everyone. Thanks to incredible us today. for XXXX an is off joining start. morning, Good
million in million the first quarter last company we delivered XX% revenue up For X compared total XX or year. QX to
results Our sales year last above with American Drive four remained quarter. golf core same solid business courses Shack renews delivering XX and
Charlotte, in our North Our two total exceeded and X.X in Puttery Carolina Texas located generating Colony, revenue. a venues expectations, the combined million
revenue EBITDA across expectations. sales at Adjusted the increase of for and is more the last X this was with strong million and future with than and to portfolio Golf. to American Total events our our we and quarter entire line experience QX continue in from strong private year, X walk-in $X year brand including events. event at Our venues and million has exceptionally million up social largely momentum for courses. was remains private corporate, our Demand coming X.X million event over normalized business in
come in QX. our it it golf in last given which course in quarter EBITDA While last of million QX courses five year, we X.X after below together first traditional year's contributed expected did was exited
We also in remain results, expenses related related investments expense and the throughout and of EBITDA year million XX investments to incremental year, these business. roughly in of and headcount our last to yet strategic realized made other of X QX was 'XX. development full that XXXX QX Puttery goal With that this our growth million our to be of for adjusted had on incurred we QX to Including in track year. deliver support
Golf a foundation business strong both venues Shack our courses. We core and Drive have with American
I our mentioned, normalized walk-in and accelerating. is As events demand business for has
our sales a margins addressable our ahead two with large entertainment of gaining slightly in and of the are plan their concept results of venues, market expectations. venue-based a business. proof delivering both clear ahead We Puttery generating profitability There's
are presents for the near-term growth. Puttery best the investing capital development new our path of forward Puttery venues We our towards as
locations in quarter. seven are which Chicago XXXX next to to end Penn plan open venue Washington in planned by with track We the open open Houston locations are month, the next to on our by Quarter third of followed DC's our
this more the any we across the decision is this economics this that We -- well to more tough are moments Puttery speak are XX with discussion in aggressively venue on builds are to into in of pursuing required to and project are landlords for I'll new made compelling. a in few any Drive active the the XXXX future suspend currently The few capital development future of we've million country. returns spend leases Shack New a openings to sites further complete redirecting moments. in where Orleans for capital our location. and incremental in and multiple excess With speak investment project
over time currently are visitors this the our venue pursuing EBITDA this Manhattan. the continue costs impairment Orleans more we site to we charge we took XX.X in decision, venue for island for which any have New to QX share. of well and with sales each developing believe We our island an current you fixed and Shaft and incurred-to-date the Shack Drive Randall's venues We alternatives margins this deliver above plan in to With X will totaled it's building when million on million. year. we Drive At will assets, update for the
company the new to of are to brief again a the our of six included turning on deck, deck So you story. who our we've Page those history on for
four Over transformation the Drive company. Shack significant years, business entertainment has Inc undergone plus traditional a golf to past from a operating an
XX%. the took entertainment months Dallas venues Shack XXXX. Shack indoor operate opened course in last followed growth our X.X of mid-December During that of the their Palm of from our location of significantly of mainly and and generation today. year owned development in September into golf beating four outside August, entertainment Beach. and we outperforming initial experience. number our venues XXXX colony that in this them Drive our which developed first in West since opened around time, and of with venues year, golf These strong, the in Puttery our is our by opened October immersive XXXX the a XXXX, we April three opened We've learnings the portfolio managed Orlando Drive by opening in experience three and plans new our just courses, we pudding sold expectations majority converted Puttery, fund We of Orlando specifically Raleigh, to first We venue technology Richmond in of business a September three an and later Charlotte
meeting venues to underway by a open total the XX are to XXXX. of of goal We end our Puttery
view our timeline summary for now courses and and a of Turning to venues. seven Page
we Manhattan across Puttery XXXX. Carolina. side two Houston, of Philadelphia, end additional golf at lease open the and in we've XX X these currently On Island, Drive QX to committed to City. additional we currently Palm four expect we which venues Randall’s in seven eight business, Pittsburgh Kansas the Raleigh, of and states owned, Miami, late year their with on Behind nine American North in located managed have in courses and one With with XX leased Golf DC, Texas Chicago, operate open Charlotte, and to West the we these Richmond in venues of this to Shack planned Colony, and our committed XX leases are courses helped business, Orlando, entertainment with
the District expected open in is early located Meatpacking venue Manhattan to XXXX. Our in
