MARCH 09, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
ORANGE
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 97% 95% (MARCH 01 - 07, 2023) CALIFORNIA & LA RESTAURANT REPORT NEWPORT BEACH HOTELS ( FEBRUARY 19 - 25, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 63.6% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS +11.3% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $300.28 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 57.6%
COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS ( FEBRUARY 19 - 25, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 33.6% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $400.16 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 01 - 07, 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 09, 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 40.3% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% $3.33 $3.36 $3.42 $3.52 $3.59 $3.55 $3.55 $3.49 $3.46 $4.32 $4.33 $4.35 $4.51 $4.63 $4.69 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 FEB 20 FEB 27 JAN 02 FEB 13 $4.51 FEB 06 JAN 23 $4.46 JAN 16 JAN 30 $4.38 JAN 09 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 OCT SEP JUN APR JUL 25,313 MAR NOV 385,396 MAY JAN 360,402 DEC FEB AUG 2020 2021 2022
MARCH 09, 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 09, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
CARD SPEND BY CATEGORY
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND MARKETS FEBRUARY 26 – MARCH 04, 2023 SOURCE: ZARTICO
CREDIT/DEBIT
FEBRUARY 26 – MARCH 04 , 2023
AVG.
35.9% 40.0% 6.4% 3.9% 49.3% 22.3% 9.0% 3.2% 4.3% 3.8% 2023 2022 133.8% -9.5% 4.2% 109.7% -2.9% Accommodations Food Y/Y VARIANCE Business & Professional Retail Gas & Service Stations AVG TOTAL SPEND Y/Y VARIANCE Salt Lake City UT $93.84 San Francisco CA Sacramento CA $82.10 $183.07 San Diego CA Los Angeles CA Kansas City MO $163.04 $139.89 $139.04 AVG TRANSACTION SPEND Santa Barbara CA Phoenix AZ Seattle-Tacoma WA Detroit MI $85.87 $21,641.82 $899.94 $2,563.84 CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 0.3% 0.1% 0.7% 1.0% 1.8% 7.6% 2.9% 4.4% 3.1% 42.9% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
MARCH 09, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS FEBRUARY 26 – MARCH 04 , 2023
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS FEBRUARY 26 – MARCH 04 , 2023 49.5% 7.0% 4.0% 3.8% 3.3% 2.8% 1.9% 1.7% 1.6% 1.2% Chicago IL Salt Lake City UT Palm Springs CA Sacramento CA Las Vegas NV Phoenix AZ San Francisco CA Los Angeles CA New York NY San Diego 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 09, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2022 & 2021)
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF FEBRUARY 05, 2023 – FEBRUARY 26, 2023) )
NEWPORT BEACH HOTELS AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
SOURCE: STR
33.3% 39.6% 37.9% 41.7% 47.3% 49.8% 55.3% 57.3% 57.1% 54.9% 40.3% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 0 55 110 JAN 29 FEB 05 JAN 22 FEB 19 FEB 12 DEC 25 FEB 26 JAN 08 JAN 01 51.0% JAN 15 2022 2021 WEEKLY OCCUPANCY 49.3% 40.2% 65.9% 49.1% 72.1% 50.0% 57.7% 62.4% 87.2% 60.1% 71.5% 71.8% 84.4% 71.2% 75.4% 69.9% 66.8% 71.5% 70.4% 64.2% 52.4% 70.1% 59.3% 62.7% 57.2% 89.0% 57.2% 64.8% FEB 26 - MAR 04 FEB 12 - FEB 18 FEB 19 - FEB 25 FEB 05 - FEB 11 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% 61.0% OCT APR MAR FEB SEP DEC NOV JUL JUN MAY JAN 37.5% AUG 2022 2023 2021 2023 v 2022
MARCH 09, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF FEBRUARY 05, 2023 – FEBRUARY 26, 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 $451.09 $280.70 $301.84 $309.29 $288.38 $283.98 $327.04 $325.47 $305.69 $304.96 $408.33 $294.73 $291.73 $284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 500 400 350 450 200 250 JAN 15 FEB 26 JAN 01 DEC 25 JAN 08 JAN 29 FEB 05 FEB 19 JAN 22 FEB 12 2021 2022 $295.36 $302.35 $312.46 $315.24 $308.67 $294.94 $308.54 $303.19 $306.35 $293.18 $323.76 $302.10 $312.61 $298.76 $321.19 $301.74 $304.84 $307.52 $292.99 $287.56 $308.16 $327.06 $287.58 $295.53 $322.77 $329.41 $320.19 $299.72 FEB 19 - FEB 25 FEB 12 - FEB 18 FEB 26 - MAR 04 FEB 05 - FEB 11 $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 $297.60 200 300 400 250 150 450 $397.40 $379.47 OCT JUN MAY SEP MAR FEB AUG JUL JAN NOV APR $403.73 $407.58 $444.09 DEC 2023 2022 2021 2023 v 2022
