Thanks Rob.
a reviewing few review EBITDA finished where to financial minutes time I'll Then outlook. our our spend XXXX results, quarter fourth ahead some revenue I'll guidance. our First, take of and adjusted
I'll will to Shareholder be the impact find compensation, Unless be you can results restructuring comparing and quarter quarter and fourth XXXX of the of fourth combination noted outlined excluding expense in Letter. our costs, costs, stock-based our lines business referencing I the operating which otherwise,
homes, XX,XXX approximately with XXXX up XX% finished year-over-year. We
combination is booking value, $XXX and sold, XX% sold quarter, value For night year-over-year. the booking million, fourth which per night gross reached the of up gross
in homes Night sold new by to fourth X% the the quarter, up the bookings night increase the $XXX addition Gross driven the of were primarily million per value $X.X in fourth with up X% year-over-year. reached quarter, year-over-year sold platform.
strong there either per in Remember, it's isolation. night sold between is to and look difficult value relationship night and booking a gross at sold
sold management optimizing constantly occupancy team income. with sold the booking between price value evaluating gross and mix revenue per of algorithms are the goal of Our trade-off and to homeowner optimize night the and night
to consists and primarily quarter, million. which homeowners of in fourth million $XXX commission $XXX was generate $XXX for on range Revenue, year-over-year and million we from XX% the the up of rents fees guidance we our guests, above collect the our
November, in call a second variability of in expectations guest the season. our the some earnings level fall. summer lower quarter at softness albeit noted quarter, third our that bookings we the the During strong versus half There stabilization in some began after in and was
our revenue in period expenses. of revenue versus was same of last turning revenue the quarter year. revenue last Cost to the of of Now, XX% same Operations XX% in quarter fourth and revenue fourth in year. versus the was of period XX% in XX% the expense support
quarter. customer these recall our higher market local the will lines, than during expectations and support costs, consist of two You primarily our which were third expense
to ability in appropriate match variability As out scale how impact resources into revenue market and fourth concerned local demand. recent look turn, were levels quarter, in our we we bookings could down that guest to the the
the were able high half down we bookings we finished end to our the than and of more scale second anticipated. our quickly During costs quarter, near expectations of
and were Technology X% lap year. fourth as the large the scale year-over-year. we $XX Sales XX% ran and were advertising expenses quarter expenses brand we down marketing in down development million year-over-year or last campaign
requirements of expenses General business were the to associated due and hiring with a to and the increasing support being administrative company. X% public our scale up year-over-year, largely
expected the our our negative efficiency to resulted the in million negative operations expectations. ability million. Better beat for negative our was the faster $XX of EBITDA $XX $XX market range local drive million than with above combined Adjusted in quarter, fourth guidance versus bookings to
One last on note the results.
the Following of we is and million charge our in goodwill took in for goodwill an The carrying our of fourth tested following the amount balance share December, of the million. our quarter. impairment impairment decline and $XXX November price $XXX impairment
strategic a is primarily acquisitions. As our to our goodwill portfolio related reminder, and
to our turning ahead. year outlook the for Now,
of changes, into are industry results business guidance prioritize explicit difficult. As success. dynamics, for introduced with for to XXXX remarks, long-term our position and his along they the on making uncertainty Rob in the providing in These process we changes profitability the and touched current
our overall traveler the Total leisure vertical. strong, remains markets within of homes travel years record uncertainty there two US [ph] in while industry demand. following First, is
gross but to the it's plan how year peak season, start booking value to the play so from year-over-year we of months XXXX, are know for too per continue exactly home early still away decline We to average out. in will
our Second, home approach. the in strategy sales will mentioned, the of time growth. individual sales need as The the affect to reduction optimize also sales adjustments and force Rob size to our we
churn of persisted this not the we which of our of is least years, over higher few due experiencing part have churn, industry highs unique levels feedback normalizing Vacasa. is owner Additionally, into began in owner the past quarter that we on the revenue the increase XXXX. record believe experienced fourth above Based has the some timing and that to to
homeowner our generate our in we believe income that the ability fact, of industry markets. outperforms In most
for expectations set taking We year to the of this steps dynamic appropriately are owners ahead. inform and
on we Finally, while been need progress build and operations our third peak on to in second that positive, has local the during initial market improving quarters. the season especially our progress,
focused on it the but We business take day-by-day, quarter-by-quarter, time. improvements to the making are will
With focused that while XXXX adjusted maintaining the and are to EBITDA in guest profitability on execution for slight the homeowner year, and mind, achieve in experience. we striving
recognition Given our booking assumed reduction our XXXX will value decline in focus single-digit our full to double-digit lapping likely primarily wind low high revenue stay services, per in investment credits year believe home gross we the profitability, portfolio by percentage last a our XXXX. year-over-year; on by versus driven in real of of estate the down programs, reduced brokerage our year, and future
and XXXX services will single-digit decline a headwinds brokerage from percentage the wind revenue high stay of of XXXX to effect Excluding our the the year-over-year. likely the estate future by mid-single-digit down credit, real
This we continue homes and of will number to our per changes sold peak platform on we to as season. in gain booking night value outlook sensitive greater highly into visibility the is reevaluate gross and
As be we million would sit revenue range here quarter expect of to first $XXX today, in the million. we $XXX to
continue variability weather in and to ski experience impact severe However, we in our may to see markets, continue patterns which these numbers. booking
first $XX last EBITDA, For the million stay expect in would from magnitude to year, quarter losses adjusted credit. benefit first to be in the quarter we future excluding the roughly similar
years. the still issuing off are guidance we are to on the announcing explicit first plan period. We end booking earlier record future given in we will not be patterns quarterly of we the forward, quarter two are emerging comes industry the given guidance close We to adjusting providing going as quarters do how and
With will that, line. open take questions. please the up Rob your Operator, I and
