joining us. you, Good for thank morning, everyone, Matthew. you Thank and
to our and operating of We in results most markets. report season across of the adverse solid financial significantly of peak another unusual despite pleased quarter weather are impact our
to outstanding continued the strategy our the demonstrate our business, the our resilience third the effectiveness Our team. quarter of of results during and efforts of tireless
to pleased level in-park from particularly as record per efforts spending to quarter results a the are to our consecutive in-park we quarter. in capita and XXth grew during continue for strong offerings see the focus, We our investment
are the our and this into in continued We see to work XXXX. excited in of coming ongoing results the area quarters
Our as we adjusted EBITDA relentless continued basis deliver on the focus margin a cost management on quarter. to also for year-over-year improved
our XXXX. the to ambassadors the results previously We to and dedicated guests against I initiatives to into continue welcome parks busy summer the discussed and for are to coming see quarters thank want continuing efforts in their during serve efforts our these to expect our our execute cost season. of across
just events. another completed at successful our Halloween award-winning We our parks, Halloween featuring season
spending for per compared revenue year, to to and have well. We And calendar have one grown that resulted in after the capita prior would grown as we attendance adjusting are pleased shift October. in less Saturday estimate
and We are continue our they continued the with the to our events popularity strength Halloween proud of of build guests. that
event are Theme Today's events was SeaWorld receiving recognition Halloween as voted proud also We're these the by Readers' of Best best Park Awards. the Howl-O-Scream Choice XX USA
Gardens our we the at Parks Christmas of begin season, As and week. award-winning SeaWorld, our we this holiday enter most events later Busch will Sesame
holiday delicious unique all shopping and beverage Christmas for entertainment, food events live and ages. guests exciting feature and Our of offerings
groups XXXX we Discovery XXXX pleased trending the into are year for Cove to property. ahead revenue holiday both double-digit XXXX, percentage beyond of our and season prior bookings up Looking see
and increases expect a year. pass In addition, for sales in will base help launched program we pass ever, benefits we recently strong pass next our drive best which
expansion international strategic make related on activities. We and progress growth initiatives hotels, to to our our continue digital
investments exciting, this incremental quarters. initiatives sharing expect meaningful year on We made forward fully and into that these coming from parks to our to more in value-creating look coming We we also the investments benefit across have the XXXX. quarters in
quarter resilient park and have significant and quarter we and business have after in We and we across an We our our capacity significant have over still and and strong have long available portfolio. a trends the model, improve grow growing with guest profitability. operate that opportunities proven markets in revenue industry to term, demand we
in below XX recorded achieved Our guests attendance attendance our total high below levels levels still well million historical attendance of are the in XXXX, approximately we and XXXX.
investments and year, make make profitable generate We to have more and us improve this made business experience, our continue guest business. us we'll efficient a investments the to to allowing revenue significant in more and
attractive We will expect resilient for us investments profitable new in increases we expect year make that and stronger yield shareholder lead meaningful and returns, even next ultimately highly initiatives more more an business we value. planning to are these that to and will
at new lineup at with a Ness roller at Falls, and lineup the events the Antonio. SeaWorld and first This Trek, adventure experiential San Rising, of partial upgrades elements coaster launched Loch Sea, the among all-new San suspended Busch Experience, Penguin all-new Jellyfish for Jewels XXXX. recently of SeaWorld launch others, unforgettable includes, at flume Tampa family an thematic Busch Gardens immersive SeaWorld fully world's an Diego. restored our Gardens attractions, A coaster Monster Williamsburg. Phoenix aquarium We Orlando. rides, coaster coaster announced at Catapult Bay.
