JUNE 08, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.0% (APRIL 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +6.0% (APRIL 2023 vs. APRIL 2022) NEWPORT BEACH HOTELS (MAY 28 - JUNE 3, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 63.7% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 8.0% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $296.78 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 57.7%
ORANGE COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS (MAY 28 - JUNE 3, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 45.4% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $553.45 NEWPORT BEACH SHORT-TERM RENTALS MONTHLY % CHANGE IN SUPPLY .09% MAY- JUNE 2023 SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS MARCH 2023 MARCH 2022 994,554 916,767 +2.9% US AUTO MARKET SALES BY MONTH MAY 2023 MAY 2022 715,583 1,130,238
JUNE 08, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE MARCH 27, 2023 – MAY 29, 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 61.5% 58.6% 66.1% 72.1% 74.9% 69.6% 66.5% 70.5% 70.7% 63.7% $3.61 $3.78 $3.77 $3.71 $3.64 $3.65 $3.65 $4.73 $4.73 $4.79 $4.83 $4.80 $4.77 $4.74 $4.72 $4.71 $4.76 0 10 20 30 40 50 60 70 80 MAR 27 APR 03 $3.70 APR 10 APR 17 APR 24 $3.53 MAY 08 MAY 15 MAY 22 MAY 29 $3.70 MAY 01 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 1,014,095 944,146 195,290 495,592 890,185 831,522 783,737 873,422 854,393 847,671 227,402 FEB 717,400 385,396 841,593 MAR APR 585,735 MAY JAN 730,144 JUN JUL AUG SEP OCT NOV 360,402 DEC 2022 2021 2023
TRANSPORTATION METRICS
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
ECONOMIC METRICS
U.S. INFLATION CALCULATOR
U.S. INFLATION CALCULATOR, STR
OF INFLATION
MONTH YOY COMPARISON (2021 – 2023)
SOURCE:
SOURCE:
RATE
BY
RATE OF INFLATION VS MONTHLY HOTEL OCCUPANCY RATE (%) JANUARY – DECEMBER 2023 6.4% 7.5% 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% 1.4% 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 4.9% JUN 2022 2023 2021 INFLATION RATE 54.9% JAN 6.0% 65.7% FEB 5.0% 66.2% MAR APR 6.4% JUN JUL AUG SEP OCT NOV DEC 4.9% 67.6% MAY 2023 INFLATION RATE 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) INFLATION RATE VS OCCUPANCY RATE
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY ECONOMIC METRICS
AVG. CREDIT CARD/DEBIT TRANSACTION AMOUNT BY TOP 10 SPEND MARKETS MAY 28 – JUNE 03, 2023 SOURCE: ZARTICO AVG. CREDIT/DEBIT CARD
MAY 28 – JUNE 03, 2023
SPEND BY CATEGORY
49.7% 22.1% 6.3% 5.5% 50.2% 22.9% 7.5% 5.1% 2.7% 4.9% 2022 2023 -1.0% -2.5% Accommodations Business & Professional Gas & Service Stations Retail Y/Y VARIANCE -13.4% -4.4% 96.9% Food AVG TOTAL SPEND Y/Y VARIANCE $132.50 $128.59 $126.12 $101.59 $89.53 $69.67 $68.30 $338.74 Fresno-Visalia CA $214.98 Milwaukee WI $145.34 Phoenix AZ Denver CO Sacramento CA Palm Springs CA San Diego CA Salt Lake City UT Los Angeles CA San Francisco CA AVG TRANSACTION SPEND CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 2.0% 8.2% 2.0% 4.1% 4.0% 9.0% 2.5% 6.6% 24.3% 0.0% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
SOURCE: ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS MAY 28 – JUNE 03, 2023
