JULY 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.2% (MAY 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +6.0% (MAY 2023 vs. MAY 2022) NEWPORT BEACH HOTELS (JUNE 25 - JULY 01, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 74.7% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 11.3% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $345.60 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 68.4%
ORANGE COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS (JUNE 25 - JULY 01, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 48.6% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $691.87 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 JUNE 2023 JUNE 2022 1,074,536 1,091,699
JULY 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE APRIL 2 4 , 2023 – JUNE 2 6 , 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 74.9% 69.6% 66.5% 70.5% 70.7% 63.7% 71.7% 74.0% 77.0% 74.7% $3.77 $3.71 $3.64 $3.65 $3.65 $3.66 $3.71 $3.69 $3.66 $4.80 $4.77 $4.74 $4.72 $4.71 $4.76 $4.76 $4.82 $4.79 $4.75 70 80 0 MAY 01 MAY 08 MAY 15 APR 24 $3.70 MAY 29 JUN 05 JUN 12 JUN 19 JUN 26 MAY 22 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
JULY 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
ECONOMIC METRICS
U.S. INFLATION CALCULATOR
SOURCE:
INFLATION CALCULATOR, STR
OF INFLATION
MONTH YOY COMPARISON (2021 – 2023)
SOURCE: U.S.
RATE
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% 4.9% APR 5.0% 8.6% 4.0% 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 5.0% 66.2% MAR 4.9% 67.6% 6.4% MAY JUN JUL AUG SEP OCT NOV DEC 68.3% 4.0% APR 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 JUNE 25 – JULY 01, 2023 SOURCE: ZARTICO AVG. CREDIT/DEBIT CARD SPEND
JUNE 2 5 – JULY 01, 2023
BY CATEGORY
JULY 06, 2023, WEEKLY REPORT
51.1% 28.8% 7.5% 3.9% 45.6% 37.3% 2.4% 2.8% 0.9% 4.8% 2022 2023 1.6% -7.8% Health 12.9% Gas & Service Stations Y/Y VARIANCE Outdoor Recreation Retail -14.7% -19.3% Food AVG TOTAL SPEND Y/Y VARIANCE $111.27 $106.97 $98.22 $68.72 $134.99 Las Vegas NV Chicago IL $1,148.79 Salt Lake City UT Los Angeles CA AVG TRANSACTION SPEND Phoenix AZ $177.01 Palm Springs CA $196.22 San Francisco CA $208.45 Sacramento CA $248.17 Honolulu HI Denver CO CATEGORY SPEND AVERAGE CREDIT/DEBIT SPEND 0.9% 4.9% 6.9% 3.7% 7.5% 4.8% 1.7% 2.7% 3.3% 20.9% % OF TOTAL VISITOR SPEND SOURCE: ZARTICO
JULY 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
ZARTICO
ZARTICO OVERNIGHT VISITATION FROM TOP 10 ORIGIN MARKETS JUNE 25 – JULY 01, 2023
SOURCE:
SOURCE:
VISITATION TYPE BY TOP 10 ORIGIN MARKETS JUNE 25 – JULY 01, 2023 18.2% 18.2% 9.1% 9.1% 9.1% 9.1% 4.5% 4.5% 4.5% 4.5% Palm Springs CA Honolulu HI Las Vegas NV San Diego CA Los Angeles CA Atlanta GA Florence SC Orlando FL Sacramento CA San Francisco 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
JULY 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
OCCUPANCY
DAY OF WEEK