you strategic on me initiatives. some of progress update of the our let Now
for and The continues adjusted improvements of utilize better scheduling cost third more we the revenue. prior and our and exceeded EBITDA along to technology, efficiencies, First, year by and ways redundant progress opportunities, with these unnecessary which team work source efficiently, capital on to making efficiency us related continue drive to find and implement are to labor XX.X%, lower and/or the reduction despite cost margin expenses. evidenced good quarter as organize eliminate
increased margins will over We to these savings time. cost lead our expect and are confident with revenue along that initiatives, enhancements
it a capabilities, we the now and app point-of-sale compared year, and our experience. are more infancy average more The their app has million guests an than out Total Second, is build than increase been times, XXX% transaction are X.X roll orders. mobile improve revenue in X.X up to our used end the by still and value QX. now by pleased downloaded downloaded number transformation which the now the been for of the on -- front, the up being regards has app app In in-park parks to beverage app. digital made our continue in through their in mobile are of at app, CRM improve to and compared out to generated from on million increasing we to purchases we food seeing XX% prior is
target restaurants. operating ordering Mobile of XX% at is our approximately
about potential in ability and We guest the its are in improve of app in-park cost. to experience, drive the excited and decreases revenue increases
engagement refine capabilities experience. further capabilities additional optimize increase and to current continuing develop to and are We the
you and decreasing our goal improving through park parks Third, food guest and we generally and the and revenue costs park-specific the around offering, expanding, journey improving of retail year incremental aesthetics enhancing our beverage increased as know, infrastructure this and and/or strategically driving ROI experience and investments with our facilities. and
of planned, affected these some the which said quarter. in and caps in-park longer per refurbishments negatively we third last As upgrades quarter, took than
the of these benefit these investments. However, are venues are we now realizing open, and
further attractive expected in have enhance the We planned XXXX yield to and will guest that projects experience are ROI. additional
As speak have our we that be some of capital about to may confusion we investors, spend. there learned incremental some this
believe each is $XXX we across this allow to to need is opening core need growth CapEx and the parks amount and time. execute As X that example, into expansion/ROI rides amount spend spend CapEx. our year. attractions to CapEx our our rate we normalized million break to at to Core -- we core estimate strategy, annually. maintain $XXX average annual categories: CapEx amount million of ride attraction reminder, we spend business us a current CapEx a on and to over our is our The we to believe sufficient grow capital and to spending new of on approximately for we assets need We
EBITDA team CapEx capital projects time that believe have attractive will related confidence, generate XX% to normalized year, over on adjusted Board we on ROI us our in plus incremental cash Based Historically, allow to we high cash on approximately how million management $XX comprehensive that rates. the specific spending such a on I'm our Expansion/ROI We uses roughly each identify ROI the to ROI, challenged excess the cash discussions flow million we with have for of growth high-confidence list capital year typically increased based $XX our and spending. million we sorry, cash projects. on aligned is on think This CapEx spending, allocated to is people clarifies we will year spending additional grow enterprise. in hope type Board, Based of returns. of $XX about excess of projects an -- present years, this to our flow. across high and this recent confidence this capital generation this
Abu continues to exceed Fourth, on the Dhabi expectations. attendance front, international at SeaWorld original
to progress opportunities coming We to have related share make continue on international quarters. in and discussions expect to other more to
the hotel plans. continue front, our on on progress Fifth, also we make to
details hotels, the about mentioned we first last begin quarter, locations to and we planning expect identified opening design first in We our these properties we be the As soon. offering and our we'll on refining X more hotels, are XXXX. of
We additional continue other the continue first to to are make hotels, projects years planning in our X we markets. And hotels in to opening to on progress subsequent following. open
strategy. questions from hotel also have received of We our about investors our some
have of excess underutilized. is As significant we you parks land most currently all that know, across our
will upsell that highly staying to cross-sell We generate capture and length ROI. currently build us properties, properties, have from an compelling attractive parks, to packages, and profits guests, increased unique increase other our of opportunity with stay integrate our at loyalty guests allow offer compelling that vacation our more at hotels are a
asked have finance might how these investors we Some hotels.
several have cash fungible, given we these While projects. the nature options is of
and sheet. our a expect combination to these balance hotels We finance cash from of debt with
we and of make we expected Orlando. are generate north peers many and us more these business types guest hotel revenue in long the and fully allow that investments equity provide of expect profitable value expected are on making generate underway the the significant for Many about of aware initiatives of very efficient XX% cost experience, will including of to more more these our capital have across we compelling improve markets, expect enterprise. a Given These that on projects these in we our to us the our the various are projects. excited I'm returns hotels to our returns you and highly projects, are overdue.
value. will resilient even more that and increases are We we operational and meaningful business shareholder are financial improved building stronger and an substantially confident in results deliver
comment Let our briefly continues be sheet, which me strong. on balance to
September sheet balance cash $XXX.X the value liquidity, This capital XXXX, shareholders. to total is XX, million business and ratio net opportunistically and had on we X.XXx, including sheet. to gives with to total in strong over the balance leverage available Our our and of of maximize approximately flexibility invest allocate grow for goal us to continue million long-term $XXX
also use received our of have cash our our free from expected about questions We some of investors flow.
generating the free of adjusted flow at generation. As benefit you know, EBITDA we current our have cash significant
We acquisitions. on stock, investing and use including buying dividend, making to debt in the paying cash the down this business, paying have excess flow, options how back
buybacks our highly Board to investing been best More use the our highest knowledgeable return available and very investing focused and devoted has on the recently, allocating Our history, have to in more business that In capital capital experienced opportunities. highest Board we in of our cash. determined business. excess has the and recent and is
capital working the very allocating that on and this is opportunities is Board You ensure best assume outcome. to focused available should the to
to more share clearly. have we this, communicate will we As this on
which are start award-winning ahead, about our we Looking events, holiday week. excited this
year this our and XXXX be yet to holiday best expect strong. event to expect We finish
of our Seas Following and our others. and with Food holiday by our Look, Seven Food events, among Mardi events, XXXX our off Festival, Wine we popular Inside kick returning will Festival Gras, many including
in more results With Jim? will discuss that, detail. Jim financial our
