MAY 18, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
ORANGE COUNTY UNEMPLOYMENT TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.4% (MARCH 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +6.9% (MARCH 2023 vs. MARCH 2022) NEWPORT BEACH HOTELS (MAY 7 - 13, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 66.5% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 9.0% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $331.76 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 60.3%
NEWPORT BEACH SHORT-TERM VACATION RENTALS (APRIL 30 – MAY 6, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 37.1% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $460.90 NEWPORT BEACH SHORT-TERM RENTALS MONTHLY % CHANGE IN SUPPLY -.002% APRIL - MAY2023 SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS FEBRUARY 2023 FEBRUARY 2022 841,593 717,400 +15.9% US AUTO MARKET SALES BY MONTH APRIL 2023 APRIL 2022 713,152 1,255,968 -55.1%
MAY 18, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE MARCH 13, 2023 – MAY 08, 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 69.7% 59.5% 61.5% 58.6% 66.1% 72.1% 74.9% 69.6% 66.5% $3.59 $3.53 $3.61 $3.78 $3.77 $3.71 $3.64 $4.83 $4.76 $4.73 $4.73 $4.79 $4.83 $4.80 $4.77 $4.74 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 APR 10 MAR 13 $3.53 MAR 20 APR 17 $3.70 APR 24 APR 03 MAR 27 MAY 01 MAY 08 OCCUPANCY RATE NATIONAL GAS PRICE CALIFORNIA GAS PRICE 881,049 944,544 916,767 958,826 1,003,510 1,001,249 1,049,187 1,030,933 1,014,460 1,079,792 1,014,095 944,146 195,290 495,592 890,185 831,522 783,737 873,422 854,393 847,671 360,402 730,144 FEB JUN 841,593 JAN NOV 717,400 227,402 385,396 MAR APR 585,735 MAY JUL AUG OCT SEP DEC 2023 2022 2021
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
U.S. INFLATION CALCULATOR
SOURCE:
INFLATION CALCULATOR, STR RATE OF INFLATION BY MONTH YOY COMPARISON (2021 – 2023)
SOURCE: U.S.
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
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND MARKETS APRIL 30 – MAY 06, 2023 SOURCE: ZARTICO AVG. CREDIT/DEBIT
APRIL 30 – MAY 06 , 2023
CARD SPEND BY CATEGORY
39.2% 36.8% 6.3% 4.4% 45.2% 30.5% 7.3% 4.6% 4.0% 1.6% 2022 2023 -9.0% -9.6% Accommodations Gas & Service Stations Nightlife Retail Y/Y VARIANCE 28.4% -16.4% 36.7% Food AVG TOTAL SPEND Y/Y VARIANCE $224.27 $222.86 $214.35 $154.95 $148.69 $117.33 $103.39 $246.65 Palm Springs CA Phoenix AZ Las Vegas NV Sacramento CA $883.77 Salt Lake City UT San Francisco CA Los Angeles CA AVG TRANSACTION SPEND Idaho Falls ID $739.48 Nashville TN Denver CO CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 0.4% 0.2% 1.6% 3.9% 1.9% 2.4% 1.7% 3.4% 2.2% 47.6% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO SOURCE: ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS APRIL 30 – MAY 06, 2023
VISITATION TYPE BY TOP 10 ORIGIN MARKETS APRIL 30 – MAY 06, 2023 47.8% 7.8% 6.4% 3.3% 2.9% 2.2% 2.2% 2.0% 1.4% 1.3% San Diego CA Phoenix AZ San Francisco CA Las Vegas NV Los Angeles CA Dallas-Ft. Worth TX Sacramento CA Seattle-Tacoma WA Palm Springs CA Salt Lake City UT % 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
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF APRIL 16, 2023 – MAY 1 3 , 2023) )
AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021)
SOURCE: STR
NEWPORT BEACH HOTELS
NEWPORT BEACH HOTELS
NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
68.7% 66.9% 64.4% 59.5% 62.5% 62.4% 61.1% 65.4% 60.3% 61.1% 75.1% 69.7% 59.5% 61.5% 58.6% 66.1% 72.1% 74.9% 69.6% 66.5% 0 55 110 MAR 12 APR 09 MAR 19 MAR 05 APR 23 MAR 26 APR 02 APR 16 APR 30 MAY 07 2022 2023 WEEKLY OCCUPANCY 49.3% 46.2% 53.4% 53.1% 72.9% 70.2% 68.2% 68.6% 81.1% 86.0% 73.5% 75.2% 77.0% 89.0% 73.2% 72.5% 73.6% 81.9% 67.4% 65.9% 72.6% 70.2% 67.7% 61.5% 78.0% 80.5% 83.7% 68.9% 49.3% 67.4% APR 30 - MAY 06 MAY 07 - MAY 13 68.9% 70.2% APR 16 - APR 22 APR 23 - APR 29 72.9% 73.6% 77.0% 81.1% 72.6% 67.7% 78.0% 72.5% 86.0% 89.0% 81.9% 70.2% 65.9% 53.1% 80.5% 53.4% 68.2% 73.5% 83.7% 73.2% 68.6% 75.2% 61.5% 46.2% 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% 37.5% MAR NOV SEP JAN 52.7% FEB APR MAY JUN JUL AUG OCT 61.0% DEC 2021 2022 2023
