quarter morning, we good third and you, results progressing am our and this pleased Thank are I everyone. very how with Steve, year. too
to As combines comments Legacy-MVW's with that year-over-year to current comparable prior previous Legacy's the reported ILG's results. combined XXXX in to acquisition results year to we growth changes about we've information done be presentation. quarters, results and refer today included our financial have My our
to Hurricane impact in the third Before touch well to terms of as into our its the upon get I Dorian results, as for I year. wanted quarter full
release, we earnings million, to sales million the saw to As impact estimate on the $X full for contract adjusted EBITDA our you and be the in $X year. impact on be
impact the million quarter only in $X timing recognition. remaining quarter adjusted revenue. impact the was impact comes revenue would as million due been the QX, to when of contracts all to in EBITDA The have contract recognized $X of sales the those sales the third fourth While was
EBITDA our impact This segment Vacation as VRI quarter, grew primarily the synergies. and of flow-through well Ownership driven from excluding was the as strong increased XX%, For company third adjusted in growth the XX% Europe. performance the total
of results As our a negative a impact million not our revenue the which we do results impact for quarter. on recognition, $X this reminder, had adjust
Ownership on in increased EBITDA development quarter, with $XXX $XXX consolidated contract business, from Looking increased coming and the spend. to sales all million and third margin, prior growth our segment, Hurricane adjusts adjusted development a which million X.X% third sales lines reportability to XX% sales In revenue X% year charges, was impact X% excluding of our more for year-over-year marketing and nearly efficient would result to than contract one Dorian, as nearly adjusted quarter Vacation first $XX business. have point the increased the in of XX.X%, other strong higher at million margin over Adjusted and percentage year-over-year. the quarter development of grown
financing expenses reflects revenue million financing In strong business, partially This higher financing our and million interest primarily cost. financing revenue, growth $XX by revenues propensity, net offset XX% increased higher and slightly XX%. from of operating increased sales increased and or expense, $XX contract consumer to
year-over-year higher rates. offset expense interest by Consumer interest financing lower debt as remained relatively a flat outstanding was balance
score the quarter to continues XXX. perform average The was well. receivable us notes of who Our financed FICO very portfolio in with buyers
and revenues were as keys the higher X% fees In plus Island. rental XX% company benefit arrangements ancillary our net driven business, and $XX increased offset for by million resort inventory of to increased expenses, services results higher growth partially to revenues revenues, Marco to costs. increased timing $XX asset of These rental the reflects rented, and X% expenses, to conversion partially million. in of year higher as resorts offset prior a portfolio while revenues transient higher In other light well exchange net increases San and revenues, management managing and $XXX in point the of rate related our our increased and Francisco business, million. activity, X% by of This by
Europe. after segment, Third-Party & the the last adjusting $X which sale nonrenewal was primarily decline was year-over-year year Exchange due the year-over-year to previously. to discussed the exclude VRI adjusted down to of prior we've million of EBITDA Management year, contracts The certain Turning
As increased year-over-year. the from exchange members and up X% Steve second average sequentially quarter member X% per was mentioned, revenue total
exchange as to offerings as Our affiliations we product the the well additional quarter segment. business streams during revenue across to exchange nonmember added for incremental as the network identify new continue new work
target to $XX our $XX million. of are perspective, increases. primarily related EBITDA of driven adjusted million compensation the We to offset by declined synergy roughly $XX third we maintaining the savings we normal inflationary savings to projected year-over-year, for savings generated at contribution year, in-the-year year-to-date to million expenses, $XX by lower partially what costs G&A our million synergies date savings bringing as have in achieved as for well With of a and $XX quarter the million. remainder From cost XXXX
Moving sheet, credit balance to the $XXX cash million, and available totaled under capacity equivalents cash facility. end of had at and million $XXX in the we our the roughly quarter, revolving million $XXX
$X.X debt This end billion our notes outstanding the total nonrecourse billion. of at corporate Our quarter associated receivable. the excludes with totaled securitized $X.X
million adjusted EBITDA to From X.X a higher leverage savings, our ratio at quarter X slightly of and X.X perspective synergy long-term the times, debt of $XXX was of target including than end combined our to total times. the
to end debt, million quarter, borrowings XXXX Regarding senior corporate and in of redeemed our under senior we at the due outstanding subsequent the our of our XXXX portion repaid issued a in $XXX our and notes third X.XXX% X.XX% revolver. of notes due corporate
interest note securitization third million the we XX% a of at of X.XX% rate Also, quarter, with rate. the end to successfully subsequent blended a $XXX a advance completed
few are high for we more terms demand even than pleased with of our completed transaction, ago. with the paper, but the only favorable months We securitization also were a which not the just very this
We complete our mentioned notes $XX generate into Investor year not that Asia-Pacific during working a later that approximately region. securitizing of additional well our our Day, existing program, to are on from primarily this transaction I As fit million and assets estimate securitization proceeds. we could also do it certain hope cash
would flow addition the As guidance our free be in to cash for proceeds year. a securitization from reminder, this
our for shares to return the of quarter, the third million. returns average share. an million Subsequent year-to-date XXX,XXX quarter, repurchased our to capital end $XXX $XX for in an Regarding bringing million shares additional per we price at $XXX of of we $XX.XX repurchased million the total capital X.X
represent quarter. As subsequent the third related $XX outstanding outstanding. St. John insurance business the previously and received of it Westin to interruption another the we to relates to claims, end proceeds our claim million These our largest property
We insurance resolve few with providers less a over on continue next our expect $X few to million. claims these remaining work than to months claims for the and
not adjusted reflect business cash for flow adjusted guidance proceeds our of receipt previously, does losses. our insurance the EBITDA for mentioned free we As and interruption any
for brands reflect impact midpoint. contract implying quarter our X%, the year. We've in guidance Now XX% updated of to at approximately let's for X% consolidated the the strong reopened their is, fourth to primarily expectation in December, outlook year year's the strong up. to Dorian, sales Westin to sales Vistana at turn our St. our to and growth San this sales our growth end to as our ramp for Hurricane John the Legacy-MVW in difficult the Embedded the to center lapped and continue last continue we new Francisco to brands center
development now reflecting We full lower the margin benefit to year of XX% expect roughly product be our cost.
we've year-to-date. expect to fourth reflect at implies to full to to positive most in $XXX $XXX impact We quarter, year the million of and negative experienced to midpoint the we $XX reportability be the of also recoup a guidance substantial updated the million the the We've years, hurricane. adjusted reportability full This expect of similar EBITDA to prior range. growth our million year XX% of
are flow spend we targeting continue free while Lastly, we grow and cash sure shareholders. business. $XXX to look to we enhance excess appropriately million XXXX adjusted the and million to to After that, flow continue free opportunities cash our between for $XXX for making to return to expect cash
growth synergy sequentially third transforming delivering We our for contract sales of and while were with business sales quarter integrating third growth quarter straight excluding Dorian. our summary, Hurricane In the had significant strong and savings. results X.X% increased
the are Marriott going they to to forward as I appreciate progress and on beginning we have updating been technology around look We our Vacations implemented are in And already and changes processes. particularly generate, results I the Worldwide. about excited you your always, interest forward.
we'll call the that, for open with And Q&A. Sachi? up