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS MAY 28 – JUNE 03, 2023 21.0% 10.7% 9.1% 8.3% 6.5% 5.7% 4.9% 2.9% 1.9% 1.8% Phoenix AZ San Francisco CA San Diego CA Las Vegas NV Los Angeles CA Palm Springs CA Salt Lake City UT New York NY Honolulu HI 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
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF MAY 07 , 2023 – MAY 28 , 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)
59.5% 62.5% 62.4% 61.1% 65.4% 60.3% 61.1% 65.3% 58.8% 58.9% 61.5% 58.6% 66.1% 72.1% 74.9% 69.6% 66.5% 70.5% 70.7% 63.7% 0 55 110 APR 02 APR 09 MAR 26 APR 23 APR 30 MAY 07 MAY 14 MAY 21 MAY 28 APR 16 2022 2023 WEEKLY OCCUPANCY 53.1% 44.3% 52.5% 76.5% 68.6% 65.7% 70.6% 35.8% 75.2% 74.0% 77.9% 48.2% 72.5% 74.6% 71.8% 61.0% 65.9% 68.7% 60.9% 61.5% 61.5% 79.4% 70.4% 77.3% 68.9% 86.5% 90.5% 85.3% MAY 07 - MAY 13 MAY 14 - MAY 20 MAY 21 - MAY 27 MAY 28- JUNE 03 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% 67.6% MAR APR MAY FEB 52.7% JUN JAN 37.5% JUL AUG SEP OCT 61.0% NOV DEC 2022 2023 2021
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF MAY 07, 2023 – MAY 28, 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 $300.19 $327.69 $331.84 $322.62 $312.65 $324.46 $320.29 $335.99 $341.13 $364.98 $318.29 $325.50 $323.04 $320.52 $333.41 $326.78 $331.76 $299.40 $323.41 $296.78 200 220 240 260 280 320 340 380 360 MAY 28 MAY 21 MAR 26 MAY 07 APR 30 APR 23 APR 16 APR 09 APR 02 MAY 14 2022 2023 $308.54 $287.71 $276.81 $287.00 $311.83 $265.28 $312.20 $230.70 $338.02 $277.33 $315.33 $233.74 $321.39 $284.94 $301.17 $248.51 $333.69 $291.90 $290.03 $314.33 $354.15 $334.66 $349.89 $364.52 $351.76 $336.26 $385.71 $329.41 MAY 07 - MAY 13 MAY 14 - MAY 20 MAY 21 - MAY 27 MAY 28 - JUNE 03 $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 $297.65 $323.83 $327.80 150 200 250 300 400 450 MAY $379.47 JUN $397.40 $444.09 APR JUL $403.73 MAR $407.58 FEB AUG SEP OCT NOV $308.50 JAN DEC 2022 2023 2021
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF MAY 07, 2023 – MAY 28, 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 $178.51 $204.76 $207.11 $197.16 $204.44 $195.76 $195.55 $219.44 $200.66 $215.03 $195.67 $190.87 $213.60 $230.97 $249.61 $227.35 $220.69 $210.95 $228.54 $188.91 APR 16 APR 23 MAR 26 MAY 07 APR 09 APR 02 MAY 14 MAY 21 MAY 28 APR 30 2022 2023 $163.80 $127.54 $145.37 $219.49 $213.78 $174.21 $220.53 $82.68 $254.20 $205.30 $245.60 $112.71 $232.95 $212.65 $216.38 $151.52 $220.03 $200.42 $176.64 $193.24 $217.84 $265.70 $246.33 $281.83 $242.22 $290.79 $348.95 $280.89 MAY 07 - MAY 13 MAY 14 - MAY 20 MAY 21 - MAY 27 MAY 28 - JUNE 03 $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 $188.93 163.38 202.61 214.28 221.63 $107.24 FEB MAR $169.04 APR MAY $198.54 $253.62 JUN $284.44 $326.26 JAN JUL AUG SEP OCT NOV DEC 2022 2023 2021