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF APRIL 16, 2023 – MAY 1 3 , 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 $303.79 $361.06 $308.78 $300.19 $327.69 $331.84 $322.62 $312.65 $324.46 $320.29 $339.95 $319.90 $318.29 $325.50 $323.04 $320.52 $333.41 $326.78 $331.76 260 200 240 220 320 280 340 360 380 APR 02 $329.20 MAR 05 MAR 12 MAR 19 MAR 26 APR 09 APR 16 APR 23 APR 30 MAY 07 2022 2023 $316.20 $296.50 $333.39 $308.54 $340.75 $326.95 $342.27 $311.83 $333.42 $340.54 $329.84 $338.02 $311.96 $332.97 $328.27 $321.39 $306.00 $330.77 $308.02 $333.69 $308.87 $339.69 $314.36 $354.15 $323.94 $350.28 $331.14 $351.76 APR 16 - APR 22 APR 23 - APR 29 APR 30 - MAY 06 MAY 07 - MAY 13 $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 $328.83 250 400 300 150 200 450 JUN OCT NOV JAN $308.49 FEB $379.47 $397.40 $444.09 MAR JUL $403.73 AUG $407.58 APR SEP MAY DEC 2021 2022 2023
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF APRIL 16, 2023 – MAY 1 3 , 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 208.64 $241.66 $198.97 $178.51 $204.76 $207.11 $197.16 $204.44 $195.76 $195.55 247.25 $236.77 $190.31 $195.67 $190.87 $213.60 $230.97 $249.61 $227.35 $220.69 MAR 26 MAR 05 MAR 12 MAR 19 APR 02 APR 09 APR 16 APR 23 APR 30 MAY 07 2022 2023 $155.98 $137.11 $177.88 $163.80 $248.36 $229.41 $233.50 $213.78 $270.31 $292.89 $242.29 $254.20 $240.25 $296.43 $240.25 $232.95 $225.09 $270.84 $207.66 $220.03 $224.19 $238.47 $212.88 $217.84 $252.63 $282.11 $277.02 $242.22 APR 23 - APR 29 APR 16 - APR 22 APR 30 - MAY 06 MAY 07 - MAY 13 $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 APR MAR $107.24 JAN MAY $169.04 FEB $198.54 $253.62 JUN $284.44 $326.26 SEP JUL AUG OCT NOV DEC 2021 2023 2022
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY SHORT-TERM RENTAL METRICS
SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK (WEEKS OF APRIL 16, 2023 – MAY 07, 2023) NEWPORT BEACH SHORT-TERM RENTALS MONTHLY REVPAR (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021) NEWPORT BEACH SHORT-TERM RENTAL WEEKLY OCCUPANCY (2023 v 2022)
WEEKLY ADR REVPAR BY MONTH 45.3% 53.0% 47.5% 40.3% 45.6% 49.2% 40.3% 36.5% 36.2% 36.2% 41.9% 54.8% 41.1% 41.9% 48.5% 39.3% 33.4% 37.4% 37.1% 36.9% 0 90 APR 16 APR 02 APR 23 MAR 26 MAR 19 APR 30 MAY 07 MAR 12 MAR 05 APR 09 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 $414.90 $431.75 $436.99 $436.61 $409.91 $393.31 $446.04 $445.62 $389.79 $388.20 $414.56 $414.03 $398.38 $375.20 $469.67 $469.32 $420.68 $513.86 $459.40 $459.11 $440.40 $465.23 $511.57 $511.98 $445.45 $495.25 $488.11 $488.43 APR 16 - APR 22 APR 23 - APR 29 APR 30 - MAY 06 MAY 07 - MAY 13
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
NEWPORT
& COMPANY
RENTALS
METRICS WEEKLY 75.1% 69.7% 59.5% 61.5% 58.6% 66.1% 72.1% 74.9% 69.6% 66.5% 41.9% 54.8% 41.1% 41.9% 48.5% 39.3% 33.4% 37.4% 37.1% 36.9% 0 100 APR 09 MAY 07 MAR 05 APR 23 MAR 12 MAR 19 MAR 26 APR 02 APR 30 APR 16 HOTEL SHORT-TERM RENTAL $329.20$339.95 $319.90 $318.29 $325.50 $323.04 $320.52 $333.41 $326.78 $331.76 $529.35 $465.65 $475.58 $516.68 $474.91 $417.07 $457.54 $460.90 $460.73 0 850 MAR 12 $451.05 APR 16 MAR 05 MAR 19 MAR 26 APR 02 APR 09 APR 30 APR 23 MAY 07 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $247.25 $236.77 $190.31 $195.67 $190.87 $213.60 $230.97 $249.61 $227.35 $220.69 $190.65 $290.06 $199.61 $250.99 $186.65 $140.47 $166.27 $172.48 $179.90 0 400 MAR 05 MAR 12 MAY 07 $191.29 MAR 19 APR 23 MAR 26 APR 02 APR 09 APR 16 APR 30 HOTEL SHORT-TERM RENTAL
MAY 18, 2023, WEEKLY REPORT
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 MAY 18, 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
MAY 18, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
SAN DIEGO
MAY 2023
• 05/11 – 05/14: GATOR BY THE BAY
• 5/20: JOLLA HALF MARATHON & SHORES 5K
• 5/29: FORT ROSECRANS MEMORIAL DAY
LOS ANGELES
MAY 2023
• 05/05 – 05/29: L.A. COUNTY FAIR
• 05/20 – 05/21: BEVERLY HILLS ART
SANTA BARBARA
MAY 2023
• 05/15 – 05/21: TASTE OF SANTA BARBARA
• 5/27 – 29: MADONNARI ITALIAN STREET PAINTING FESTIVAL
• 05/29: MEMORIAL DAY CEREMONY
SHOW
BEACH HOTELS COMPETITIVE CITIES FOR MARCH 2023 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR MARCH 2023) SOURCE: 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% 50 150 350 $193.19 DANA POINT SANTA MONICA ANAHEIM PALM SPRINGS BEVERLY HILLS 64.1% SANTA BARBARA LA JOLLA IRVINE SAN DIEGO HUNTINGTON BEACH NEWPORT BEACH OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
BEACH
2023
NEWPORT
HUNTINGTON
MAY