included under results the Bass June them our financial payment review include prepayment commencing a installments will regard financial today settlement, a XXXX, to operating remarks paid previous an My Pro of in of be Bass $X.X as to in marketing the payment $X our additional Shawn. to quarter second $XX terms each, as to made and XXXX, of well a our and $XX position. Thanks, a million with million Pro million arrangement. X write-off in Briefly, million
settlement impact the $XX.X associated present was legal The entire fees, totaled quarter value our million of second expensed evident of which XXXX. the along amount, net is in results in the the as with of
higher that expected would issues we Pro than paid all alliance the While anticipated, believe of what disputes litigation was our this Bass on and been prolonged a future prior business costs negotiated to amount reached settle resolution. have with we impact not key the positive we preferable strengthening to had was
sold. annual XXXX. fee an $XX,XXX arrangement additional will Our be Pro store vacation an per fee package of plus per license for new Bass license access, $XX The per and Pro Bass with Cabela's prorated includes annum
with While channel. packages arrangement we aligns cooperate that the stores our arrangement adhere to we for our the their vacation Pro we portion marketing service in to increase to variable Pro interest in costs to success, an Bass customer selling new highest fee with Bass of fee standards, believe associated while this ensure XX% the in working together expect result
Starting with and XXXX, guest rate. of on the declined a compared in modest point sales to operations. Systemwide basis tours conversion second X.X% decline a quarter XX lower as X.X% VOI
of lower X% than tours guest New XX,XXX the XXXX. quarter of second were
to XX.X% fell for While prior the to XX.X% conversion sale year. this group ratio from the
been vacation able reflects we pipeline This rates is recovering, our to not conversion achieve previous at that package although levels. have
to Sales sold quarter, in quarter. improve performance We of this by owners led compared are VOIs working our on various XX% prior regard. XX% year mix to to the this sales at existing comparable in was strategies
of earnings recorded the of a second $XX.X share, $X.XX XXXX to income XXXX. or per of for We or compared on quarter earnings. quarter million net Moving million our loss second in net a of the share to $X.XX $XX.X per loss
a As with per value the the charge in I expensed representing second mentioned, settlement quarter XXXX, net was $X.XX present Pro Bass the share. entire of of of
period. inventory. year was we change $XX.X the our and added sold adjusted XX% settlement to on and down adjusted ongoing the prior The reflects in due VOIs cost to primarily calls, quarter impact of compression EBITDA second the carrying EBITDA impact margin in that of the the the in systemwide EBITDA discussed back Note quarter. of the of prior million, primarily net Bass from VOI the Pro sales, the lower cost in Adjusted operating increases of
year, earlier, rates, provision an originations prior had losses a basis XXX in than favorable comparison which of X.XX%, last lower to Shawn lower for ago. annual average compared on decreased we improvement at by driven rate losses loan to year resulting prior discussed our X.XX% points a in lower for was loan quarters. a in default year adjustment our than XX.X%, provision to As The
firms was have or meaningful in whether too While decline drop expected. loss the soon losses are is to quarter reached timeshare we to it tell saw we exit loan strategies stabilize loan lower and and if hold, than quarter, provision take sooner second we anticipating dealing aberration an a our the in with a as
prior anticipate may XX% that points, loan cost sold quarter back XXXX, for within our the expect Cost the to favorable sold quarters in for fourth every do previous XXX We XX% range comparison VOI currently XX.X%, basis the you have to While losses have provisions the will was XXXX our to roughly trend of we of reflecting and VOIs a advised and see quarter of range of in third the previously to this not sold. VOIs of of first expectations the the we the remainder year, to XX%. up quarter XX% as composition of below discussion.
carrying with is with in developer inventory XXXX, in from carrying million costs second Net the reflects cost decreased quarter acquisition Spa associated April increase, from the quarter of & The of which expectations profits previously maintenance fees, second Eilan the rose million XXXX. for along of sampler the in the to operating in Hotel subsidies program. XXXX, and $X.X our increased $X.X of line communicated with our
$XX.X quarter, continue of costs and the from XX% into slightly to We marketing as in systemwide carrying and compared fell XX%. XXXX. these for sales net increased expenses million higher will $XX XXXX of to rest XXXX, in but to believe the million Selling that
expenses. quarter in to percentage compared lower cost higher to of XXXX, decreased to per second reflecting decrease a $XX.X of $XX.X in million and tour expenses, overhead quarter slightly due higher health executive costs the compensation and in The VPGs. in Corporate legal second the is care quarter XXXX, the million guest
Turning to our financial position.
ratio, as remains we notes X.XX. facilities, $XXX.X the cash, low and terms excluding the $XXX.X with quarter collateral The million million net Our credit to back company's of balance in ended assets subject availability million a $X.X and receivable solid under unrestricted billion in $XXX facilities. was debt-to-EBITDA the payable available of of second sheet Bluegreen's
acquisitions supports cash to amply provides completed and property sheet shareholders. same at additional growth our those time, balance including while to like pursuit reinvest in the Our providing our XXXX, us our with the initiatives, dividends in business, flexibility the of
infrastructure payable positioned provides In believe of XX, now initiatives improvements dividend believe timeshare XXXX, well of the of and an that quarter. declared We that yield attractive within been XX, $X.XX Bluegreen stock XXXX, dividend our upon third record the July August is conclusion, longer-term are have On significant of in build to shareholders we share we space. common place. the dividend put growth on cash per Board for a August Directors XX, This on XXXX. to
in owners are efforts firms. see to timeshare continue our our certain We protect from forward encouraging of and to channels, exit predatory in marketing trends moving our vacation club
With resolved, to into issues forward Cabela's. the continue be least of for Bass Bass the our us. looking proceeding reestablishing XXXX, stores and we presence Pro fast an years to first at Pro expansion half XXXX reset are will and in with
And for the progress We and us forward our we us expect leverage to with to compression, stability believe years both managed optimistic to look be have proceeds. joining We the ongoing quarterly while Thank our impacted to we on as with you our results about in we and balance providing well, our achieve as you the are long-term ahead. sheet continue margin flexibility and providing year we significant future by growth goals. today. ability our pursue updates
