SEPTEMBER 14, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY EXECUTIVE SUMMARY
TRANSPORTATION 2023 VS. 2022 ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE 3.6% (JULY 2023) ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE +5.9% (JULY 2023 vs. JULY 2022) NEWPORT BEACH HOTELS (SEPTEMBER 03 – SEPTEMBER 09, 2023) NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE OPEN HOTELS (ONLY OPEN HOTELS) 61.5% NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS -2.8% 2023 vs. 2022 NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE $213.93 # OF HOTEL ROOMS OPEN FOR BOOKING: 2,977 NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE ALL HOTELS (OPEN & CLOSED HOTELS) 55.7%
ORANGE COUNTY UNEMPLOYMENT
NEWPORT BEACH SHORT-TERM VACATION RENTALS (SEPTEMBER 03 – SEPTEMBER 09, 2023) NEWPORT BEACH SHORT-TERM RENTALS WEEKLY OCCUPANCY RATE 44.4% NEWPORT BEACH SHORT-TERM RENTALS WEEKLY AVERAGE RATE $486.00 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 AUGUST 2023 AUGUST 2022 694,865 1,136,045
SEPTEMBER 14, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY TRANSPORTATION METRICS
GASOLINE: NATIONAL AVG. VS CALIFORNIA AVG. VS HOTEL OCCUPANCY RATE JULY 03, 2023 – SEPTEMBE R 04, 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 73.2% 80.1% 88.8% 86.8% 82.8% 77.6% 71.9% 67.8% 62.1% 61.5% $3.64 $3.66 $3.67 $3.71 $3.86 $3.94 $3.98 $3.93 $3.92 $4.75 $4.78 $4.82 $4.93 $5.00 $5.08 $5.20 $5.21 $5.25 70 80 90 0 JUL 10 JUL 17 $4.81 JUL 03 JUL 31 AUG 07 $3.96 AUG 14 AUG 21 AUG 28 SEP 04 JUL 24 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
SEPTEMBER 14, 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
SEPTEMBER 14, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY VISITATION METRICS
ZARTICO
ZARTICO
VISITATION FROM TOP 10 ORIGIN MARKETS SEPTEMBE R 03 – SEPTEMBER 09, 2023
SOURCE:
SOURCE:
OVERNIGHT
VISITATION SPENDING BY CATEGORY SEPTEMBER 03 – SEPTEMBER 09, 2023 VISITATION BY ORIGIN MARKET CATEGORY TYPE 39.6% 36.5% 10.1% 3.8% 2.9% 2.0% 1.9% 1.3% 1.3% 0.5% Retail Accommodations Gas & Service Stations Transportation Food Outdoor Recreation Attractions Health Business & Professional Nightlife 23.8% 9.8% 8.2% 6.9% 4.9% 3.9% 3.3% 2.8% 2.2% 2.1% San Diego CA Phoenix AZ San Francisco CA Las Vegas NV Los Angeles CA Palm Springs CA Salt Lake City UT Dallas-Ft. Worth TX New York NY Sacramento CA
% OF TOTAL VISITORS BY ORIGIN MARKET
SEPTEMBER 14, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: OCCUPANCY
SOURCE: STR
) )
NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEK OF AUGUST 1 3 – SEPTEMBE R 03, 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)
70.2% 71.2% 75.8% 78.3% 76.9% 68.1% 66.3% 68.8% 60.1% 63.3% 73.2% 80.1% 88.8% 86.7% 82.2% 77.6% 71.9% 67.8% 62.1% 61.5% 0 55 110 AUG 06 AUG 13 JUL 09 JUL 16 AUG 20 AUG 27 SEP 03 JUL 30 JUL 23 JUL 02 2022 2023 WEEKLY OCCUPANCY 57.0% 43.8% 47.4% 77.1% 60.5% 61.0% 55.6% 35.9% 67.5% 68.3% 63.1% 47.1% 80.7% 73.3% 59.4% 60.2% 81.6% 71.0% 50.7% 62.7% 80.2% 74.9% 68.9% 68.7% 75.6% 82.3% 89.4% 78.7% AUG 13 - AUG 19 AUG 20 - AUG 26 AUG 27 - SEP 02 SEP 03 - SEP 09 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
SEPTEMBER 14, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY
HOTEL PERFORMANCE: ADR
SOURCE: STR NEWPORT BEACH HOTELS DAILY ADR BY DAY OF WEEK (WEEK OF AUGUST 1 3 – SEPTEMBE R 03, 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 $420.75$417.73 $439.62 $432.94 $446.59 $419.27 $396.60 $388.67 $373.05 $346.64 $384.75 $402.85 $416.55 $428.07 $412.58 $382.55 $376.89 $351.25 $348.02 250 350 400 450 200 JUL 16 JUL 09 JUL 30 AUG 06 AUG 13 AUG 20 AUG 27 SEP 03 JUL 02 $405.86 JUL 23 2022 2023 $351.97 $386.56 $332.96 $402.06 $365.48 $362.43 $323.81 $312.64 $339.84 $398.99 $328.84 $306.67 $370.23 $364.49 $323.90 $306.77 $374.64 $343.53 $324.25 $326.04 $432.01 $393.25 $360.54 $363.45 $426.67 $389.07 $420.21 $371.58 AUG 13 - AUG 19 AUG 20 - AUG 26 AUG 27 - SEP 02 SEP 03 - SEP 09 $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 $327.80 150 200 250 300 400 450 $321.16 MAY $379.47 $337.10 JUN APR $408.73 JUL $403.73 MAR FEB AUG SEP OCT NOV $308.50 JAN DEC 2022 2023 2021