XXXX We are future beyond. U.S. in several aggressively robust markets Puttery of have a pipeline the openings locations in across for and we pursuing
We with on timeline moments. in sites a are and landlords few country. currently active discussions the speak I'll multiple plans development across more our in to
operations Moving on the of business. now update our an to
Let's start brand Puttery nine. Page we on again, newest Puttery Today venues with our open. have two
performing the line market half Colony of a with in months menu Puttery ahead eight months. most open relatively venues our urban been in over with now. and recent about been expectations. suburban. our first their Both little Even for are and differences slightly one in four one a And has another open has and Our one are for Charlotte
both For XX%. revenue EBITDA QX, total and generated they delivered $X venue of of margins each just over million
ago, path of we and put us proof to gaining month-over-month for even to the giving a brand venue, analyze continue date concept each years these growth. trends are clear a while forward venue over performance two two best We that fully Puttery forward supports we our Puttery near-term confidence in today the or more is venues for in economics
it's and here, delivered With by business for a walk-in me We're With that weeks our total visit also also QX spend results of this difficult EBITDA as compare results F&B operating recap by which led more The the to last effectively leveraging margin colony. was by in Charlotte, only which while in two strong for Let a variable total provided expenses delivered in the X.X a more the now colony business. quarter Charlotte revenue we million they driven businesses XX% each X.X bit million led largely walk-in quickly XXXX. as per open driven a their the quarter. were revenue, higher stabilized to their venue. helped QX
two outside golf courses. nine-hole these venues. the nine-hole courses. revenue in a the you urban and As differences suburban is shows reminder, a four the more feet is bit two you'll XX,XXX market a between Colony That with square clearly. Dallas, a little breakdown between and XX, just in the to of the Page market of see a Charlotte square more mix When QX feet XX,XXX around turn with under
in visitors Colony XX% QX. had nearly walk-in For reference, the Charlotte during more
could handful forma guest similar number and per our generated a just SMB per each around of The alcohol, to provide with who concepts our liquor. a each. venues, numbers play. average so holding is generated at observe sales planned of the in remains gameplay, courses around much the revenue higher intentional than for different about their XX% and Colony. pro nine-hole across they Walk-in to both percentage each revenue square an venues response through the XX we the of Colony QX different venue. very that taking quarter course advance a Charlotte reservation venue differences guests We the beverage were while visit footage platform of higher courses. and our visit venues Alcohol through in of specifically F&B it of as same these million revenue in positive. each via we number the with of online earlier, and revenue in percentage of both size sizes over first mainly sales, X.X spend total this had across Even minutes XX% mentioned is trends of continue comprised I higher While their of the courses And generated at
We're are strong becoming success particularly future first Golf performance economics. clear venue-based we exception. of expect huge easy on best is returns passing will I with investment. level We experimenting our addressable pleased Puttery EBITDA the our venue our to venues projected from is two date, is a are of will optimize business each venue no level that concept our can't deliver at within with to and with experience mix fun activity. courses with that generating number and extremely similar is very say size results. Puttery proof the the our that of The entertainment each and venue month, results market. we positive know enough, that access a venues well greatest and this the And
our a inside Quarter. XX,XXX very courses three we're square with and DC fact, nine-hole historic venue, today which in soon with and Colony the foot doing Penn In Charlotte will have building that
and country we the have working today in We across that More are new potential the dozens the we sites in locations will few expect moments. in several with on of this finalize weeks. landlords pipeline on a coming
business now Page to on Moving XX. Drive Shack our
nearly by the higher sales, up increase XX continues X.X came from That's XXX% XX% while of our four saw to event in was just year. well. For our of was million strong million million increase, driven of total exceptionally all venues venues, we up last X.X quarter, Raleigh, And last nearly generated which year, of the perform QX dollar under across of to half QX event which revenue. versus demand the
Our guest a led to in to by and Raleigh. walk-in returned increase normalize revenue again last delivered year levels traffic largely is X%
X.X QX year year. of of loss behind. or Shack QX XX% Drive this of to led margin delivered Raleigh to QX broke West X the an QX EBITDA last in compared combined EBITDA in Orlando XXXk Palm million again or in EBITDA venues once group Our last year. with in million right of of even compared XX% a an margin
results While in contribution expectations. our our their delivered their with plan, venues revenue exceeded EBITDA line
controllable managing leveraging teams are returns to than better us expected give expenses job this a quarter. of doing Our fantastic costs and
the run at Our projections. Drive traditional their expect rate golf delivering And Shack demand for or increasing solid. for to business venues stable demand remains and The strong, them us. continue are above we with events,
