APRIL 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
COUNTY UNEMPLOYMENT TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.4% (JANUARY 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +7.8% (FEBRUARY 2023 vs. FEBRUARY 2022)
BEACH HOTELS (MARCH 26 – APRIL 1, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 61.5% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 3.4% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $318.29 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 55.7%
ORANGE
NEWPORT
NEWPORT BEACH SHORT-TERM VACATION RENTALS (MARCH 26 – APRIL 1, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 41.9% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $475.58 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%
-.86%
APRIL 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JANUARY 30, 2023 – MARCH 27, 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 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 69.7% 59.5% 61.5% $3.59 $3.55 $3.55 $3.49 $3.46 $3.50 $3.59 $3.53 $4.46 $4.51 $4.51 $4.63 $4.69 $4.81 $4.83 $4.76 $4.73 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 06 FEB 13 FEB 20 FEB 27 JAN 30 MAR 13 MAR 20 MAR 27 $3.53 MAR 06 OCCUPANCY RATE NATIONAL GAS PRICE CALIFORNIA GAS PRICE 881,049 916,767 958,826 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 06, 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
NEWPORT BEACH & COMPANY ECONOMIC METRICS
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND MARKETS MARCH 26 – APRIL 01, 2023 SOURCE: ZARTICO
CREDIT/DEBIT
MARCH 26 – APRIL 01 , 2023
AVG.
CARD SPEND BY CATEGORY
APRIL 06, 2023, WEEKLY REPORT
45.6% 28.5% 4.6% 5.4% 48.5% 25.9% 6.1% 5.0% 4.4% 2.7% 2022 2023 Food Retail Gas & Service Stations Accommodations Business & Professional Y/Y VARIANCE -7.0% 8.9% -10.8% -25.4% 85.3% AVG TOTAL SPEND Y/Y VARIANCE $2,110.66 $709.09 $238.45 Jacksonville FL Washington DC $172.96 Phoenix AZ $170.80 Palm Springs CA $139.31 Chicago IL Columbia SC Salt Lake City UT $117.44 Denver CO San Diego CA San Francisco CA AVG TRANSACTION SPEND $103.40 $70.82 $123.90 CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 6.9% 3.0% 7.0% 2.9% 3.9% 3.3% 3.8% 3.3% 5.4% 5.7% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
APRIL 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS MARCH 26 – APRIL 01, 2023
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS MARCH 26 – APRIL 01, 2023 53.0% 6.4% 4.9% 4.7% 2.4% 2.2% 2.1% 1.7% 1.7% 1.6% San Diego CA San Francisco CA Sacramento CA Las Vegas NV Los Angeles CA Bakersfield CA Fresno-Visalia CA Palm Springs CA Salt Lake City UT Phoenix AZ % 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 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF MARCH 05 , 2023 – MARCH 26 , 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)
41.7% 47.3% 49.8% 55.3% 57.3% 57.1% 68.7% 66.9% 64.4% 59.5% 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 69.7% 59.5% 61.5% 0 55 110 FEB 26 MAR 05 JAN 29 FEB 05 MAR 12 MAR 19 MAR 26 FEB 19 FEB 12 JAN 22 2022 2023 WEEKLY OCCUPANCY 47.8% 53.8% 41.8% 44.0% 67.8% 68.9% 57.2% 54.7% 86.1% 73.6% 64.4% 64.1% 93.1% 76.2% 64.7% 69.2% 88.2% 72.0% 60.0% 63.1% 71.6% 71.1% 61.9% 66.2% 71.0% 72.0% 66.4% 69.1% MAR 05 - MAR 11 MAR 12 - MAR 18 MAR 19 - MAR 25 MAR 26 - APR 01 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
