everyone. we've Steve, as as integration strong well of the vacation segment, in from without and in ended our businesses. quarter, offers. as you, EBITDA the the as good XXXX driven continued benefits transformation make our progress to increased ownership Adjusted well fourth morning am growth I two too on very by XX% pleased Thank synergy and the
expanded reportability margin XXX $XXX and adjusted contract development charges our year for first EBITDA revenue adjusted Looking sales which over Consolidated our segment, at to increased and quarter points. adjust Ownership increased of basis growth other best by sales XX% margin, and increased the million XX%, Vacation XX%.
revenue, Our by higher XX% impact the and excluding margin spend. net of increased percentage inventory sold XX.X%, a of XX%. interest In revenues increased basis of XXX financing marketing expenses accounting financing business, in more expense purchase of points percentage lower after $XX being sales development increased efficient million, cost financing driven to adjusted our and to adjustments, consumer
This propensity. us the growth strong sales quarter financed balance outstanding debt on due primarily securitizations. contract to in lower financing reflects our buyers rates XXX. with remained score increased by FICO Consumer financing higher higher The partially offset interest expense strong well as the at average as who a interest
our that We slightly higher to used have underwriting originated and sales seen standards in portfolio, were loans mostly by ILG. under attributable defaults
prior to ramped marketing we qualifications efficient for our or buyers. FICO no sales for potential or As drive little channels, and or XXX payment income up have scores requirements down ILG with OPC order acquisition, buyers reduced discussed with previously, sub in less off-premise to
to as these In or a to revenues with million and We rental improved XX% revenues overtime practices align decreased with net improve better have $X to these expect changes. business, our MVW, of increased $XXX expenses substantially rental million. of and those result, we eliminated legacy
higher exchange revenues offset X%, after our of higher costs inventory fees of net driven revenues by XX%. well resort company as portfolio and plus activity point as by services resorts. our higher was management Vistana. and expenses growth rented, revenues This reflects and increased transient other increased increases keys This business, managing In higher while in for ancillary
Turning to exclude Europe. after of Third-Party the Exchange to down the VRI the & adjusting year-over-year sale prior was year $X million segment, EBITDA adjusted
contracts due to of As previously, certain majority decline corporate the primarily last non-renewal year. we've year-over-year the was discussed
exchange quarter. the during Our affiliations added exchange across the network business new
this We our outside as products we for also clients continue streams to to the timeshare work add to industry identify use revenue segment. incremental
$XX the XXXX synergies fourth Steve continues of quarter. go As synergies in including the well additional integration of realized million we've to ILG mentioned, in in $XX million and
on track to expect $million XXXX, savings the at to least run $XX an rate XXXX. $XX We of in synergies end in-the-year remain achieve million by of million of deliver and additional to $XXX
under had equivalence million Moving $XXX roughly our $XXX and available facility. to cash we ended year $XXX million the in balance the capacity with and credit million sheet, cash of revolving
associated at notes This excludes the billion receivable. total was with non-recourse outstanding Our billion. of $X.X X.X debt corporate the our end securitized quarter
end $XXX million quarter facility longer perspective From X.X the adjusted a target increasing ratio total our to to was million. EBITDA to times debt its and synergy warehouse with savings, leverage our in including of of during X the line of replaced quarter times. $XXX the term capacity at our We X.X
In enable under us and capacity, enables Sheraton, addition to our new was the to loans, higher branded Westin facility old precluded Hyatt the facility. also the which monetize
XXXX. We also amended points, at our average brings to agreement, million credit existing annually. $X corporate term saving reducing of approximately by debt than This rate basis our interest end us loan our more cost the weighted XX the of X.X%
million the per generated returns bringing average at cash of Regarding flow in XXXX for XXX capital million repurchased of dividends for capital total to $XXX our $XXX and $X.XX fourth million. including million free X.X adjusted we $XXX our XXXX. We of price in share, an quarter, return shares
of we optimize $XX estimate As majority we total our year. quarter. securitization which Colorado, of million manage than more as sale benefited in and to of the as Asia-Pacific last our the spending continue investments, cash well excess closed development notes million proceeds excludes generated which from XX million $XX in of in the to by fourth we roughly from Cancun we This both parcels generated flow from and region the free
to while strong and business. our sales our were summary, contract also fourth In continuing growing results quarter transform with XX% integrate
we and the particularly implemented to have generate, technology we processes. changes We improved already results and about beginning the excited are are around
let's turn XXXX Now our to guidance.
higher improvement contract in and growth mentioned, to As sales of targeting tours XX% coming X% VPG. are we Steve of growth a continued with from combination
these adjusted marketing product our to fixed and ability expect higher While sales remain continued to volumes XXXX. cost margin strong costs, low we leverage and development our in
all in be vacation primary would our improvements driver benefit sales business. ownership contract of the parts vacation to while from segment, And in expect growth ownership the we of
exchange to is party per revenue have the at higher stable. members projected projected further than third businesses. and levels, and Average For these opportunities segment, inflationary transform we management are to active relatively remain to increase slightly member
focusing exchange continues these and business, revenue adding on strategy our to to average term, new beyond and to members, businesses course Longer diversifying increasing for of per include resorts the expanding properties identifying benefits traditional member, exchange the and network.
projecting or midpoint of million we XXXX the XX% EBITDA, guidance. growth For are $XXX adjusted at $XXX million our to in
nearly our remainder estimate come thirds the We that of incremental two will from savings. growth coming from the core businesses synergy with
run by rates, XXXX. million We savings least by to at savings and rate synergy we $XX of of run are the approach progress towards of our goal targeting end synergy the million as $XXX of end XXXX
given first not typically by sales. provide and remember are it's in do revenue we quarterly While quarters to second guidance, that negatively our important impacted reportability, normal unfavorable growth the
year. in results quarter amount first expect this were would our $XX I reminder, similar a and the XXXX million impacted unfavorably As by
only the of reported being we this most the get deferral fourth as timing Again, as recovered the through year go will in with is the quarter. revenue
the it the affect ramping EBITDA does resulting growth cadence progress up is as adjusted our However, throughout we year. of
adjusted our per fully midpoint expect at diluted nearly to We of of increase repurchase range, this effect share before activity. earnings XX% factoring year's share in the any the
development for million targeting our benefits projected and Third-Party coupled attractive we cash are businesses. flow model our profile between these & financial of of $XXX the Exchange XXXX, with $XXX million Lastly, continued the adjusted flow free results, cash with highlighting of capital-efficient
that, free may non-strategic as first achieve include long-term not should and during XX% during Day. we Investor of growth other this There's X% about, guidance also flow projection our note the we highlighted Investor capital assume more from to targets talked does cash Day. sales proceeds does generate look I we our we development spending normalized asset levels to our dispositions
acquisition. from also roughly the the to cash does include we synergies to achieve ILG year $XX million expect this further It to of invest not $XX million
in will to done we've our identify supports to As flow future cash while continue sales also spending ensuring generation, growth. enhance past, ways the we
X our times, target to capital in now X.X remains with allocation the pro strategy same. line adjusted-EBITDA, of With debt forma rate to longer-term our leverage our
We or to the of through best cash returning growing repurchases. flow cash our to to business free flow compelling use acquisitions invest shareholders use through free acquisitions, organically capital will strategic in the absence look in remains excess of dividends share and both
In summary, we expect we of another finished the Company. growth strong the and to year for strong XXXX be year
Marriott interest in always, appreciate As your we Worldwide. Vacations
up the for will that, And we Hector? open call Q&A. with
