NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD: DECEMBER 9, 2020

DECEMBER 9, 2020 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

(NOVEMBER 29 – DECEMBER 5, 2020)

OPEN HOTELS (ONLY OPEN HOTELS)

26.3%

(OCTOBER 2020)

7.5%

(NOVEMBER 29 – DECEMBER 5, 2020)

(OCTOBER 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE

ORANGE COUNTY MONTHLY # OF HOSPITALITY & TOURISM EMPLOYEES % CHANGE

ALL HOTELS (OPEN & CLOSED HOTELS)

20.5%

-24.6%

(NOVEMBER 29 – DECEMBER 5, 2020)

NEWPORT BEACH HOTELS WEEKLY OCCUPANCY RATE % CHANGE OPEN HOTELS

-60.3%

NEWPORT BEACH HOTELS WEEKLY AVERAGE RATE

$302.17

(NOVEMBER 29 – DECEMBER 5, 2020)

# OF HOTEL ROOMS OPEN FOR BOOKING:

FASHION ISLAND HOTEL

NEWPORT BEACH REAL ESTATE (OCTOBER 2020)

(NOVEMBER 29 – DECEMBER 5) 2020 vs. 2019

CLOSED HOTELS: RENAISSANCE HOTEL NEWPORT BEACH

(OCTOBER 2020 vs. OCTOBER 2019)

2,612

# OF HOTEL ROOMS CLOSED:

739

U.S. AUTOMOBILE SALES (OCTOBER 2020 vs. 2019)

# OF AUTOMOBILES SOLD YOY % CHANGE

-64%

(OCTOBER 2020 vs. OCTOBER 2019)

JOHN WAYNE AIRPORT (SNA) (OCTOBER 2020)

NEWPORT BEACH REAL ESTATE MONTHLY # OF LISTINGS % CHANGE

-28.0%

(OCTOBER 2020 vs. OCTOBER 2019)

U.S. VISA SPENDING IN NEWPORT BEACH (3RD QUARTER 2020 VS. 2019)

DOMESTIC U.S. CREDIT CARD SPENDING IN NEWPORT BEACH

-15.6%

(3RD QUARTER 2020 VS. 2019)

CALIFORNIA & LA RESTAURANTS (WEEK OF DECEMBER 2-8, 2020) YOY % CHANGE IN # OF DINERS CALIFORNIA LOS ANGELES

-71.7%

-98.8%

(WEEK OF DECEMBER 2-8) 2020 vs. 2019

ORANGE COUNTY/ JOHN WAYNE AIRPORT MONTHLY # OF PASSENGERS YOY % CHANGE

% OF RESTAURANTS OPEN CALIFORNIA LOS ANGELES

(OCTOBER 2020 vs. OCTOBER 2019)

(WEEK OF DECEMBER 2-8, 2020)

-65.7%

48%

0%

DECEMBER 9, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

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

(2020 vs. 2019)

83.4%

90

84.8%

79.2%

77.3%

80

82.9%

80.4%

75.5%

THANKSGIVING WEEKEND

72.3%

69.8%

66.2 %

63.0%

70 60

50.0%

50 40

42.5%

30

42.3%

45.1%

42.9%

41.8%

45.0%

41.1%

26.3%

20 19-SEP

26-SEP

3-OCT

10-OCT

17-OCT

24-OCT

31-OCT

THIS YEAR

34.5%

36.5%

33.7%

34.8%

7-NOV

14-NOV

21-NOV

28-NOV

5-DEC

LAST YEAR

NEWPORT BEACH HOTELS DAILY OCCUPANCY RATE BY WEEK (WEEKS OF NOVEMBER 8 – DECEMBER 5, 2020)

DAILY OCCUPANCY RATE (%)

80.0% 70.0% 60.0%

51.8%

50.0% 40.0% 30.0%

46.5%

45.8%

39.8% 32.7% 31.4% 27.4% 30.2% 28.1%

31.7% 35.1% 34.2% 28.8% 28.3%

43.7% 39.2% 38.7%

30.5% 29.4% 32.8% 28.8%

20.0%

36.7% 32.8% 28.1% 22.5% 21.1% 19.9% 22.9%

10.0% 0.0%

NOVEMBER 8-14, 2020

NOVEMBER 15-21, 2020 SUN

MON

TUE

NOVEMBER 22-28, 2020

WED

THU

FRI

NOV 29 - DEC 5, 2020

SAT

NEWPORT BEACH HOTELS COMPETITIVE SET OF CITIES

$248 M O N IC A

IN G S PA LM

YL Y EV ER

SP R

H IL L

A RA B

OCCUPANCY RATE (%)