JUNE 08, 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 MAY 07, 2023 – MAY 28, 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 40.3% 45.6% 49.2% 40.3% 36.5% 36.2% 36.2% 41.6% 42.9% 46.8% 41.9% 48.5% 39.3% 33.4% 37.4% 37.1% 36.9% 41.1% 41.5% 45.4% 0 90 MAY 07 APR 30 MAY 14 APR 23 APR 16 MAY 21 MAY 28 APR 09 APR 02 MAR 26 2022 2023 $163.05 $165.88 $185.40 $252.52 $302.18 $196.77 $198.33 $220.18 $156.73 $190.65 $257.02 $261.72 $185.43 $176.72 $188.93 $151.99 $205.36 100 150 250 300 350 400 450 FEB $220.88 $137.18 MAR $123.80 APR $233.43 MAY $347.86 JUN $418.19 JUL $266.55 $307.81 AUG $238.19 SEP $186.77 JAN $128.19 OCT NOV DEC 2022 2023 2021 WEEKLY OCCUPANCY $436.61 $472.48 $454.54 $588.56 $445.62 $521.74 $401.05 $529.46 $414.03 $418.42 $391.96 $525.21 $469.32 $491.80 $423.41 $527.47 $459.11 $451.17 $510.60 $548.80 $511.98 $483.18 $569.23 $570.26 $488.43 $493.38 $586.99 $584.40 MAY 07 - MAY 13 MAY 14 - MAY 20 MAY 21 - MAY 27 MAY 28 - JUNE 03
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 JUNE 08, 2023, WEEKLY REPORT NEWPORT
& COMPANY SHORT-TERM RENTALS
HOTELS METRICS WEEKLY 61.5% 58.6% 66.1% 72.1% 74.9% 69.6% 66.5% 70.5% 70.7% 63.7% 41.9% 48.5% 39.3% 33.4% 37.4% 37.1% 36.9% 41.1% 41.5% 45.4% 0 100 APR 02 APR 09 APR 16 APR 23 MAR 26 MAY 07 MAY 14 MAY 21 MAY 28 APR 30 HOTEL SHORT-TERM RENTAL $318.29$325.50 $323.04 $320.52 $333.41 $326.78 $331.76 $299.40 $323.41 $296.78 $475.58$516.68 $474.91 $417.07 $457.54 $460.90 $460.73 $476.02 $476.82 $553.45 0 850 APR 02 APR 09 APR 16 APR 23 MAR 26 MAY 07 MAY 14 MAY 21 MAY 28 APR 30 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $195.67$190.87 $213.60 $230.97 $249.61 $227.35 $220.69 $210.95 $228.54 $188.91 $250.99 $186.65 $140.47 $166.27 $172.48 $179.90 $196.27 $204.02 $252.91 0 400 MAR 26 APR 02 APR 09 APR 16 $199.61 APR 30 MAY 07 MAY 14 MAY 21 MAY 28 APR 23 HOTEL SHORT-TERM RENTAL
BEACH
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 JUNE 08, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
RENTALS VS. HOTELS METRICS MONTHLY 54.9% 65.7% 66.2% 67.6% 31.1% 38.4% 41.4% 44.2% 0 100 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL $297.60 $308.49 $323.83 $327.80 $394.19 $390.62 $468.00 $464.62 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 $221.63 $122.70 $149.77 $192.38 $205.36 0 450 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL MONTHLY REVPAR
SHORT-TERM
JUNE 08, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR APRIL 2023 (AVERAGE
SAN DIEGO
JUNE 2023
• 6/7 – 7/4: SAN DIEGO COUNTY FAIR
• 6/24: OCEANSIDE INDEPENDENCE
DAY PARADE
LOS ANGELES
JUNE - AUGUST 2023
• 6/15 – 6/18: U.S. OPEN
• 6/17 – 6/18: HOLLYWOOD BOWL
JAZZ FESTIVAL
• 6/23 – 8/18: DANCE DTLA
HUNTINGTON BEACH
JULY 2023
• 7/4: INDEPENDENCE DAY
SANTA BARBARA
JUNE 2023
• 6/1 – 6/30: ULTIMATE ISLAND
ADVENTURE
• 6/9 – 6/10: SB SURF FILM FESTIVAL
• 6/23 – 6/24: SUMMER SOLSTICE
CELEBRATION
• 6/24: SANTA BARBARA LAVENDER FESTIVAL
• 6/30 – 9/3: SAWDUST ART & CRAFT
FESTIVAL
• 7/5 – 9/1: FESTIVAL OF THE ARTS
• 7/7 – 9/1: PAGEANT OF THE MASTERS
MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR APRIL 2023) SOURCE: STR $327.80 $263.77 $376.81 $284.52 $268.71 $737.93 $283.89 $240.19 $377.92 67.6% 72.6% 77.3% 61.0% 71.8% 69.8% 73.9% 74.5% 78.6% 79.3% 30 60 230 360 530 660 HUNTINGTON
$179.85 IRVINE
59.7% BEVERLY
$199.63 NEWPORT
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
- SEPTEMBER 2023
BEACH SAN DIEGO DANA POINT
LA JOLLA SANTA BARBARA
HILLS PALM SPRINGS ANAHEIM SANTA MONICA
BEACH
LAGUNA BEACH JUNE