APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
EXECUTIVE SUMMARY
COUNTY UNEMPLOYMENT
2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.4% (FEBRUARY 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +6.9% (MARCH 2023 vs. MARCH 2022) NEWPORT BEACH HOTELS (APRIL 16 – APRIL 22, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 72.1% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 17.9% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $320.52 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 65.3%
ORANGE
TRANSPORTATION
NEWPORT BEACH SHORT-TERM VACATION RENTALS (APRIL 16 – APRIL 22, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE
NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $417.07 NEWPORT BEACH SHORT-TERM RENTALS MONTHLY % CHANGE IN SUPPLY
FEBRUARY - MARCH 2023 SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS JANUARY 2023 JANUARY 2022 881,049 630,402 +39.8% US AUTO MARKET SALES BY MONTH MARCH 2023 MARCH 2022 1,223,301 1,277,156 -4.3%
33.4%
-.86%
APRIL 27, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE FEBRUARY 20, 2023 – APRIL 17, 2023 SOURCE: OCAIR.COM SOURCE: U.S. ENERGY INFORMATION DEPT., STR ORANGE COUNTY/JOHN WAYNE AIRPORT (SNA) MONTHLY PASSENGER TRAFFIC (2023, 2022 & 2021)
PASSENGER COUNT GASOLINE/GAL VS HOTEL OCCUPANCY RATE 65.3% 63.6% 75.1% 69.7% 59.5% 61.5% 58.6% 66.1% 72.1% $3.49 $3.46 $3.50 $3.59 $3.53 $3.61 $3.78 $4.63 $4.69 $4.81 $4.83 $4.76 $4.73 $4.73 $4.79 $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 FEB 27 MAR 06 MAR 13 MAR 20 $3.53 FEB 20 APR 03 $3.70 APR 10 APR 17 MAR 27 OCCUPANCY RATE NATIONAL GAS PRICE CALIFORNIA GAS PRICE 881,049 841,593 916,767 958,826 1,003,510 1,001,249 1,049,187 1,030,933 1,014,460 1,079,792 1,014,095 944,146 195,290 495,592 890,185 831,522 783,737 873,422 854,393 847,671 227,402 FEB 385,396 717,400 MAR APR 585,735 MAY JAN 730,144 JUN JUL AUG SEP OCT NOV 360,402 DEC 2022 2021 2023
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
ECONOMIC METRICS
U.S. INFLATION CALCULATOR
SOURCE:
INFLATION CALCULATOR, STR RATE OF INFLATION
MONTH YOY COMPARISON (2021 – 2023)
SOURCE: U.S.
BY
RATE OF INFLATION VS MONTHLY HOTEL OCCUPANCY RATE (%) JANUARY – DECEMBER 2023 7.5% 6.4% 1.4% JAN 1.7% 7.9% 6.0% FEB 2.6% 8.5% 5.0% 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 6.0% 65.7% FEB MAR APR MAY 6.4% JUL AUG SEP OCT NOV DEC 5.0% 66.2% JUN 2023 INFLATION RATE 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) INFLATION RATE VS OCCUPANCY RATE
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND MARKETS APRIL 16 – APRIL 22, 2023 SOURCE: ZARTICO AVG. CREDIT/DEBIT
APRIL 16 – APRIL 22 , 2023
CARD SPEND BY CATEGORY
49.5% 21.0% 6.5% 5.6% 47.3% 25.1% 10.6% 4.6% 3.0% 4.5% 2022 2023 Gas & Service Stations Accommodations Business & Professional Retail Y/Y VARIANCE -8.4% -25.8% -41.4% -7.6% 40.3% Food AVG TOTAL SPEND Y/Y VARIANCE $117.82 $115.08 $105.43 $405.00 Santa BarbaraCA $321.88 Fresno-Visalia CA $288.22 Houston TX $207.84 Phoenix AZ $195.49 Las Vegas NV $181.10 Palm Springs CA $142.96 Salt Lake City UT Sacramento CA San Francisco CA Los Angeles CA AVG TRANSACTION SPEND CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 4.2% 3.5% 3.3% 3.2% 2.8% 4.7% 4.3% 4.2% 8.8% 9.1% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS APRIL 16 – APRIL 22, 2023
