72.4% 10 30 200 330 500 630
$183.63 IRVINE
62.9% BEVERLY
SANTA
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
SOURCE: STR
HUNTINGTON BEACH SAN DIEGO DANA POINT
LA JOLLA
NEWPORT
BEACH
HILLS PALM SPRINGS ANAHEIM SANTA MONICA
BARBARA