MARCH 09, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF FEBRUARY 05, 2023 – FEBRUARY 26, 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 $230.24 $93.40 $119.60 $117.25 $120.37 $134.28 $162.87 $179.92 $175.11 $174.14 $224.28 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 $190.85 JAN 08 FEB 12 JAN 29 JAN 22 FEB 26 JAN 15 JAN 01 DEC 25 FEB 05 $118.87 FEB 19 2022 2021 $145.70 $121.55 $205.93 $154.87 $222.59 $147.47 $177.98 $189.14 $267.18 $176.30 $231.63 $216.94 $263.83 $212.64 $242.29 $210.91 $203.57 $219.91 $206.17 $184.60 $161.42 $229.38 $170.52 $185.25 $184.67 $293.15 $183.09 $194.22 FEB 26 - MAR 04 FEB 19 - FEB 25 FEB 05 - FEB 11 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 JUL $326.26 $284.44 $253.62 JUN MAY APR OCT JAN $107.24 DEC NOV FEB $198.54 AUG MAR 2022 2023 2021 2023 v 2022
MARCH 09, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTAL METRICS
SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO
DAY OF WEEK (WEEKS OF FEBRUARY 05, 2023 – FEBRUARY 26, 2023)
NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY
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 54.1% 34.0% 30.8% 33.5% 32.0% 34.6% 35.3% 39.3% 43.3% 35.6% 33.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 0 90 FEB 26 FEB 19 JAN 08 FEB 12 JAN 22 JAN 15 FEB 05 JAN 01 DEC 25 46.8% JAN 29 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 $163.45 100 150 250 300 350 450 400 MAY $233.43 APR $266.55 MAR FEB $137.18 NOV JAN $347.86 DEC $123.80 JUL SEP JUN $307.81 AUG $238.19 $186.77 $418.19 OCT $156.73 $190.65 2023 2022 2021 WEEKLY OCCUPANCY $401.73 $415.95 $430.98 $382.01 $394.29 $399.91 $402.81 $370.44 $402.39 $392.84 $405.26 $387.50 $393.05 $400.27 $403.08 $400.78 $404.05 $443.18 $413.52 $415.33 $418.04 $466.99 $409.47 $424.10 $429.66 $457.47 $405.40 $420.95 FEB 26 - MAR 04 FEB 19 - FEB 25 FEB 12 - FEB 18 FEB 05 - FEB 11 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
MARCH 09, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
54.9% 40.3% 54.9% 56.0% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 33.7% 34.1% 30.4% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 0 100 FEB 26 FEB 19 FEB 12 FEB 05 JAN 22 JAN 15 JAN 01 JAN 29 DEC 25 46.8% JAN 08 SHORT-TERM RENTAL HOTEL $408.33 $294.73 $291.73 $284.33 $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 $631.51 $406.95 $408.99 $375.23 $375.82 $406.17 $425.23 $410.07 $400.16 0 850 FEB 26 FEB 19 FEB 05 JAN 22 $483.09 JAN 29 JAN 15 JAN 08 JAN 01 FEB 12 DEC 25 SHORT-TERM RENTAL HOTEL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $224.28 $118.87 $160.25 $159.34 $200.62 $200.24 $206.99 $200.06 $202.52 $190.85 $295.45 $127.72 $124.81 $120.24 $125.60 $142.43 $172.59 $172.40 $135.26 0 400 FEB 26 FEB 05 JAN 15 JAN 22 JAN 08 JAN 01 $164.09 JAN 29 DEC 25 FEB 12 FEB 19 SHORT-TERM RENTAL HOTEL 2023 2023 2023
SHORT-TERM RENTALS VS. HOTELS METRICS WEEKLY
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 09, 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 09, 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 09, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR JANUARY 2023 (AVERAGE
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
• 03/10 – 03/12: SANTA BARBARA
INTERNAITONAL ORCHID SHOW
• 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
MONTHLY HOTEL RATE
MONTHLY
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
$179.97 55.7% LA
$179.44 DANA
SANTA
$184.12 HUNTINGTON
ANAHEIM NEWPORT
SAN
AVERAGE DAILY RATE ($) OCCUPANCY RATE (%)
&
OCCUPANCY RATE
SPRINGS BEVERLY HILLS
JOLLA IRVINE
POINT
BARBARA
BEACH
BEACH
DIEGO