Issuu

MARCH 23, 2022 WEEKLY REPORT

NEWPORT BEACH & COMPANY

COVID-19 ECONOMIC RECOVERY DASHBOARD

EXECUTIVE SUMMARY

NEWPORT BEACH HOTELS

ORANGE COUNTY UNEMPLOYMENT

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY UNEMPLOYMENT RATE

(MARCH 13 - 19, 2022)

OPEN HOTELS (ONLY OPEN HOTELS)

66.7%

(JANUARY 2022)

4.2%

(MARCH 13 - 19, 2022)

(JANUARY 2022)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

63.1%

+58.1%

(MARCH 13 - 19, 2022)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

+74.6%

(JANUARY 2022 vs. JANUARY 2021)

JOHN WAYNE AIRPORT (SNA) (JANUARY 2022 vs. JANUARY 2021)

(MARCH 13 - 19, 2022) 2021 vs. 2020

ORANGE COUNTY/JOHN WAYNE AIRPORT

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$364.45

MONTHLY # OF NOTE: COMPARING LASTPASSENGERS GOOD YEAR (2019) WITH CURRENT YEAR (2021) JAN 2021 JAN 2022

195,290

(March 6 – 9, 2022)

630,402

NOTE: COMPARING LAST GOOD YEAR (2019) WITH CURRENT YEAR (2021)

CLOSED HOTELS:

PENDRY NEWPORT BEACH

# OF HOTEL ROOMS OPEN FOR BOOKING:

3,056 # OF HOTEL ROOMS CLOSED:

295

CALIFORNIA & LA RESTAURANTS (WEEK OF WEEK OF MARCH 16 - 22, 2022)

YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-0.75% U.S. TOTAL AUTOMOBILE SALES (FEBRUARY 2021 vs. FEBRUARY 2022) U.S. MARKET AUTO SALES BY MONTH FEB 2021 FEB 2022

1,256,529

545,124

-9.70%

(WEEK OF MARCH 16 - 22, 2022) 2021 vs. 2020

% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES

94%

91%

(WEEK OF MARCH 16 - 22, 2022)

MARCH 23, 2022 WEEKLY REPORT

NEWPORT BEACH & COMPANY

COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE WEEKLY OCCUPANCY RATE (%)

(2022 vs. 2021)

68.3%

75 65 51.1%

55 45

31.1%

32.1% 21.4%

39.0%

46.6%

40.9%

36.9%

54.7%

56.6%

56.5%

33.2%

30.9%

30.8%

19-FEB

26-FEB

5-MAR

49.2%

30.6%

24.6%

24.2%

15-JAN

22-JAN

21.3%

21.9%

29-JAN

5-FEB

33.9%

66.7%

38.2%

15 1-JAN

8-JAN

12-FEB

THIS YEAR

12-MAR 19-MAR

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY DAY OF WEEK (WEEKS OF FEBRUARY 13 – MARCH 19, 2022)

DAILY OCCUPANCY RATE (%)

90.0% 80.0% 70.0% 60.0% 50.0%

72.0% 63.1% 54.7% 51.5% 45.1% 50.8% 45.6%

60.6% 58.9%

56.5% 53.5% 59.4% 48.0%

59.2%

77.6% 75.6% 70.2% 72.1% 68.4% 62.8%

72.9% 69.6% 70.7% 67.8% 65.4% 66.6% 54.2%

50.9%

40.0% 30.0% 20.0% 10.0% 0.0% FEB 13-19, 2022

FEB 20-26, 2022 SUN

MON

TUE

MAR 6-12, 2022 WED

THU

FRI

MAR 13-19, 2022

SAT

NEWPORT BEACH HOTELS AVERAGE MONTHLY OCCUPANCY RATE (YEAR-OVER-YEAR COMPARISON FOR 2022, 2021 & 2020)

MONTHLY AVERAGE DAILY RATE ($)