$85

SA N TA

$161

A N A H EI M

$453 S

$281

BA R

E VI N IR

PO IN T D A N A

D IE G O

SOURCE: DECEMBER 9, 2020, STR.COM

$201

B

$113

AVERAGE DAILY RATE ($)

45% 29%

A

$356

44%

SA N TA

$125

SA N

H U N TI N G TO N

BE A C H T PO R N EW

$192

48%

43%

…

$302

49%

46%

30%

64%

JO LL

45%

55%

LA

$500 $400 $300 $200 $100 $0

OCCUPANCY RATE (%)

MONTHLY AVERAGE DAILY RATE ($)

(MONTHLY AVERAGE DAILY RATE & OCCUPANCY RATE FOR OCTOBER 2020)

80% 60% 40% 20% 0%

DECEMBER 9, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

HOTEL PERFORMANCE

NEWPORT BEACH HOTELS ROOMS AVAILABLE FOR BOOKING (ROOMS SUPPLY)

% CHANGE ROOMS AVAILABLE

(PERCENT CHANGE 2020 vs. 2019)

0.0% -5.0% -10.0% -15.0% -20.0% -25.0%

SEP 20-26

SEP 27OCT 3

-22.1%

-22.1%

OCT 4-10 OCT 11-17 OCT 25-31

-22.1%

-22.1%

NOV 1-7

-22.1%

NOV 8-14 NOV 15-21 NOV 22-28

-22.1%

-22.1%

-22.1%

-22.1%

NOV 29 DEC 5

-22.1%

NEWPORT BEACH HOTELS AVERAGE WEEKLY RATE (WEEKS OF SEPTEMBER 19 – DECEMBER 5, 2020)

THANKSGIVING WEEKEND

$360 AVERAGE WEEKLY RATE ($)

$340

$318

$320 $300

$290

$288

$254

$255

$303

$301

$326 $305 $282

$293

$312

$302 $283

$280 $260 $240

$272 $255

$255 $241

$220

$244

$239

$240

31-OCT

7-NOV

$200

19-SEP

26-SEP

3-OCT

10-OCT

17-OCT

24-OCT

THIS YEAR

$229

$224

14-NOV

21-NOV

$227 28-NOV

5-DEC

LAST YEAR

NEWPORT BEACH HOTELS AVERAGE DAILY HOTEL RATE (NOVEMBER 8 – DECEMBER 5, 2020)

$400

$351 $337 $348 $337 $331 $336 $318 $304 $295 $306 $322 $298 $307 $300 $294 $300 $290 $306 $286 $305 $284 $300 $283 $275 $272 $266$273 $260 $250 $195 $200

AVERAGE DAILY RATE ($)

$350

$150 $100 $50

11 /8 /2 11 0 /9 / 11 20 /1 0/ 11 20 /1 1/ 11 20 /1 2/ 11 20 /1 3/ 11 20 /1 4/ 11 20 /1 5/ 11 20 /1 6/ 11 20 /1 7/ 11 20 /1 8/ 11 20 /1 9 11 /20 /2 0/ 11 20 /2 1 11 /20 /2 2 11 /20 /2 3 11 /20 /2 4 11 /20 /2 5 11 /20 /2 6 11 /20 /2 7 11 /20 /2 8 11 /20 /2 9 11 /20 /3 0/ 2 12 0 /1 / 12 20 /2 / 12 20 /3 / 12 20 /4 / 12 20 /5 /2 0

$0

SOURCE: DECEMBER 9, 2020, STR.COM

DECEMBER 9, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

RESTAURANT & AIRPORT METRICS CALIFORNIA & LA DAILY SEATED DINERS FROM ONLINE, PHONE OR WALK-IN

% CHANGE IN WEEKLY SEATED DINERS

0

14-SEP 16-SEP 18-SEP 20-SEP 22-SEP 24-SEP 26-SEP 28-SEP 30-SEP 2-OCT 4-OCT 6-OCT 8-OCT 10-OCT 12-OCT 14-OCT 16-OCT 18-OCT 20-OCT 22-OCT 24-OCT 26-OCT 28-OCT 30-OCT 1-NOV 3-NOV 5-NOV 7-NOV 9-NOV 11-NOV 13-NOV 15-NOV 17-NOV 19-NOV 21-NOV 23-NOV 25-NOV 27-NOV 29-NOV 1-DEC 3-DEC 5-DEC 7-DEC

