NEWPORT BEACH ECONOMIC DASHBOARD: August 25, 2023

Page 1

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 13 - 19, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 71.9% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS 8.3% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $382.55 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 70.3%
NEWPORT BEACH SHORT-TERM VACATION RENTALS (AUGUST 13 - 19, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 51.9% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $595.49 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 JULY 2023 JULY 2022 711,671 1,125,419
ORANGE COUNTY UNEMPLOYMENT
AUGUST 25, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY

AUGUST 25, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY TRANSPORTATION METRICS

GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JUNE 1 2 , 2023 – AUGUST 14, 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 74.0% 77.0% 74.7% 73.2% 80.1% 88.8% 86.8% 82.8% 77.6% 71.9% $3.71 $3.69 $3.66 $3.64 $3.66 $3.67 $3.71 $3.86 $3.94 $4.82 $4.79 $4.75 $4.75 $4.78 $4.82 $4.93 $5.00 $5.08 70 80 90 0 JUN 19 JUN 26 JUL 03 JUN 12 JUL 17 JUL 24 JUL 31 AUG 07 AUG 14 $4.81 $3.96 JUL 10 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 25, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY

ECONOMIC METRICS

U.S. INFLATION CALCULATOR
U.S. INFLATION CALCULATOR, STR
INFLATION
YOY COMPARISON (2021 – 2023)
SOURCE:
SOURCE:
RATE OF
BY MONTH
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% 4.9% APR 5.0% 8.6% 4.0% MAY 5.4% 1.4% 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 3.2% 9.1% 2022 2023 2021 INFLATION RATE JAN 6.0% 65.7% FEB 5.0% 66.2% MAR 4.9% 67.6% APR 4.0% 68.3% 6.4% 3.0% 54.9% 74.0% JUN JUL AUG SEP OCT NOV DEC 3.2% 81.4% MAY 2023 INFLATION RATE 2023 NEWPORT BEACH HOTEL OCCUPANCY RATE (%) INFLATION RATE VS OCCUPANCY RATE
RATE

AUGUST 25, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY VISITATION METRICS

ZARTICO
VISITATION FROM TOP
ORIGIN
AUGUST 1 3 - 19, 2023
SOURCE: ZARTICO SOURCE:
OVERNIGHT
10
MARKETS
VISITATION SPENDING BY CATEGORY AUGUST 1 3 - 19, 2023 VISITATION BY ORIGIN MARKET CATEGORY TYPE 43.5% 37.8% 5.8% 4.0% 3.1% 2.7% 1.3% 0.8% 0.6% 0.5% Retail Transportation Accommodations Gas & Service Stations Food Outdoor Recreation Health Attractions Business & Professional Nightlife 26.3% 11.5% 7.2% 6.4% 4.6% 3.9% 3.1% 2.5% 2.2% 2.1% San Diego CA San Francisco CA Phoenix AZ Las Vegas NV Los Angeles CA Palm Springs CA Fresno-Visalia CA Bakersfield CA Dallas-Ft. Worth TX Sacramento CA
% OF TOTAL VISITORS BY ORIGIN MARKET

AUGUST 25, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY

HOTEL PERFORMANCE: OCCUPANCY

SOURCE: STR NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEK OF JULY 2 3 – AUGUST 1 9 , 2023 ) ) NEWPORT
AVERAGE MONTHLY OCCUPANCY RATE (YEAR - OVER - YEAR COMPARISON FOR 2023, 2022 & 2021) NEWPORT
HOTELS WEEKLY OCCUPANCY RATE (2023 v 2022)
BEACH HOTELS
BEACH
62.0% 67.4% 65.8% 70.2% 71.2% 75.8% 78.3% 76.9% 68.1% 66.3% 74.0% 77.0% 74.7% 73.2% 80.1% 88.8% 86.7% 82.2% 77.6% 71.9% 0 55 110 JUN 18 JUN 25 JUL 02 JUL 09 JUN 11 JUL 23 JUL 30 AUG 06 AUG 13 JUL 16 2022 2023 WEEKLY OCCUPANCY 78.1% 68.8% 73.1% 57.0% 87.3% 73.3% 74.9% 60.5% 91.4% 80.4% 80.9% 67.5% 88.3% 82.6% 74.4% 80.7% 85.6% 86.2% 73.2% 81.6% 87.9% 91.8% 82.0% 80.2% 89.2% 96.8% 84.7% 75.6% JUL 23- JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 AUG 13 - AUG 19 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 25, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY

HOTEL PERFORMANCE: ADR

SOURCE: STR NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEK OF JULY 2 3 – AUGUST 1 9 , 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 $382.91$381.25 $397.95 $420.75 $417.73 $439.62 $432.94 $446.59 $419.27 $396.60 $325.91 $346.37 $345.60 $384.75 $402.85 $416.55 $428.07 $412.58 $382.55 250 350 400 450 200 JUN 18 JUN 25 JUN 11 JUL 02 JUL 09 JUL 16 JUL 23 JUL 30 AUG 06 AUG 13 $405.86 2022 2023 $369.94 $383.21 $407.44 $351.97 $386.93 $376.83 $394.16 $365.48 $410.48 $414.32 $405.92 $339.84 $403.09 $423.14 $403.70 $370.23 $416.23 $424.40 $414.80 $374.64 $448.72 $468.28 $424.78 $432.01 $474.49 $479.51 $433.72 $426.67 JUL 23 - JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 AUG 13 - AUG 19 $243.75 $255.16 $278.18 $296.71 $287.16 $316.50 $397.40 $338.41 $303.37 $311.15 $338.97 $306.70 $320.66 $323.93 $330.92 $341.95 $444.09 $407.58 $359.90 $333.91 $328.49 $334.66 $297.65 $323.83 $327.80 200 250 300 400 450 150 $321.16 $379.47 $337.10 JUN JUL $403.73 APR MAR AUG SEP OCT NOV FEB $308.50 DEC $408.73 JAN MAY 2022 2023 2021