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS APRIL 16 – APRIL 22, 2023 46.6% 7.5% 5.3% 4.1% 3.7% 2.1% 2.0% 2.0% 1.6% 1.4% San Diego CA Phoenix AZ Las Vegas NV San Francisco CA Los Angeles CA Sacramento CA Denver CO Seattle-Tacoma WA Dallas-Ft. Worth TX New York NY % 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
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF MARCH 26 , 2023 – APRIL 16 , 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)
55.3% 57.3% 57.1% 68.7% 66.9% 64.4% 59.5% 62.5% 62.4% 61.1% 64.6% 65.3% 63.6% 75.1% 69.7% 59.5% 61.5% 58.6% 66.1% 72.1% 0 55 110 MAR 12 FEB 12 MAR 05 MAR 26 APR 02 FEB 26 FEB 19 APR 09 APR 16 MAR 19 2022 2023 WEEKLY OCCUPANCY 44.0% 51.1% 41.3% 49.3% 54.7% 56.8% 57.9% 72.9% 64.1% 63.4% 70.2% 81.1% 69.2% 63.7% 75.2% 77.0% 63.1% 56.1% 68.4% 73.6% 66.2% 60.7% 73.9% 72.6% 69.1% 58.7% 75.9% 78.0% MAR 26 - APR 01 APR 02 - APR 08 APR 09 - APR 15 APR 16 - APR 22 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% 66.2% MAR APR MAY 37.5% JAN JUN FEB 52.7% JUL AUG SEP OCT 61.0% NOV DEC 2022 2023 2021
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF MARCH 26, 2023 – APRIL 16, 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 $325.47 $305.69 $304.96 $303.79 $361.06 $308.78 $300.19 $327.69 $331.84 $322.62 $309.72 $309.92 $300.28 $329.20 $339.95 $319.90 $318.29 $325.50 $323.04 $320.52 220 240 260 280 320 340 360 380 200 FEB 12 MAR 26 MAR 12 MAR 05 APR 02 APR 09 APR 16 FEB 26 FEB 19 MAR 19 2022 2023 $340.32 $296.01 $329.13 $316.20 $329.08 $297.02 $298.15 $340.75 $317.87 $321.56 $309.72 $333.42 $307.60 $319.62 $326.27 $311.96 $305.95 $324.45 $335.27 $306.00 $323.28 $346.66 $331.22 $308.87 $313.31 $368.54 $328.85 $323.94 MAR 26 - APR 01 APR 02 - APR 08 APR 09 - APR 15 APR 16 - APR 22 $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 $328.83 150 200 250 300 400 450 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
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF MARCH 26, 2023 – APRIL 16, 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 $179.92 $175.11 $174.14 208.64 $241.66 $198.97 $178.51 $204.76 $207.11 $197.16 $200.06 $202.52 247.25 $236.77 $190.31 $195.67 $190.87 $213.60 $230.97 MAR 12 MAR 05 FEB 19 MAR 19 MAR 26 APR 02 FEB 26 $190.85 APR 09 APR 16 FEB 12 2022 2023 $149.60 $151.38 $135.96 $155.98 $180.00 $168.64 $172.59 $248.36 $203.63 $203.94 $217.53 $270.31 $212.94 $203.46 $245.25 $240.25 $193.02 $182.04 $229.40 $225.09 $214.14 $210.32 $244.86 $224.19 $216.37 $216.30 $249.62 $252.63 MAR 26 - APR 01 APR 02 - APR 08 APR 09 - APR 15 APR 16 - APR 22 $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 $193.12 $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