(YEAR OVER YEAR PERCENT CHANGE 2020 vs. 2019)

-10 -20 -30 -40 -50 -60 -70 -80 -90 -100 CALIFORNIA RESTAURANTS

# OF MONTHLY AIRPORT PASSENGERS (% CHANGE 2020 vs. 2019) 0%

80%

68% 69% 68% 67% 67% 69% 69%67% 70% 64% 60% 62% 61%

60%

50% 40%

59%

47% 48% 46% 48%48% 47% 44% 45% 42%43% 39%38%

48%

30% 20%

# OF MONTHLY PASSENGERS (YOY % CHANGE)

PERCENT (%) OF RESTAURANTS OPEN FOR RESERVATIONS PER WEEK

% OF CALIFORNIA & LA RESTAURANTS OPEN FOR RESERVATIONS BY WEEK

LOS ANGELES RESTAURANTS

-20% -40% -55% -66% -68% -72% -75%

-60% -63% -80% -100%

-80% -91% -97%

10% 0% 0% 10/14 10/28 11/11 11/25 9/16 9/30 12/2 11/4 11/18 10/7 10/21 9/12 9/23 CALIFORNIA LOS ANGELES

-120% JOHN WAYNE AIRPORT

0% 9/2

SOURCE: OPENTABLE AND SNA/JWA, LAX & LGB AIRPORTS

-54%

-71% -75% -79% -81% -81% -82% -87% -87% -87% -92% -92% -96% -96% -98%

MAR

APR

MAY

LAX JUNE

JULY

LONG BEACH AIRPORT AUG

SEP

OCT

DECEMBER 9, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD CREDIT CARD SPENDING IN NEWPORT BEACH INT’L VISA CREDIT CARD SPENDING IN NEWPORT BEACH

U.S. VISA CREDIT CARD SPENDING IN NEWPORT BEACH

(2020 vs. 2019)

(2020 vs. 2019)

$20,000,000 $18,000,000 $16,000,000 $13,809,783

(2ND QUARTER 2020 vs. 2019)

$350,000,000

$340,002,302

$300,000,000

$294,119,639

$325,722,868

$17,811,034

$3.5 $3.0 $2.5

$250,000,000

$2.0

$12,000,000

$200,000,000

$1.5

$10,000,000

$150,000,000

$8,000,000 $6,000,000 $4,000,000

$4.0

$2,768,760

$3,329,834

$1.0

$142,280,805

$0.5 $0.0

$100,000,000 $50,000,000

R

$2,000,000

L ES OD TA GI N H UR G EA A N D LT T EP H S C AR A A TM P RE FO EN P A O T S RE D L Q & TOR U G IC E R K ET RO S -S A CE ER IL R Y VI G A O U C TO OD E R M S ES TA OTI EL UR VE EC AN TR TS O N IC S

$14,000,000

INT’L VISA CREDIT CARD SPENDING IN NEWPORT BEACH BY CATEGORY

$0

$0

2ND QUARTER 2019

3RD QUARTER

2ND 3RD QUARTER QUARTER

2020

2019

20202

Q2 2019

Q2 2020

U.S. VISA CREDIT CARD SPENDING FROM EACH METRO AREA SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)

(2ND & 3RD QUARTERS 2020 vs. 2019) $15.0 $10.0 $5.0 $0.0

$9.8

$11.9 $9.0

$3.3 SAN FRANCISCO

$9.5 $10.5 $9.2 $4.1

SAN DIEGO

$8.5 $7.6 $5.7 $2.2

$5.0 $5.9 $5.1 $2.2

$7.2 $4.3 $1.5 $2.9

PHOENIX

LAS VEGAS

NEW YORK CITY

Q2 2019

Q2 2020

$3.4 $3.6 $0.9 $2.0

$2.7 $3.1 $0.7 $1.8

$2.6 $2.7 $0.8 $2.2

SEATTLE

DENVER

SACRAMENTO

Q3 2019

Q3 2020

EXCLUDES LA, RIVERSIDE & ORANGE COUNITES

INT’L VISA CREDIT CARD SPENDING FROM EACH COUNTRY SPENT IN NEWPORT BEACH SPENDING IN MILLIONS USD ($)

(2ND QUARTER 2020 vs. 2019) $5.0

$4.4

$4.0 $3.0 $2.0

$1.7

$1.0 $0.0

$2.2

$0.3 CHINA

CANADA

$0.8

$0.1

U.K.