SEPTEMBER 14, 2023, WEEKLY REPORT
NEWPORT BEACH & COMPANY HOTEL PERFORMANCE: REVPAR
SOURCE: STR
NEWPORT BEACH HOTELS DAILY REVPAR BY DAY OF WEEK (WEEKS OF AUGUST 1 3 - SEPTEMBE R 03, 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 $295.51 $297 $357.62 $338.80 $343.43 $285.48 $263.09 $267.43 $224.38 219.26 $297.18 $308 $333.44 $363.63 $354.58 $320.19 $274.92 $255.53 $218.03 $213.93 AUG 06 JUL 30 AUG 20 JUL 23 JUL 16 AUG 27 SEP 03 JUL 09 JUL 03 AUG 13 2022 2023 $200.67 $169.41 $157.99 $309.91 $221.01 $221.11 $180.05 $112.26 $229.45 $272.33 $207.56 $144.38 $298.79 $267.25 $192.49 $184.68 $305.62 $243.82 $164.30 $204.37 $346.33 $294.67 $248.26 $249.66 $322.58 $320.14 $375.51 $292.27 AUG 13 - AUG 19 AUG 20 - AUG 26 AUG 27 - SEP 02 SEP 03 - SEP 09 $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 $107.24 APR $205.89 MAY $198.54 $253.62 FEB $249.49 $169.04 JUN $326.26 JAN JUL AUG SEP OCT NOV DEC 2022 2023 2021
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 SEPTEMBER 14, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY SHORT-TERM RENTALS VS. HOTELS METRICS WEEKLY 73.2% 80.1% 88.8% 86.8% 82.8% 77.6% 71.9% 67.8% 62.1% 61.5% 53.8% 51.0% 52.0% 56.8% 55.8% 53.8% 51.9% 46.7% 46.4% 44.4% 0 100 JUL 09 JUL 16 JUL 23 JUL 30 JUL 02 AUG 13 AUG 20 AUG 27 SEP 03 AUG 06 HOTEL SHORT-TERM RENTAL $405.86$384.75 $402.85 $416.55 $428.07 $412.58 $382.55 $376.89 $351.25 $348.02 $821.83$785.94 $743.92 $737.00 $705.00 $638.67 $595.49 $536.50 $535.00 $486.00 0 850 JUL 09 JUL 16 JUL 23 JUL 30 JUL 02 AUG 13 AUG 20 AUG 27 SEP 03 AUG 06 HOTEL SHORT-TERM RENTAL WEEKLY OCCUPANCY RATE WEEKLY ADR WEEKLY REVPAR $297.18$308.20 $357.60 $361.63 $354.58 $320.19 $274.92 $255.53 $218.03 $213.93 $437.10 $381.50 $384.02 $419.00 $394.00 $343.57 $309.25 $250.78 $248.40 $215.77 0 400 800 AUG 06 AUG 13 JUL 09 JUL 16 AUG 20 AUG 27 SEP 03 JUL 30 JUL 23 JUL 02 HOTEL SHORT-TERM RENTAL
SEPTEMBER 14, 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 AUGUST0 1 3 - SEPTEMBE R 03, 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 53.8% 47.0% 46.0% 47.0% 49.0% 44.3% 43.8% 39.8% 35.7% 36.9% 53.2% 51.2% 52.0% 57.0% 57.0% 53.8% 51.9% 46.7% 46.4% 44.4% 0 90 JUL 23 JUL 30 AUG 06 JUL 02 AUG 20 AUG 27 JUL 16 JUL 08 SEP 03 AUG 13 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 $611.18 $552.42 $522.17 $577.36 $608.88 $529.64 $494.68 $486.62 $603.25 $523.79 $484.65 $441.77 $590.86 $526.01 $490.63 $430.24 $592.59 $530.17 $540.28 $459.51 $590.53 $548.09 $586.75 $484.34 $573.57 $545.39 $589.02 $485.27 AUG 13 - AUG 19 AUG 20 - AUG 26 AUG 27 - SEP 02 SEP 03 - SEP 09
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 SEPTEMBER 14, 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.
SEPTEMBER 14, 2023, WEEKLY REPORT NEWPORT BEACH & COMPANY
COMPETITIVE CITY METRICS AND EVENTS NEWPORT
SAN DIEGO
JULY - SEPTEMBER 2023
• 9/22 – 9/24: NISSAN SUPER GIRL
SURF PRO
LOS ANGELES
JUNE - AUGUST 2023
• 9/7 – 10: LES MISERABLES TOURING
• 9/22 – 10/31: HAUNTED HAYRIDE
HUNTINGTON BEACH
JULY - SEPTEMBER 2023
• 9/17: SURF CITY 10
JULY - AUGUST 2023
• 10/6 – 8: NaturalTrack Film Festival
• 10/04 – SB Vintners Festival
JUNE
• 7/5 – 9/1: FESTIVAL OF THE ARTS
• 7/7 – 9/1: PAGEANT OF THE MASTERS
SANTA BARBARA
HOTELS COMPETITIVE CITIES
AUGUST 2023 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR JULY 2023) 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 $151.41 PALM SPRINGS
SAN
HUNTINGTON
NEWPORT BEACH OCCUPANCY RATE (%) AVERAGE DAILY RATE ($)
BEACH
FOR
ANAHEIM SANTA MONICA
DIEGO
BEACH
LAGUNA BEACH
- SEPTEMBER 2023