NEWPORT BEACH ECONOMIC DASHBOARD: August 17, 2023

Page 1

AUGUST 17, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY

TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.7% (JUNE 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +4.1% (JUNE 2023 vs. JUNE 2022) NEWPORT BEACH HOTELS (AUGUST 06 - 12, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 77.6% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 14.0% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $412.58 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 70.3%
ORANGE COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS (AUGUST 06 - 12, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 55.8% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $705.00 SOURCE: STR, OCAIR.COM, KEY DATA DASHBOARD , OPENTABLE.COM, BLS.GOV, GOODCARBADCAR.NET ORANGE COUNTY/JOHN WAYNE AIRPORT # OF MONTHLY PASSENGERS JUNE 2023 JUNE 2022 1,059,277 1,001,249 +5.4% US AUTO MARKET SALES BY MONTH JUNE 2023 JUNE 2022 1,369,636 1,091,699 +20.2%

AUGUST 17, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY TRANSPORTATION METRICS

GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JUN E 05, 2023 – AUGUS T 07, 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 71.7% 74.0% 77.0% 74.7% 73.2% 80.1% 88.8% 86.8% 82.8% 77.6% $3.69 $3.66 $3.66 $3.67 $3.71 $3.86 $4.76 $4.82 $4.79 $4.75 $4.75 $4.78 $4.82 $4.81 $4.93 $5.00 70 80 90 0 JUN 05 $3.71 JUN 12 JUN 19 $3.66 $3.64 JUL 03 JUL 10 JUL 17 JUL 24 JUL 31 AUG 07 $3.94 JUN 26 OCCUPANCY RATE NATIONAL GAS PRICE CALIFORNIA GAS PRICE 881,049 944,544 992,569 1,041,342 1,059,614 916,767 958,826 1,003,5101,001,249 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 FEB 385,396 227,402 MAR 717,400 841,593 APR JAN 585,735 MAY 730,144 JUN JUL AUG SEP OCT NOV 360,402 DEC 2022 2021 2023

AUGUST 17, 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
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% 3.0% 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 JAN 6.0% 65.7% FEB 5.0% 66.2% MAR 4.9% 67.6% APR 4.0% 6.4% MAY JUN JUL AUG SEP OCT NOV DEC 74.0% 3.0% 54.9% 68.3% 2023 INFLATION RATE 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) INFLATION RATE VS OCCUPANCY RATE
RATE

AUGUST 17, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY VISITATION METRICS

ZARTICO
ZARTICO
VISITATION
TOP
ORIGIN
AUGUST 06 - 12, 2023
SOURCE:
SOURCE:
OVERNIGHT
FROM
10
MARKETS
VISITATION SPENDING BY CATEGORY AUGUST 06 - 12, 2023 VISITATION BY ORIGIN MARKET CATEGORY TYPE 41.9% 30.4% 7.6% 5.5% 5.1% 3.9% 2.5% 1.4% 1.1% 0.5% Retail Accommodations Nightlife Transportation Food Outdoor Recreation Health Attractions Business & Professional Gas & Service Stations 29.8% 10.3% 7.8% 6.7% 5.0% 4.4% 4.3% 2.6% 2.0% 1.7% San Diego CA San Francisco CA Phoenix AZ Sacramento CA Los Angeles CA Las Vegas NV Salt Lake City UT Fresno-Visalia CA Seattle-Tacoma WA Palm Springs CA % OF TOTAL