$0.7

$0.0

SAUDI ARABIA

Q2 2019 SOURCE: VISAVUE, VISA INTERNATIONAL

$0.5

$0.0

UNITED ARAB EMIRATES

Q2 2020

$0.5

$0.1

JAPAN

$0.4

$0.0

SOUTH K OREA

$0.4

$0.0

AUSTRALIA

DECEMBER 9, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

REAL ESTATE METRICS

NEWPORT BEACH TOTAL NUMBER OF ACTIVE REAL ESTATE LISTINGS (YEAR-OVER-YEAR PERCENT CHANGE 2020 vs. 2019)

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

0.0% YOY % CHANGE IN ACTIVE LISTINGS

-5.0% -10.0%

-4.0%

-5.6%

-15.0% -20.0%

-18.0%

-25.0%

-20.8% -25.3%

-30.0%

-26.9%

-28.0%

-30.7%

-35.0%

-22.9%

-24.1% -33.8%

-40.0%

NEWPORT BEACH REAL ESTATE LISTINGS AVERAGE NUMBER OF DAYS TO SELL (YEAR-OVER-YEAR PERCENT CHANGE 2020 vs. 2019)

YOY % CHANGE IN AVERAGE # OF DAYS TO SELL

JAN 80.0%

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

65.0%

60.0% 40.0%

38.5%

31.6%

11.8%

10.6%

20.0% 0.0%

-1.4%

-20.0%

-6.9%

-15.1%

-11.6% -23.9%

-40.0%

-27.5%

NEWPORT BEACH REAL ESTATE AVERAGE LIST PRICE

(YEAR-OVER-YEAR AVERAGE LIST PRICE 2020 vs. 2019) $4.5 AVERAGE LIST PRICE (IN MILLIONS $)

$4.0 $3.5

$3.6 $3.4

$3.0

$3.5 $3.2

$3.0 $2.9

$3.1 $2.8

$3.5 $3.5

$3.6

$3.6

$3.6

$3.6

$3.2

$3.1

$3.1

$4.1

$3.7 $3.7

$2.8

$3.2 $3.2

$2.5 $2.0 $1.5 $1.0 $0.5 $0.0

JAN

FEB

MARCH

APRIL

MAY

JUNE

2019 SOURCE: REAL ESTATE ADVERTISING SERVICE: MLS.COM

2020

JULY

AUG

SEPT

OCT

NOV

DEC

DECEMBER 9, 2020 WEEKLY REPORT

NEWPORT BEACH & COMPANY COVID-19 ECONOMIC RECOVERY DASHBOARD

UNEMPLOYMENT & AUTOMOBILE METRICS

2020 ORANGE COUNTY UNEMPLOYMENT RATE BY MONTH PERCENTAGE RATE (%)

(CALIFORNIA vs. ORANGE COUNTY)

20.0%

16.4% 16.4% 14.7% 14.9% 13.8% 13.6% 13.5% 12.4% 11.2% 9.5%

15.0% 10.0% 5.0%

11.1% 9.0% 9.3% 7.5%

5.5% 3.9% 3.7% 2.8%

3.9% 2.9%

0.0%

JAN

FEB

MAR

APR

MAY

CALIFORNIA

JUN

JUL

AUG

SEP

OCT

ORANGE COUNTY

2020 ORANGE COUNTY MONTHLY NUMBER OF LEISURE & HOSPITALITY EMPLOYEES PERCENT CHANGE (CALIFORNIA vs. ORANGE COUNTY)

YOY PERCENT CHANGE (%)

JAN 10.0%

FEB

1.7% 2.1%

MAR

APR

MAY

JUN

JULY

AUG

SEP

OCT

1.5%2.2%

0.0% -10.0%

-3.3%-4.7%

-20.0% -30.0%

-28.5% -29.8% -30.5% -29.3% -31.6% -30.8% -30.7% -32.4%

-40.0% -50.0%

-24.6% -25.4%

-46.4% -45.3% -47.1% -44.3% CALIFORNIA ORANGE COUNTY

SOURCE: U.S. BUREAU OF LABOR STATISTICS

U.S. AUTOMOBILE SALES BY MONTH # OF AUTOMOBILES SOLD (MILLIONS)

(2020 vs. 2019)

2.0 1.5

1.2 1.2

0.9

1.0

1.6

1.5

1.4 1.3

0.5

1.3

1.2

1.2

1.6

1.4

1.5 1.3

1.3

1.4

1.4

1.3

0.6

1.5

1.5

0.5

0.0 JAN

FEB

MAR

APR

MAY

JUN 2020

JUL

AUG

SEP

OCT

2019

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