APRIL 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF MARCH 05, 2023 – MARCH 26, 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 $283.98 $327.04 $325.47 $305.69 $304.96 $303.79 $361.06 $308.78 $300.19 $308.66 $309.72 $309.92 $300.28 $329.20 $339.95 $319.90 $318.29 200 380 360 340 320 280 260 240 220 $296.01 FEB 26 MAR 12 MAR 26 FEB 19 MAR 05 JAN 29 FEB 12 MAR 19 FEB 05 2022 2023 $294.86 $341.47 $305.56 $340.32 $294.19 $342.29 $301.79 $329.08 $332.43 $348.65 $311.31 $317.87 $353.95 $342.88 $310.17 $307.60 $339.36 $333.37 $326.14 $305.95 $331.09 $341.72 $342.51 $323.28 $334.86 $329.40 $335.57 $313.31 MAR 05 - MAR 11 MAR 12 - MAR 18 MAR 19 - MAR 25 MAR 26 - APR 01 $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
APRIL 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF MARCH 05, 2023 – MARCH 26, 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 $120.37 $134.28 $162.87 $179.92 $175.11 $174.14 208.64 $198.97 $178.51 $200.62 $200.24 $206.99 $200.06 $202.52 247.25 $236.77 $190.31 $195.67 FEB 26 MAR 05 $241.66 JAN 29 FEB 05 MAR 12 FEB 19 FEB 12 MAR 19 MAR 26 $190.85 JAN 22 2022 2023 $140.90 $183.80 $127.66 $149.60 $199.51 $235.82 $172.57 $180.00 $286.36 $256.46 $200.47 $203.63 $329.60 $261.19 $200.67 $212.94 $299.28 $240.18 $195.79 $193.02 $237.21 $242.87 $212.06 $214.14 $237.89 $237.10 $222.96 $216.37 MAR 05 - MAR 11 MAR 12 - MAR 18 MAR 19 - MAR 25 MAR 26 - APR 01 $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
APRIL 06, 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 05, 2023 – MARCH 26, 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 32.0% 34.6% 35.3% 39.3% 43.3% 35.6% 45.3% 53.0% 47.5% 40.3% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 41.9% 54.8% 41.1% 41.9% 0 90 FEB 26 MAR 05 JAN 22 FEB 12 MAR 12 MAR 19 MAR 26 FEB 05 JAN 29 FEB 19 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 $407.15 $524.92 $468.99 $462.71 $417.12 $531.60 $469.79 $463.33 $428.97 $530.96 $461.29 $460.98 $460.30 $529.76 $462.84 $461.04 $463.71 $535.75 $465.11 $490.68 $491.62 $526.63 $472.33 $494.96 $488.50 $525.84 $459.23 $495.36 MAR 05 - MAR 11 MAR 12 - MAR 18 MAR 19 - MAR 25 MAR 26 - APR 01
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 06, 2023, WEEKLY REPORT NEWPORT
& COMPANY
RENTALS
METRICS WEEKLY 65.1% 67.6% 67.1% 64.6% 65.3% 63.6% 75.1% 69.7% 59.5% 61.5% 31.9% 33.2% 35.0% 40.0% 41.9% 33.6% 41.9% 54.8% 41.1% 41.9% 0 100 JAN 29 FEB 05 FEB 12 FEB 19 JAN 22 MAR 05 MAR 12 MAR 19 MAR 26 FEB 26 HOTEL SHORT-TERM RENTAL $307.97 $296.01 $308.66 $309.72 $309.92 $300.28 $329.20 $339.95 $319.90 $318.29 $375.23$375.82 $406.17 $425.23 $410.07 $400.16 $451.05 $529.35 $465.65 $475.58 0 850 FEB 05 FEB 12 FEB 19 FEB 26 JAN 22 MAR 12 MAR 19 JAN 29 MAR 26 MAR 05 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $200.62$200.24 $206.99 $200.06 $202.52 $190.85 $247.25 $236.77 $190.31 $195.67 $120.24$125.60 $142.43 $172.59 $172.40 $135.26 $190.65 $290.06 $199.61 0 400 FEB 26 MAR 05 MAR 12 JAN 29 $191.29 FEB 19 MAR 19 MAR 26 FEB 12 FEB 05 JAN 22 HOTEL SHORT-TERM RENTAL
BEACH
SHORT-TERM
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 APRIL 06, 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
APRIL 06, 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
SANTA BARBARA
APRIL/MAY 2023
• 04/29 – 04/30: SANTA BARBARA
EARTH DAY FESTIVAL
LOS ANGELES
APRIL 2023
• 04/14 – 04/16: 2023 UNIVERSE
MULTICULTURAL FILM FESTIVAL
• 04/21: EARTH DAY SUMMIT
• 05/15 – 05/21: TASTE OF SANTA BARBARA
HUNTINGTON BEACH
APRIL 2023
• ALL OF APRIL: JACK’S SURFBOARDS PRO
SOURCE: STR $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 HUNTINGTON BEACH SAN DIEGO DANA POINT $183.63 IRVINE LA JOLLA NEWPORT BEACH 62.9% BEVERLY
SANTA
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
HILLS PALM SPRINGS ANAHEIM SANTA MONICA
BARBARA