100.0% 80.0%

69.1%

52.7%

60.0% 40.0% 20.0%

79.8%

38.5%

37.5%

22.7%

29.6%

30.0%

0.0% JAN

FEB

47.7%

MAR

52.6%

27.6% 13.5% APR

MAY

2022 SOURCE: MARCH 23, 2022, STR.COM: MONTHLY DATA THROUGH FEBRUARY 2022

62.6%

37.3%

JUN 2021

71.6%

38.2%

JUL 2020

61.7%

58.1%

59.8%

44.2%

43.9%

45.2%

AUG

SEP

53.4%

34.3% OCT

NOV

51.1%

25.0% DEC

MARCH 23, 2022 WEEKLY REPORT

NEWPORT BEACH & COMPANY

COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE AVERAGE WEEKLY RATE ($)

(WEEKS OF DECEMBER 25, 2021 – MARCH 12, 2022)

$450.63

470 420

$364.45

370 320

$290.86

$310.82

$321.20

$335.55 $298.45

$292.15

$265.92 $255.43

$334.10

$313.70

$310.23

$308.80

$274.37

$268.24

5-MAR

12-MAR 19-MAR

$310.72

270 220

$265.66

$264.58

$263.99

$263.31

8-JAN

15-JAN

22-JAN

29-JAN

1-JAN

5-FEB

12-FEB

THIS YEAR

$265.65

$263.03

19-FEB

26-FEB

$274.78

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE $400 $350 $300 $250 $200 $150 $100 $50 $0

[

$327 $288

$292

$301

$313

$322

$337 $295

$314

$349 $284

$280

$308

$358

$344 $294

$295

$288

$295

$293

$337

$363

$362

$358

$367

$372

$364

$365

2/ 20 /2 2/ 2 21 /2 2/ 2 22 /2 2/ 2 23 /2 2/ 2 24 /2 2/ 2 25 /2 2/ 2 26 /2 2/ 2 27 /2 2/ 2 28 /2 2 3/ 1/ 22 3/ 2/ 22 3/ 3/ 22 3/ 4/ 22 3/ 5/ 22 3/ 6/ 22 3/ 7/ 22 3/ 8/ 22 3/ 9/ 2 3/ 2 10 /2 3/ 2 11 /2 3/ 2 12 /2 3/ 2 13 /2 3/ 2 14 /2 3/ 2 15 /2 3/ 2 16 /2 3/ 2 17 /2 3/ 2 18 /2 3/ 2 19 /2 2

AVERAGE DAILY RATE ($)

(FEBRUARY 20 – MARCH 19, 2022)

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES FOR FEBRUARY 2022 (AVERAGE MONTHLY HOTEL RATE & MONTHLY OCCUPANCY RATE FOR DECEMBER 2021)

MONTHLY AVERAGE HOTEL RATE ($)

$800

64%

66%

53%

65%

68%

60%

68%

72%

68%

73%

53%

$600 $400 $200 $0

OCCUPANCY RATE (%)

$1,000

80% 60% 40% 20%

$318

$227

$171

$353

$154

$241

$267

$868

$241

$191

$442

NEWPORT BEA CH

HUNTINGTON BEA CH

SA N DIEGO

DA NA POINT

IRVINE

LA JOLLA

SA NTA BARBARA

BEVERYLY HILLS

PALM SPRINGS

ANAHEIM

SA NTA MONICA

AVERAGE DAILY RATE ($) SOURCE: MARCH 23 23, 2022, STR.COM: MONTHLY DATA THROUGH FEBRUARY 2022

OCCUPANCY RATE (%)

MARCH 23, 2022 WEEKLY REPORT

NEWPORT BEACH & COMPANY

COVID-19 ECONOMIC RECOVERY DASHBOARD

RESTAURANT & AIRPORT METRICS CALIFORNIA & LA DAILY SEATED DINERS FROM ONLINE, PHONE OR WALK-IN 2/ 24 / 2/ 22 25 / 2/ 22 26 / 2/ 22 27 / 2/ 22 28 / 3/ 22 1/ 2 3/ 2 2/ 2 3/ 2 3/ 2 3/ 2 4/ 2 3/ 2 5/ 2 3/ 2 6/ 2 3/ 2 7/ 2 3/ 2 8/ 2 3/ 2 9/ 2 3/ 2 10 / 3/ 22 11 / 3/ 22 12 / 3/ 22 13 / 3/ 22 14 / 3/ 22 15 / 3/ 22 16 / 3/ 22 17 / 3/ 22 18 / 3/ 22 19 / 3/ 22 20 / 3/ 22 21 / 3/ 22 22 /2 2

