Neal. and morning, earnings you our joining everyone, call. for third quarter Good Thanks, thank
out begin, by Carolina, who and our elsewhere thoughts we Milton. Before all and go North in the Florida Helene impacted people were to Hurricanes
our Fortunately, none associates had of all damage. resorts ownership are significant of vacation our and safe,
results our to for the quarter. Turning
and that increasing to of sales said, nearly As experiences regardless pressures, on XX% vacation, quarter, that focused economic occupancy quarter on why on evident environment, to also face compelling and resort economic series and go they always people was Recognizing running place continue brands. want for year-over-year. actions high our again incentives during we've the while the consumers driving this contract reach offered That's of sales our by introducing value first-time we expanding targeted took buyers. a revenue,
buyer VPG an in strategy, first-time we trends our adjusted August. example, For promotional in resulting our starting in improvement
affordable our customers our cruises even to more to expand such nontraditional to sales new up to of more more vacationing This tours continue tours potential leverage opportunities not we've owner. and make financing this first-time become buyer promotion a we this quarter, owner We XX% they're year from a us. and XX% as And it further. with roadshows represented to ago, reach had channels than virtual an when and launched
last the digits wildfires, year-over-year. VPG year, grow and the strategies, to first-time stability first-time double while tours the contract continued the recovery from our helped These prior increased X% in year's us buyer sales compared X% We business Maui grew underlying sequentially. buyer
buyer year-over-year system. XX% represented continue to first-time level since tours, our as highest increased owners to First-time sales the we and buyer roughly tours the of add to XXXX, total work new
in ago grew XXX,XXX sales VPG Owner nearly also year which compared up to start quarter X% gives from year improved. a with a preview to our packages and as year. tours a ended next pipeline, the increased We good us ago,
Waikiki strategy our expand our in in our early opening key Resort advanced to new markets, We presence XXX-unit October.
our as will to owners Our this experiences like Japanese for asking those continually are market America. Waikiki, North customers appeal as from well and new
among inventory We capital-efficient demand $XX the a million to for $XX resort been very for which in pay in has sales high, also the annual we'll our sales under structure, Enthusiasm years, within this new we expect the strong anticipated sales owners continue years. million And center few XXXX. over to matches to ramp. better see contract X and generate new
than Club Hyatt-branded to Resort Hyatt the vacation Vacation build will that contract will addition in Hyatt opens contributor new will a intend the largest world, a to center excited Ownership accompany resort Orlando be a to sales sales. first this and a the new and announce nice Hyatt ownership few it area. great when the be in is a to portfolio organic very we portfolio first in the decade the also Orlando our I'm years. market Orlando, to that Vacation timeshare it resort And addition in more the in
manage efficiently our build to projects, goal with is capital-efficient large our other this partner. with to cash a flow, As
In years, secure providing than drive past for all-inclusive our affiliated to already working even is our Interval hard additions with & more team resorts, over options is Interval business, to XXX Third-Party the XXXX now for transactions. Management few And more inventory International our Exchange with the usage members.