AUGUST 17, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: OCCUPANCY

SOURCE: STR NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEK OF JULY 1 6 – AUGUST 0 6 , 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)
67.3% 62.0% 67.4% 65.8% 70.2% 71.2% 75.8% 78.3% 76.9% 68.1% 71.7% 74.0% 77.0% 74.7% 73.2% 80.1% 88.8% 86.7% 82.2% 77.6% 0 55 110 JUN 11 JUN 18 JUN 25 JUL 02 JUN 04 JUL 16 JUL 23 JUL 30 AUG 06 JUL 09 2022 2023 WEEKLY OCCUPANCY 75.9% 78.1% 68.8% 73.1% 86.3% 87.3% 73.3% 74.9% 86.8% 91.4% 80.4% 80.9% 94.1% 88.3% 82.6% 74.4% 91.3% 85.6% 86.2% 73.2% 91.6% 87.9% 91.8% 82.0% 95.3% 89.2% 96.8% 84.7% JUL 16- JUL 22 JUL 23- JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 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% 73.5% 67.9% 70.1% 68.4% 56.6% 54.9% 65.7% 66.2% 67.6% 68.3% 74.0% APR 60.2% MAR MAY FEB 64.2% 52.7% JUN JAN 37.5% JUL AUG SEP OCT 61.0% NOV DEC 2022 2023 2021

AUGUST 17, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY

HOTEL PERFORMANCE: ADR

SOURCE: STR NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEK OF JULY 16 – AUGUST 06, 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 $364.67 $382.91 $381.25 $397.95 $420.75 $417.73 $439.62 $432.94 $446.59 $419.27 $321.27$325.91 $346.37 $345.60 $384.75 $402.85 $416.55 $428.07 $412.58 250 350 400 450 200 JUN 11 JUN 18 JUN 04 $405.86 JUL 02 JUL 09 JUL 16 JUL 23 JUL 30 AUG 06 JUN 25 2022 2023 $367.02 $369.94 $383.21 $407.44 $376.99 $386.93 $376.83 $394.16 $409.33 $410.48 $414.32 $405.92 $400.55 $403.09 $423.14 $403.70 $390.19 $416.23 $424.40 $414.80 $423.34 $448.72 $468.28 $424.78 $443.57 $474.49 $479.51 $433.72 JUL 16 - JUL 22 JUL 23 - JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 $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 $337.10 JUN $397.40 $444.09 APR JUL $403.73 MAR $407.58 FEB AUG SEP OCT NOV $308.50 JAN DEC 2022 2023 2021

AUGUST 17, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR

SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF JULY 1 6 - AUGUST 06, 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 $245.59 $237.59 $256.89 $261.66 $295.51 $297 $338.80 $343.43 $285.48 $230.37 $241.28 $266.79 $258.06 $297.18 $308 $363.63 $354.58 $320.19 JUN 25 JUN 04 JUL 09 $357.62 JUN 18 $333.44 JUN 11 JUL 16 JUL 23 JUL 30 AUG 06 JUL 03 2022 2023 $367.02 $288.88 $263.62 $297.92 $376.99 $337.72 $276.30 $295.35 $409.33 $375.35 $332.99 $328.28 $400.55 $355.88 $349.30 $300.20 $390.19 $356.17 $365.86 $303.58 $423.34 $394.36 $429.78 $348.52 $443.57 $423.06 $464.22 $367.50 JUL 16 - JUL 22 JUL 23 - JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 $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 MAR $107.24 APR $205.89 MAY $198.54 $253.62 FEB $249.49 $169.04 JUN $284.44 $326.26 JAN JUL AUG SEP OCT NOV DEC 2022 2023 2021

AUGUST 17, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY SHORT-TERM RENTAL