OF JUNE 0 4 , 2023 – JUNE 2 5 , 2023) ) NEWPORT
NEWPORT BEACH HOTELS DAILY
RATE BY
(WEEKS
BEACH HOTELS AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
65.4% 60.3% 61.1% 65.3% 58.8% 58.9% 67.3% 62.0% 67.4% 65.8% 74.9% 69.6% 66.5% 70.5% 70.7% 63.7% 71.7% 74.0% 77.0% 74.7% 0 55 110 MAY 14 MAY 21 MAY 28 APR 23 JUN 11 JUN 18 MAY 07 APR 30 JUN 25 JUN 04 2022 2023 WEEKLY OCCUPANCY 62.8% 53.4% 59.5% 60.0% 65.3% 69.1% 64.0% 74.5% 75.6% 78.2% 77.1% 83.5% 75.5% 77.6% 83.5% 77.4% 74.3% 78.3% 84.8% 68.3% 72.8% 78.8% 84.6% 71.4% 75.7% 82.8% 85.6% 87.6% JUN 04- JUN 10 JUN 11- JUN 17 JUN 18- JUN 24 JUN 25- JUL 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% 64.2% 73.5% 67.9% 70.1% 68.4% 56.6% 54.9% 65.7% 66.2% 67.6% 68.3% APR 60.2% 37.5% MAY MAR FEB JUN 52.7% JAN JUL AUG SEP OCT 61.0% NOV DEC 2022 2023 2021
JULY 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEKS OF JUNE 04, 2023 – JUNE 25, 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 $312.65$324.46 $320.29 $335.99 $341.13 $364.98 $364.67 $382.91 $381.25 $397.95 $333.41$326.78 $331.76 $299.40 $323.41 $296.78 $321.27 $325.91 $346.37 $345.60 250 350 400 200 MAY 07 MAY 21 MAY 28 JUN 04 JUN 11 JUN 18 APR 30 APR 23 JUN 25 MAY 14 2022 2023 $341.19 $286.99 $329.33 $316.62 $306.74 $303.34 $328.75 $333.22 $310.42 $318.36 $333.86 $343.78 $312.20 $315.49 $347.06 $340.64 $316.57 $314.08 $347.40 $311.25 $335.53 $356.72 $366.97 $347.45 $328.08 $368.61 $360.63 $407.40 JUN 04 - JUN 10 JUN 11 - JUN 17 JUN 18 - JUN 24 JUN 25 - JUL 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 $297.65 $323.83 $327.80 150 200 250 300 400 450 $321.16 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
JULY 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF JUNE 04, 2023 – JUNE 25, 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 $204.44 $195.76 $195.55 $219.44 $200.66 $215.03 $245.59 $237.59 $256.89 $261.66 $249.61 $227.35 $220.69 $210.95 $228.54 $188.91 $230.37 $241.28 $266.79 $258.06 APR 30 MAY 07 JUN 11 JUN 04 MAY 28 JUN 18 JUN 25 MAY 21 MAY 14 APR 23 2022 2023 $214.10 $153.13 $196.05 $189.97 $200.31 $209.69 $210.49 $248.13 $234.59 $249.02 $257.34 $287.02 $235.82 $244.88 $289.76 $263.60 $235.20 $245.99 $294.70 $212.65 $244.10 $281.07 $310.45 $248.23 $248.48 $305.15 $308.72 $356.82 JUN 04 - JUN 10 JUN 11 - JUN 17 JUN 18 - JUN 24 JUN 25 - JUL 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 $278.88 $254.02 $228.53 $200.34 $188.93 163.38 202.61 214.28 221.63 $219.32 $107.24 FEB MAR $169.04 APR $205.89 MAY $198.54 $253.62 JUN $284.44 $326.26 JAN JUL AUG SEP OCT NOV DEC 2022 2023 2021