APRIL 27, 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 MARCH 26, 2023 – APRIL 16, 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 39.3% 43.3% 35.6% 45.3% 53.0% 47.5% 40.3% 45.6% 49.2% 40.3% 40.0% 41.9% 33.6% 41.9% 54.8% 41.1% 41.9% 48.5% 39.3% 33.4% 0 90 MAR 05 MAR 12 MAR 19 FEB 26 FEB 19 MAR 26 APR 02 APR 09 APR 16 FEB 12 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 $163.09 100 150 250 300 350 400 450 $149.77 FEB $192.38 $190.65 MAR $123.80 $137.18 APR $233.43 MAY $347.86 JUN $418.19 JUL $266.55 $307.81 AUG $238.19 SEP $186.77 JAN $122.70 OCT NOV DEC 2022 2023 2021 WEEKLY OCCUPANCY $462.71 $491.84 $519.23 $414.90 $463.33 $501.42 $485.84 $409.91 $460.98 $507.16 $468.17 $389.79 $461.04 $520.78 $441.44 $398.38 $490.68 $532.63 $478.91 $420.68 $494.96 $537.22 $473.88 $440.40 $495.36 $525.75 $456.92 $445.45 MAR 26 - APR 01 APR 02 - APR 08 APR 09 - APR 15 APR 16 - APR 22
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 APRIL 27, 2023, WEEKLY REPORT NEWPORT
& COMPANY
RENTALS
HOTELS METRICS WEEKLY 64.6% 65.3% 63.6% 75.1% 69.7% 59.5% 61.5% 58.6% 66.1% 72.1% 40.0% 41.9% 33.6% 41.9% 54.8% 41.1% 41.9% 48.5% 39.3% 33.4% 0 100 FEB 19 FEB 26 MAR 05 MAR 12 FEB 12 MAR 26 APR 02 APR 09 APR 16 MAR 19 HOTEL SHORT-TERM RENTAL $309.72 $309.92 $300.28 $329.20 $339.95 $319.90 $318.29 $325.50 $323.04 $320.52 $425.23 $410.07 $400.16 $451.05 $529.35 $465.65 $475.58 $516.68 $474.91 $417.07 0 850 FEB 19 FEB 26 MAR 05 FEB 12 MAR 19 MAR 26 APR 02 APR 09 APR 16 MAR 12 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $200.06 $202.52 $190.85 $247.25 $236.77 $190.31 $195.67 $190.87 $213.60 $230.97 $172.59 $172.40 $135.26 $190.65 $290.06 $199.61 $250.99 $186.65 $140.47 0 400 MAR 12 MAR 05 FEB 12 MAR 19 FEB 26 FEB 19 MAR 26 APR 02 APR 09 APR 16 $191.29 HOTEL SHORT-TERM RENTAL
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 APRIL 27, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
RENTALS VS. HOTELS METRICS MONTHLY 54.9% 65.7% 66.2% 31.1% 38.4% 41.4% 0 100 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL $297.60 $308.49 $323.83 $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 $214.28 $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
APRIL 27, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR MARCH 2023 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR MARCH 2023)
SAN DIEGO
MARCH - MAY 2023
• 03/01 – 05/14: THE FLOWER FIELDS
• 04/18 – 05/14: SPRING SAFARI
FEATURING BUTTERFLY JUNGLE
• 05/05: CINCO DE MAYO
• 05/11 – 05/14: GATOR BY THE BAY
LOS ANGELES
APRIL - MAY 2023
• 05/05 – 05/29: L.A. COUNTY FAIR
• 05/20 – 05/21: BEVERLY HILLS ART SHOW
SANTA BARBARA
APRIL - MAY 2023
• 04/29 – 04/30: SANTA BARBARA
EARTH DAY FESTIVAL
• 05/15 – 05/21: TASTE OF SANTA BARBARA
HUNTINGTON BEACH MAY 2023
• 05/13: KOWABUNGA HUNTINGTON BEACH VAN CAR SHOW
STR $323.83 $246.72 $203.15 $395.29 $284.29 $233.20 $733.94 $258.05 $253.74 $374.03 66.2% 69.5% 78.3% 66.2% 75.1% 72.2% 64.3% 78.5% 78.7% 77.4% 30 60 230 660 360 530 $193.19 DANA
SANTA
ANAHEIM PALM
BEVERLY
64.1% SANTA
LA
IRVINE SAN
HUNTINGTON
NEWPORT
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
SOURCE:
POINT
MONICA
SPRINGS
HILLS
BARBARA
JOLLA
DIEGO
BEACH
BEACH