SOURCE: KEY DATA DASHBOARD – AIRbnb, VRBO NEWPORT BEACH SHORT-TERM RENTALS DAILY ADR BY DAY OF WEEK (WEEKS OF JULY 1 6 - AUGUST 06, 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)
METRICS WEEKLY ADR REVPAR BY MONTH 47.6% 48.2% 46.1% 47.3% 53.8% 47.0% 46.0% 47.0% 49.0% 44.3% 45.2% 48.5% 50.4% 48.6% 53.2% 51.2% 52.0% 57.0% 57.0% 53.8% 0 90 JUN 25 JUN 18 JUN 11 JUL 02 JUL 08 JUL 16 JUL 23 JUL 30 AUG 06 JUN 04 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 $418.19 $185.43 $176.72 $188.93 $151.99 $205.36 $424.78 100 150 250 300 350 400 450 MAR $220.88 APR $233.43 $195.08 FEB MAY $347.86 $296.36 $137.18 JUN JAN JUL $266.55 $307.81 AUG $238.19 SEP $186.77 $128.19 $123.80 OCT NOV DEC 2022 2023 2021 WEEKLY OCCUPANCY $742.48 $732.63 $703.67 $654.71 $734.99 $727.21 $699.00 $644.74 $736.75 $730.68 $710.47 $624.72 $732.96 $740.18 $708.85 $632.30 $740.58 $746.38 $707.94 $635.97 $749.05 $750.47 $710.91 $639.50 $762.51 $733.36 $694.78 $638.78 JUL 16 - JUL 22 JUL 23 - JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12
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 AUGUST 17, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS WEEKLY 71.7% 74.0% 77.0% 74.7% 73.2% 80.1% 88.8% 86.8% 82.8% 77.6% 45.2% 48.5% 50.4% 48.6% 53.8% 51.0% 52.0% 56.8% 55.8% 53.8% 0 100 JUN 11 JUN 18 JUN 25 JUL 02 JUN 04 JUL 16 JUL 23 JUL 30 AUG 06 JUL 09 HOTEL SHORT-TERM RENTAL $321.27$325.91 $346.37 $345.60 $405.86 $384.75 $402.85 $416.55 $428.07 $412.58 $577.62$606.67 $640.47 $691.87 $821.83 $785.94 $743.92 $737.00 $705.00 $638.67 0 850 JUN 11 JUN 18 JUN 25 JUL 02 JUN 04 JUL 16 JUL 23 JUL 30 AUG 06 JUL 09 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $230.37$241.28 $266.79 $258.06 $297.18 $308.20 $357.60 $361.63 $354.58 $320.19 $261.50$295.22 $322.90 $337.54 $437.10 $381.50 $384.02 $419.00 $394.00 $343.57 0 400 800 JUN 11 JUN 18 JUN 25 JUL 02 JUN 04 JUL 16 JUL 23 JUL 30 AUG 06 JUL 09 HOTEL SHORT-TERM RENTAL
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 AUGUST 17, 2023, WEEKLY REPORT NEWPORT
& COMPANY
RENTALS
HOTELS METRICS MONTHLY 54.9% 65.7% 66.2% 67.6% 68.3% 74.0% 31.1% 38.4% 41.4% 44.2% 39.8% 47.7% 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 $337.10 $394.19 $390.62 $468.00 $464.62 $618.01 0 850 FEB MAR APR MAY JUN JUL JAN SEP OCT NOV DEC $491.16 AUG 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 APR MAY JUN JUL AUG JAN OCT NOV DEC $249.49 $294.88 MAR FEB SEP HOTEL SHORT-TERM RENTAL MONTHLY REVPAR
BEACH
SHORT-TERM
VS.

AUGUST 17, 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 JUNE 2023)

SAN DIEGO

JULY - SEPTEMBER 2023

• 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

• 8/01 – 8/20: HOLLYSHORTA FILM

HUNTINGTON BEACH

JULY - SEPTEMBER 2023

• 7/27 – 8/6: 2023 WALLEX US OPEN OF SURFING

• 9/17: SURF CITY 10

SANTA BARBARA

JULY - AUGUST 2023

• 8/10 – 8/31: REEF & RUN

• 8/10 – 8/31: SUMMER ISLAND

GETAWAY

LAGUNA BEACH

JUNE - SEPTEMBER 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

FESTIVAL
SOURCE: STR $337.10 $287.22 $222.75 $402.53 $317.92 $292.19 $767.14 $243.12 $386.89 74.0% 77.9% 84.1% 69.9% 75.9% 80.6% 72.9% 59.4% 78.6% 79.0% 600 160 60.5% SANTA
ANAHEIM
$164.85 BEVERLY
LA
IRVINE DANA
SAN
HUNTINGTON
$192.37 NEWPORT BEACH OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
MONICA
PALM SPRINGS
HILLS SANTA BARBARA
JOLLA
POINT
DIEGO
BEACH

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.