JULY 06, 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 JUNE 04, 2023 – JUNE 25, 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 36.5% 36.2% 36.2% 41.6% 42.9% 46.8% 47.6% 48.2% 46.1% 47.3% 37.4% 37.1% 36.9% 41.1% 41.5% 45.4% 45.2% 48.5% 50.4% 48.6% 0 90 MAY 28 JUN 04 APR 23 MAY 14 JUN 11 JUN 18 JUN 25 MAY 07 APR 30 MAY 21 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 $568.19 $597.51 $641.67 $650.18 $572.00 $578.19 $642.86 $644.81 $563.99 $594.69 $637.47 $637.58 $563.01 $595.13 $644.57 $666.62 $585.59 $603.29 $630.86 $675.19 $597.02 $639.30 $644.49 $742.07 $593.51 $638.63 $641.37 $826.62 JUN 04- JUNE 10 JUN 11- JUN 17 JUN 18 - JUN 24 JUN 25 - JUL 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 JULY 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY SHORT-TERM RENTALS
HOTELS METRICS WEEKLY 74.9% 69.6% 66.5% 70.5% 70.7% 63.7% 71.7% 74.0% 77.0% 74.7% 37.4% 37.1% 36.9% 41.1% 41.5% 45.4% 45.2% 48.5% 50.4% 48.6% 0 100 APR 30 MAY 07 MAY 14 MAY 21 APR 23 JUN 04 JUN 11 JUN 18 JUN 25 MAY 28 HOTEL SHORT-TERM RENTAL $333.41$326.78 $331.76 $299.40 $323.41 $296.78 $321.27 $325.91 $346.37 $345.60 $457.54$460.90 $460.73 $476.02 $476.82 $553.45 $577.62 $606.67 $640.47 $691.87 0 850 APR 30 MAY 07 MAY 14 MAY 21 APR 23 JUN 04 JUN 11 JUN 18 JUN 25 MAY 28 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $249.61$227.35 $220.69 $210.95 $228.54 $188.91 $230.37 $241.28 $266.79 $258.06 $166.27$172.48 $179.90 $196.27 $204.02 $252.91 $261.50 $295.22 $322.90 $337.54 0 400 APR 30 MAY 07 MAY 14 MAY 21 APR 23 JUN 04 JUN 11 JUN 18 JUN 25 MAY 28 HOTEL SHORT-TERM RENTAL
VS.
SHORT-TERM
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 JULY 06, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
RENTALS
HOTELS METRICS MONTHLY 54.9% 65.7% 66.2% 67.6% 68.3% 31.1% 38.4% 41.4% 44.2% 39.8% 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 $321.16 $394.19 $390.62 $468.00 $464.62 $491.16 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 $219.32 $122.70 $149.77 $192.38 $205.36 $195.23 0 450 FEB MAR APR MAY JUN JAN AUG SEP OCT NOV DEC JUL HOTEL SHORT-TERM RENTAL MONTHLY REVPAR
VS.
JULY 06, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS
NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR MAY 2023
(AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR MAY 2023)
SAN DIEGO
JULY - SEPTEMBER 2023
• 7/20 – 7/23: COMIC-CON
• 8/27: BIKE THE BAY
• 9/22 – 9/24: NISSAN SUPER GIRL SURF PRO
LOS ANGELES
JUNE - AUGUST 2023
• 6/23 – 8/18: DANCE DTLA
• 7/15 – 7/16: LOTUS FESTIVAL
HUNTINGTON BEACH
JULY - SEPTEMBER 2023
• 7/27 – 8/6: 2023 WALLEX US OPEN OF SURFING
• 9/17: SURG CITY 10
SANTA BARBARA
JULY - AUGUST 2023
• 7/1 – 7/31: SANTA BARBARA WINE COUNTRY EXPERIENCE
• 7/1 – 7/31: SUMMER ISLAND
GETAWAY
• 8/2 – 8/6: OLD SPANISH DAYS FIESTA
LAGUNA BEACH
JUNE -
2023
• 6/30 – 9/3: SAWDUST ART & CRAFT
FESTIVAL
• 7/5 – 9/1: FESTIVAL OF THE ARTS
• 7/7 – 9/1: PAGEANT OF THE MASTERS
SOURCE:
$321.16 $268.45 $402.07 $273.89 $266.60 $788.94 $227.19 $366.05 68.3% 68.6% 73.3% 65.7% 71.1% 69.7% 70.2% 63.0% 75.1% 75.5% 46 50 58 700 SAN
$181.79 IRVINE
63.3% BEVERLY
SANTA MONICA $206.54 $203.14 HUNTINGTON
NEWPORT
OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
STR
DIEGO DANA POINT
LA JOLLA SANTA BARBARA
HILLS PALM SPRINGS ANAHEIM
BEACH
BEACH
SEPTEMBER