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1,100 listings would be impacted by designated for shorter stays, but it could be as high as 100%. STR Listings by Minimum Stay in Santa Ana 0.00/0 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% ■30+ Nights ■7-29 Nights ■4-6 Nights 3 Nights ■2 Nights ■1 Night Source: https://www.airdna.co/vacation-rental-data/app/us/california/santa-ana/overview With STRs accommodating a significant portion of the lodging market, their removal would leave a considerable gap in available accommodations, which the existing hotel infrastructure is unlikely to be able to fully absorb given Orange County's occupancy rates were already at 77% in September 2024 (California Travel Forecast - October 2024). Effects of a Ban on STR on Local Hotel Demand, Room Rates, and Availability Eliminating STRs is likely to intensify demand for hotel accommodations, which would reduce availability and drive up average daily rates (ADR). Orange County's ADR is already high, at $209.14 (see table below) (192$ in Santa Ana9), and Santa Ana's hotel market is part of this broader region where occupancy and room rates reflect high demand, particularly near attractions. With STRs contributing substantial capacity, the ban would further stress local hotels, as noted above likely leading to increased ADR due to scarcity. The 7.1% year-on-year increase in Revenue Per Available Room (RevPAR) in Orange County indicates a strong market with limited room for new capacity; hence, shifting demand from STRs to hotels would almost certainly lead to higher room rates, potentially pushing them beyond the reach of budget-conscious travelers. Short Term Rentals Year to Date-September 2024 vs September 2023 occ % ADR RevPAR 2024 2023 2024 2023 2024 2023 California 68.0 68.4 190.57 192.15 129.60 131.41 Orange County 72.1 72.0 209.14 210.91 150.74 151.91 9 https://rabbu.com/airbnb-data/santa-ana-ca * httr)s://www.airdna.co/vacation-rental-data/app/us/california/santa-ana/overview 4/5