am very progressing we Steve, you I how pleased the with are quarter through everyone. results morning year. Thank and and too our second good
included that comparable did supplemental This our additional XXXX information legacy to with earnings supplemental ILG we current our results last highlight results to presentation. how legacy release. XXXX As year MVW's finance second we be the results better quarter, combines financial in information includes business have quarter performed, to
excluding Total combined year-over-year basis. My quarter last disposed to our company results impact adjusted the on Europe, and comments of today XX% a VRI refer XX% after which the December. in grew of changes about EBITDA increased growth we and
the very growth with improvement of the excited synergy coming roughly results, these with businesses from our the are While we even balance two-thirds of are year-over-year savings. more from pleased core we coming and drivers with the
XX% $XXX due costs last more marketing adjusts and to segment, was reflecting both Adjusted ownership development second adjusted million. in point increased inventory $XXX contract reportability charges, quarter. to lines at and the to first percentage development coming year Looking $XX development and Adjusted growth million increased million second XX.X%, our to over in our efficient sales In increased basis XXX X% consolidated revenue spending. which year-over-year sales improvement of all margin XX% with lower from margin, business. the other quarter business, EBITDA vacation for
growing higher in increased In a million outstanding our business, average $XX of expense our the notes and financing balance These a revenue higher quarter interest debt from offset slightly receivable higher financing funds. million to increased partially balance reflect $X expenses XX% and expense, revenue, of net second X%. interest results to increased revenues due consumer primarily financing cost by or and
to in score remain lows was of increase transient the rental costs. $XXX and propensity at very well. our by delinquency receivable revenues, notes remains who to results XX% rate, rental an to Our business, while perform million In financed financing increased revenues us The of near FICO plus lower net driven inventory buyers portfolio expenses, with higher XXX, million. revenues in $XX were XX%. rates average These and historic and strong point increased continues quarter X%
net fees for $XX Francisco offset asset-light year At our managing increased resort arrangements San our higher higher X% business, million. partially of by last in year-over-year revenues other of X% expenses, Marco earned while managing fees portfolio Island. increased growth services to revenues, management This and and reflects resorts, for our inventory
The third-party management segment, adjusted the due up revenue year-over-year, after was certain million year-over-year was adjusting was Europe. year was to relatively non-renewal down quarter decline in Turning year-over-year last of flat year. The to EBITDA to company X%. exchange member the expected VRI exclude the business and $X prior per average contracts in exchange core as
are to progress these we encouraged the mentioned, continue work businesses Steve and revenue to streams incremental new for about identify date. to As
well year-over-year G&A timing by other and offset synergy $XX million partially as inflationary savings increases. driven of normal declined spending, the as by primarily technology costs cost
generated of first $XX are great As as second the total savings, Steve million. we savings XXXX $XX over of the million progress. to our synergy it In relates for quarter, mentioned, bringing half we making synergies, to
for target to the of to achieved from previous in-the-year of the million well $XX savings $XX increasing have estimate. what the year, With for to $XX we our as savings remainder our up date, million are XXXX roughly we as million, projected
end balance the cash at the million. the totaled $XXX cash of to quarter, equivalents sheet, Moving and
eligible $XXX vacation for approximately gross had under had revolving credit Further, in We of receivable, notes roughly also million million securitization. million our ownership $XXX available we capacity $XXX facility.
and outstanding This end were receivable. excludes with $X.X associated times, X.X quarter X slightly the was to billion. the debt total companies totaled higher ratio the at perspective, X.X our of corporate quarter our notes a the for securitized combined billion leverage the last our non-recourse total assuming $X.X the Our at From times. four to $XXX savings, target of including EBITDA synergy million than combined of adjusted debt of quarters longer-term end
During and that securitization of favorable advance the as we note very completed securitization at for the successfully a as the blended we've the a rate. $XXX of Sheraton included the paper a with Marriott, This completed Westin XX% million quarter, our demand and first the rate and pleased well high terms brands we are X.X% securitization. is
of for and of we also second repurchased than an nearly million return for to additional quarter, we an million, to the of at our quarter, Subsequent share repurchased our average bringing million. XXX,XXX the price paid $XXX million capital we year-to-date dividends shares X.X million. capital $XX.XX Regarding more $XXX $XX returns per the in $XX end second shares total of
a to want on Before for I turn year, our I provide an items. update to outlook few the
First, of the as our best comprehensive I undertaking vacation determine last that a you mentioned the assets were review strategic for to ownership business. may we recall, direction quarter,
the do to over few we While continues, work to flows impact years. expect next incremental the generate quantify cash
details further X. around Day our provide review part October the of as will We on of results this Investor
with business million hurricanes. it another in we associated second the As quarter relates insurance to received proceeds, interruption the XXXX $X.X
the related and work St. Westin XXXX to outstanding next we insurance expect which the the of with finalize claims claim related months. the our property, to the continue John as our providers hurricanes several for largest is minor to as well over to the For majority claims storms, XXXX
our business damage as our property both includes experienced both associations. by as and interruption owners’ the This losses well us
free we losses. business good receipt a While do portion adjusted not proceeds reflect this interruption flow the year, for cash and expect any guidance receive insurance the of of proceeds our to our EBITDA adjusted
We update these progress. you will to continue as efforts
the outlook Now, let's the for to turn year.
growth Steve of continuing sales to last the X% year, sales as As we EBITDA year, adjusted but we X% ramps as XX% San With sales with we to we grow contract are center savings year. December. line soft our we million improve growth and expect new this guidance, in reflecting hurricanes revised through impact the up year-over-year mentioned, this and materialize growth, roughly contract this expect $XXX to Francisco lap sales our million incremental also of to or full-year projecting $XXX year's synergy top progress to year-over-year
For from all segment, are ownership projecting continued business. our lines vacation we growth of
ILG We the of in year, development to year. higher experienced time, the strong projecting growth XX% to resulting unfavorable from XX% expected benefit half expect and legacy our both VPG from the as tours XX%. margin as margin development brands are sales well first revenue we development margin, between full year second At we be in of and of reported the XX% this turnaround the and and a half coming for of continued between legacy a of MVW combination from is reportability from that our growth
benefit relatively to volumes on securitized cost from sales interest the to Financing as continue is low well higher a as debt. expected
that our in what year. of year expect the in half the line the first for experienced growth results we will financing half in of be second the We with
be We Rentals transient with second that are continue planning deal later year of as the well to well is will in favorable. growth higher the perform point as expectation the this rate expected plus [indiscernible] to terms revenues. execute to with higher continued term securitization a
is results to management our and and of activity higher the from grow fees, benefit initiatives. company from Resort management exchange G&A ancillary the expected of synergy savings from some continue is expected acceleration to to
members half third-party membership expand the compared relatively higher for to programs to being than year. projected are the exchange revenue For management of remain stable Average first the enhanced results exchange increase benefits. the member active to is company as per at in segment, slightly projected implemented of or inflation
than are free XXXX, adjusted the cash range. for now higher more between using guidance midpoint we the our $XX Lastly, million than $XXX previous $XXX flow of million and of targeting million
continues continue in sales while ensuring future generation, we done growth. past, our ways to enhance to the we've As identify spending will flow cash to our support
started the with a solid year We half. first
that our Our and and move changes are we updating continued look implemented beginning integration forward of have business to the they around particularly you already the generate, results we the progress technology throughout the been processes. on to continues about I are year. excited and as
As interest always, Marriott in Vacations we appreciate your Worldwide.
we with the will that, And, Q&A. open call for up Rob?