AUGUST 25, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR

SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF JULY 2 3 - AUGUST 1 9 , 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 $237.59 $256.89 $261.66 $295.51 $297 $338.80 $343.43 $285.48 $263.09 $241.28 $266.79 $258.06 $297.18 $308 $363.63 $354.58 $320.19 274.92 JUL 03 JUN 25 $357.62 JUN 18 $333.44 JUN 11 JUL 16 JUL 23 JUL 30 AUG 06 AUG 13 JUL 09 2022 2023 $288.88 $263.62 $297.92 $200.67 $337.72 $276.30 $295.35 $221.01 $375.35 $332.99 $328.28 $229.45 $355.88 $349.30 $300.20 $298.79 $356.17 $365.86 $303.58 $305.62 $394.36 $429.78 $348.52 $346.33 $423.06 $464.22 $367.50 $322.58 JUL 23 - JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 AUG 13 - AUG 19 $55.35 $75.46 $141.42 $151.26 $284.44 $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 $332.86 MAR APR $205.89 MAY $198.54 $253.62 JAN $169.04 $107.24 JUN $326.26 FEB JUL AUG SEP OCT NOV DEC $249.49 2022 2023 2021

AUGUST 25, 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 JULY 2 3 - AUGUST 1 9 , 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 48.2% 46.1% 47.3% 53.8% 47.0% 46.0% 47.0% 49.0% 44.3% 43.8% 48.5% 50.4% 48.6% 53.2% 51.2% 52.0% 57.0% 57.0% 53.8% 51.9% 0 90 JUN 25 JUN 18 JUN 11 JUL 08 JUL 16 JUL 23 JUL 30 AUG 06 AUG 13 JUL 02 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 $732.63 $703.67 $654.71 $611.18 $727.21 $699.00 $644.74 $608.88 $730.68 $710.47 $624.72 $603.25 $740.18 $708.85 $632.30 $590.86 $746.38 $707.94 $635.97 $592.59 $750.47 $710.91 $639.50 $590.53 $733.36 $694.78 $638.78 $573.57 JUL 23 - JUL 29 JUL 30 - AUG 05 AUG 06 - AUG 12 AUG 13 - AUG 19
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 25, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS WEEKLY 74.0% 77.0% 74.7% 73.2% 80.1% 88.8% 86.8% 82.8% 77.6% 71.9% 48.5% 50.4% 48.6% 53.8% 51.0% 52.0% 56.8% 55.8% 53.8% 51.9% 0 100 JUN 18 JUN 25 JUL 02 JUL 09 JUN 11 JUL 23 JUL 30 AUG 06 AUG 13 JUL 16 HOTEL SHORT-TERM RENTAL $325.91$346.37 $345.60 $405.86 $384.75 $402.85 $416.55 $428.07 $412.58 $382.55 $606.67$640.47 $691.87 $821.83 $785.94 $743.92 $737.00 $705.00 $638.67 $595.49 0 850 JUN 18 JUN 25 JUL 02 JUL 09 JUN 11 JUL 23 JUL 30 AUG 06 AUG 13 JUL 16 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $241.28$266.79 $258.06 $297.18 $308.20 $357.60 $361.63 $354.58 $320.19 $274.92 $295.22$322.90 $337.54 $437.10 $381.50 $384.02 $419.00 $394.00 $343.57 $309.25 0 400 800 JUN 18 JUN 25 JUL 02 JUL 09 JUN 11 JUL 23 JUL 30 AUG 06 AUG 13 JUL 16 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 25, 2023, WEEKLY REPORT NEWPORT
& COMPANY
RENTALS
HOTELS METRICS MONTHLY 54.9% 65.7% 66.2% 67.6% 68.3% 74.0% 81.4% 31.1% 38.4% 41.4% 44.2% 39.8% 47.7% 56.8% 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 $337.10 $408.73 $394.19 $390.62 $468.00 $464.62 $750.17 0 850 FEB MAR APR $491.16 MAY JUN JAN AUG SEP OCT NOV DEC $618.01 JUL HOTEL SHORT-TERM RENTAL MONTHLY OCCUPANCY RATE MONTHLY ADR $163.45 $202.61 $214.28 $221.63 $219.32 $249.49 $122.70 $149.77 $192.38 $205.36 $195.23 $294.88 $425.89 0 450 FEB MAR APR MAY JUN JUL JAN SEP OCT NOV DEC $332.86 AUG HOTEL SHORT-TERM RENTAL MONTHLY REVPAR
BEACH
SHORT-TERM
VS.

AUGUST 25, 2023, WEEKLY REPORT

NEWPORT BEACH & COMPANY

COMPETITIVE CITY METRICS AND EVENTS

NEWPORT BEACH HOTELS COMPETITIVE CITIES FOR AUGUST 2023 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR JULY 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 FESTIVAL

HUNTINGTON BEACH

JULY - SEPTEMBER 2023

• 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

SOURCE: STR $408.73 $355.14 $258.61 $493.74 $379.39 $316.65 $816.47 $236.32 $409.69 81.4% 85.6% 87.2% 79.5% 80.0% 85.3% 81.5% 51.7% 79.5% 80.9% 16 240 500 760 DANA POINT $217.29 IRVINE LA JOLLA SANTA BARBARA 60.1% BEVERLY HILLS $151.41 PALM SPRINGS
SANTA
SAN
HUNTINGTON
NEWPORT BEACH OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
ANAHEIM
MONICA
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.