% CHANGE IN WEEKLY SEATED DINERS

(YEAR-OVER-YEAR PERCENT CHANGE 2022 vs. 2021)

45 25 5 -15 -35 -55 -75 CALIFORNIA RESTAURANTS

LOS ANGELES RESTAURANTS

% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK

105% 95%

90%

85%

93%

75%

92%

91%

92%

93%

94%

88%

90%

89%

91%

FEB 16

FEB 23

MAR 2

MAR 9

MAR 16

65% 55% 45% 35% FEB 9

CALI FORNI A

LOS ANGELES

ORANGE COUNTY/JOHN WAYNE AIRPORT (SNA) MONTHLY PASSENGER TRAFFIC MONTHLY PASSENGER TRAFFIC

(2022, 2021 & 2020)

1,000,000 900,000 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 -

890,185

806,386

730,144

764,506 495,592

831,522

873,422 783,737

854,393

847,671

585,735

385,396 360,402

181,486

337,981 195,290

227,402

JAN

FEB

25,313 MAR

APR

239,120

266,986

274,813

307,865

277,020

231,033

82,342

MAY 2022

SOURCE: OPENTABLE AND SNA/JWA AIRPORT : MONTHLY DATA THROUG JANUARY 2022

JUN 2021

JUL

AUG 2020

SEP

OCT

NOV

DEC

MARCH 23, 2022 WEEKLY REPORT

NEWPORT BEACH & COMPANY

COVID-19 ECONOMIC RECOVERY DASHBOARD

UNEMPLOYMENT & AUTOMOBILE METRICS 2020-2021 ORANGE COUNTY UNEMPLOYMENT RATE BY MONTH PERCENTAGE RATE (%)

(CALIFORNIA vs. ORANGE COUNTY)

10.0% 8.0% 6.0% 4.0% 2.0% 0.0%

9.0%

8.5%

7.3%

JAN 2021

8.3% 6.7%

FEB 2021

8.0% 6.4%

7.7% 6.2%

MAR 2021

APR 2021

7.6% 5.8%

MAY 2021

6.5%

JUN 2021

7.6% 6.3%

7.0%

JUL 2021

CALIFORNIA

6.0%

6.4%

AUG 2021

5.0%

SEP 2021

6.1% 5.8% 5.8% 4.7% 4.1%

OCT 2021

NOV 2021

5.8% 3.7%

4.2%

DEC 2021

JAN 2022

DEC 2021

JAN 2022

ORANGE COUNTY

2020-2021 ORANGE COUNTY MONTHLY NUMBER OF LEISURE & HOSPITALITY EMPLOYEES PERCENT CHANGE YOY PERCENT CHANGE (%)

(CALIFORNIA vs. ORANGE COUNTY)

JAN 2021 80.0% 60.0% 40.0% 20.0% 0.0% -20.0% -40.0% -60.0%

FEB 2021

MAR 2021

APR 2021

MAY 2021

JUN 2021

JUL 2021

AUG 2021

SEP 2021

OCT 2021

62.6% 47.8% 39.1% 46.5% 38.0% 37.5% 38.8% 35.6% 30.5% 30.4% 27.3% 20.2% 24.8% 24.6%

NOV 2021

58.1% 38.7% 23.4% 43.3% 33.4% 22.8%

-29.1% -33.9% -38.8% -32.3% -38.6% -41.6% CALIFORNIA

ORANGE CO UNTY

SOURCE: U.S. BUREAU OF LABOR STATISTICS : MONTHLY DATA THROUGH JANUARY

U.S. AUTOMOBILE SALES BY MONTH

# OF AUTOMOBILES SOLD (MILLIONS)

(DECEMBER 2020 – DECEMBER 2021 vs. PRIOR YEAR) 2 1.5

1.5

1.5 1.1

0.9

1.3 1.2

1.3 1.1

1.4 1.0

1.5

1.3 1.0

1.0

1.2

0.5

1.3

1.2

1.0 0.5

0.5

0 MAR

APR

MAY

JUN

JUL

AUG 2022

SEP 2021

OCT

NOV

2020

DEC

JAN

FEB