IT made the last progress good over our updating On the front, legacy few systems. we've years
While we our enable to critical do, steps to more still to have evolve us offerings. are these product
we've improvements. to been already transact our journey to consumer owners want, they made us way on our with also the a enabling substantial capabilities, We've digitize and
the online year, example, expected are from reservations few of up majority this ago. to booked For be a years substantially only
throughout able company, to of low-cost users our voice transaction an complete agent. our of who use XX% virtual interact to the with without their the expanded and also are assistance We've chatbot talking
transacting $X websites maintenance for over year, in seamless loan and our VO fee owners. billion making our every payments are And payments
organization. of transaction total, In efficiencies and we believe have nearly still via to XX% are we increase available digitally and the self-service booking this capabilities further, driving opportunities today, across substantial
advanced have of progress. to improve and through opportunities growth, good also line making unlock analytics top we're the power and to data We drive efficiency
data rates For using marketing our example, our propensity and buyer for improve advanced first-time we marketing direct channels offers. across continue analytics to our models to improve response
helping right right These models targeting buyer efficiently our enhance sales in are the customer channel. with more right the the first-time offer by
the owners the This enhancing owners example by the expanded. our on-site drives Another likelihood those purchasing. targeting team is by processes to model recently that with highest identifying of model sales owner propensity
developed inventory of rates We and Implementing model this better available expected and a incremental reduce burn at drive to robust the transactions. optimize have also use Interval. to is information forecast
This incorporate enable us owners and by of owner middle data important And we should of customer the our next with our to services. customers products step new is on better to personalized are now data platform year. an live rest service our VO other and enterprise Salesforce-enabled the for and
is digital and enabler, and common experience is top lines. is on focus the our on our capitalize reality of to that The with across the and we old, years and initiatives and businesses our Technology the to a enhancing tools pace infrastructure thread our need appeal brands. these XX growing all ensure bottom our customer key ability support the that of keep iconic most
past made we've progress do, X to over the work have good still we years. While
While the believe a behind months running within all are we XX headwinds the sooner. will our not resorts the our XX%, that have that fully team are is years, above Maui major of impacted after environment our sales us. dynamic, staffed, wildfires, and is open, if macroeconomic many our devastating confident business few there remains performance I'm occupancy recover appropriately of
the mid-single pressures to rates products points-based higher Similarly, navigate on average we've increases fee through we have maintenance the Despite low had past maintaining our our owners to kept years, expect expect digits X XXXX. that, same importantly, high for in rising while the only and more fees standards of us. to from increase inflation. for single are for products proud interest the maintenance these the digits And over to we
the by while Marriott Vacation implementation came navigated of program. pressures we our Abound These
in growth. points Club discussed ease continued XX our around the owners now the choice, use expanded easily to our we've can more critical which And now As past, and system behind importantly, and Sheraton their providing for of sales us. is resorts, of is than contract implementation booking move Vacation Marriott, Westin more
a that despite we have with solid challenges, business navigated and remain profitable a a to a couple and important these we uneven foundation of future. resilient also As remember it's years, bright
in vacation of brands ownership We have the the business. collection best
flexibility. great at resonate accommodations Our tourist top with consumer, today's destinations combining with products significant
demand, XX% EBITDA own our from create adjusted We roughly recurring high-margin our and revenue comes of contribution streams.
year tell and owners our us regularly we loyal owners, rely have out vacations much us they survey memorable on highly We their and provide timeshares. year they how for in their satisfied who to families. love And and
new why XX,XXX reasons XXXX. points satisfaction are We've this the and since year-to-date why than [indiscernible]. XX% the owners of nearly And than from existing despite today were year XX,XXX last they our XX% sales on owners scores in more have come nearly XXXX, one of buyers That's our of added and year first-time will guest based additional buy of history, start within the over pandemic. and these higher
with technology insights simplify and the investments with ahead. We and positioned leverage and Orlando, Thailand guest Bali. Charleston, talent making to to consumer benefits in properties Savannah, are new resorts the well we the in are and personalize in realize And coming experience, the we're years adding
significant efficiencies evolve one by our we by of To to directly and accelerate recently created believe leaders led opportunities have operating operations me. growth initiatives, modernize accelerate our business. report our Looking continuing drive who and I these the office to business additional we senior forward, strategic to
an addition to believe incremental over which drive million cost We annual can achieved. we have savings the in of is million already X we $XXX next efficiencies existing $XX years, to
reinvest further business the in our growth products and of revenue We to platforms, expect by these accelerate savings enhancing services. some customer, to
organization, you owners' and look maintenance next We savings with our that more earnings also touch will will expect effort the additional generate all to This details forward parts fees. benefit of our to I call. on sharing
more results over I'll turn that, With in detail. our to to it Jason discuss