which returns and business strong year-over-year. with very and a earnings have continues American to We generate Golf profitable stable
see to under Golf’s XX million, total excluding Page As quarter. up year's on was you'll X% XX. revenue first for management American fee QX revenue last just was and
in year, work exceptionally This revenue focused private XXXX% events last in to saw million part X.X this quarter driven our from primarily increase or a impressive for we increase came an from The across events an event year. demand X.X drove rates is all our million large which higher events of to doing team up courses. conversion strong the
last public year for and metrics. quarter exceptionally against year's high in still was an was performance, traditional below this golf when levels QX, demand near courses business activities. COVID indoor outdoor place our we're all year's private were strong the just across extremely walk-in last While restrictions our year, slightly And that given up last for
maintain continue all at of our to private clubs. We capacity XX%
With our courses here is to only golf the of golfers to momentum and alike. solid performance continue will game continue non-golfers to The at gain to live deliver. with stay and
Let's We we in venue-based for believe presentation an intend addressable locations states opportunity the openings. Puttery as a a When existing know future. development out venue our capitalizing at where plans. move well business on where for golf new we on market our Page as we development a look exists exists of the plans and visual entertainment now location, the Puttery maintain XX, you to we've to scale have on we this laid near-term large across country opportunity large entertainment focus and continue that as
includes hundreds Our strategy sites to the potential markets and new target choose. XX current today country across coverage over our well under of with
With profitability sites, the number and to new and vast of margin best we returns. size layouts are to the determine with courses different mix availability and venue of experimenting optimize potential
in the within have Both will a in and three. a a another less venue gaining venue courses. similar third a real and location. soon data Colony larger sales venue we Again, fewer ranges Colony will are deliver But DC which to concept proof we and and Charlotte expected from larger continue for course one the returns. market add venue with a a generating of the courses slightly to returns four our that with from but have We will we huge are data open clearly we're than with confident one margin smaller
provided opening overview Moving timeline. where of now our an XX, new to Page we venue
the and least currently venues Colony total Charlotte. two committed open We with in are XX Puttery to today
and additional to QX. third all Miami next are month, expect followed We quarter. City the an Houston open in in to Puttery open DC Pittsburgh, venues slated throughout Philadelphia, by Kansas new seven XXXX starting in Chicago currently and
Additionally, we in planned in district to Manhattan's open a XXXX. Puttery venue Meatpacking early
include of Manhattan. the including Puttery plans in new opening XX XXXX, venues Our
new beyond. are pursuing leases As and call, I today's throughout openings we said aggressively for in XXXX
have pipeline review. new sites identified We with number that on active are in discussions to a coming and an significant XXXX expect leases for the XXXX we sites plan these, will throughout active currently in expanding finalize operating landlords multiple Behind with executing we under openings We of weeks. in continue beyond. continually and
to clear as it the continue and will communicating to open be to number we when very transparent expect venues them. we when comes open possible to and of We as expect
openings and are strategy approach amount time remain the the We given thoughtful to market between appropriate builds and with our conditions. taking current of
and by the present. While on GC the supply presented still labor chain obstacles strain are
we and We're open is wherever attainable And realistic. on continue growth We planned our venue that XXXX confident forward the track. and company. best economics possible was are the to for timeline we the confident ago, of working ahead to that projected will several challenges that venues back seven path Puttery the to in development quarters very our remain put of at keep be level looking
are ability Drive as Puttery of construct to to those our venue less between business venue you and and to X X entertainment projections, and venue. months XX to venues. have months with venue and approximately generates XX million Again, in our and to big Shack X with in adjacency million to here to X the our where plan well and of generate million higher for our who build EBITDA But With the and to to economic XX an see a seen golf level For to to XX between build we and million each Puttery are capital Drive seen us quickly economics clear are Puttery Puttery each. taking level Compare providing outlines illustrated generating that current Shack million not expect that a Charlotte gives is page takes nine spend months here. ahead are venues unit physically million both each. venue and the venue ranges we real million million XX expect our spend can approximately six and complete gaining expectations. between risk X a result XX we of each to EBITDA returns within box two Drive results Shack venue as we're proof between which proof concept the we Colony grow
capital So you I'll to take and Kelley over strategy now to our turn results. financial through it