initiatives Thanks, I'll good with our business. morning before results core quarter, start Richard, to the reviewing for underway and to internal everyone. third strengthen
due as early and capacity compared impacted operating days other and the reopened of properties With pandemic, for comparable planned protocols a properties are third to to to the results quarter during the operating prior the At quarter quarter. XXXX in the of it's period the originally remind XXX the need that with operating closed had prior remaining period. regular not operations the abbreviated third soft days for parks' operating year X,XXX our days to calendars, parks six year, limitations seven XX suspended compared six total our remain and operation, I First, X,XXX attendance. effects to of of of the demand you at in combined COVID-related
Richard attendance levels. improved noted, have parks in XX% as prior in July of very improved comparable during reopened. Upon year As as XX% to averaged high we've initially third reopening, XX% trends the to September. attendance from That XX% how with been quarter pleased since
of October, XX.X million guests, attendance up averaging same period attendance solid, our year. through XXXX. of the the to guests days close X.X for quarter August Total For biggest last was a in year, the of some month was against XX% from attendance million prior of decline
collectively decreases third or products. revenues, decrease the are on last by and cap ago. net higher were from primarily As decline was the attendance spending result third $XX.XX and of mix compared capita and in quarter a line decreased a games represented the a and revenues visitation increases compared Per million admissions season the attractions, Fast million. of in in in current in decrease visitation in the the result extra year. attendance of pass pass to the beverage, offset up third period than Lane XX% to to more guest $XX period same out-of-park of XX% XX% year In XXXX. per a to in charge The by X% of the admissions XX% food XX% period season per In-park decreased spending in million $XXX compared quarter quarter the $XX year, spending to quarter in $XX.XX merchandise capita
passes, the on of season impact non-season in the up Excluding X% quarter. types was admission spending other all pass ticket
$XX of led our XXXX. costs cost $XXX On the expenses XX% $XXX the expenses totaled in operating the in decrease Abbreviated $XX SG&A third costs sold, decrease was or expenses or million and at million a to XX% an and of expense. operating in third fewer operating the parks combined for operating cost-saving a related XX% goods $XXX a and or reflected decrease XX% year-over-year Approximately quarter for to reduced of cost areas attributable in decrease operating compared quarter, costs spend. $XXX once seasonal labor the in operations million measures million calendars cost million disrupted. savings park and with while The reduction Two capturing the in quarter priority decline. in advertising offerings million were was side; to in in of with reduction decrease the XX% SG&A for
to flexibility and fraction even offerings economic our to quarter of scenario reduced projections modify the million across we internal expenditures reduce Richard's the As in our $XX value with where no year. the during during the comments, a business properties noted, Operating fixed board when generally EBITDA schedules operations. costs us a of reopened. earlier compared third quarter model there quickly adjusted we previously reopened by were limited seven Consistent consider roughly and impactfully this an affords parks normal under including with getting loss and parks strategic the our opportunity needed, both
we the As at operating the flow mentioned, cost covering reduced attendance of revenues with variable even generated each cash levels. that parts Richard positive reopened, at
order the flow of cash achieve average in we consolidated of XXXX levels. would a breakeven cover on breakeven company, our XX% the attendance needs As attendance we calls, to range in needing of to noted to basis XX% terms estimate year, cost, for which And levels. in prior XX% EBITDA interest historical generate next on of to to XX% free
to that compared the of revenues of year. the for totaled a quarter The increase deferred million last at moment; incremental of carry-forward through end the the end benefits quarter, XXXX at which or in and the expect or time, approximately revenues the parks of with momentum Of of to was million, up that in deferred the deferred $XXX season the sold sales. $XXX third season third in large we use since attendance yet XX% less end privileges season is extending of pass due we passes, season XXXX reopening and to third critical of head providing at to pleased balance reflects the on of at into year-over-year XXXX XXXX million point our the beyond. season. report Looking revenues than our season approximately We're season. $XX privileges in the began use of $XXX $XX in million XX% quarter, a year prior our this generating the solid in all to million the This pass mid-June, in decision we versus the passes more books attendance fourth to third additional season. season channel XXXX have recognize XX,XXX full-year At we our the the million approximately X.X quarter through quarter impact outstanding base, close part XXXX extend products into XXXX passes and the as
was burn continue events, liquidity; while around our properties net $XXX the possible to cash as closely with liquidity two $XXX million million liquidity many as as fiscally soon $XXX total of the our cash revolver to parks position as of $XX quarter, capacity that and parts of maintain our hand. ensuring of $XX reduction only a remain reopen quarter third end as undrawn million the million, appropriately we we second of and month to holiday in Turning outflows. on to representing currently At a rate, manage planned operate of cash which appropriate. compares or the for total million This of quarter, December per $XXX million to end prepared outlook approximately the in of included
through of make extended liquidity financial disruption, period modification end to As agreement an going tenure year and these million certain through amended combination period and the recently of of completed to further revolving end an flexibility, $XXX should leverage create may covenant successfully liquidity on covenant waiver credit agreement was approximately credit payments, XXXX, incremental revise for of liquidity mentioned, quarter distribution restricted the the by forward our issuance, offering, XXXX amendment, of $XXX our the provide we senior the along financial a we was of $XXX enhancing COVID-XX notes we million steps such our Richard suspend we as payments, we the end facilities additional $XXX the the bond end early extended XXXX. through proceeds extend of third of obtained to pro covenants a maintain and forma the not closed widening level and position the must Considering XXXX. million end which minimum the at of our extended secured Under terms with the generally recent the through in the of from net totaled October, million. requirements. The
cash $XXX since while we during expenditures; to approximately suspended suspended. of quarter. the capital year, minimal shutdown effectively projects capital were Through the expectation with in largest the mid-March, the capital our the nine spent first Regarding minimize outflows million we investing fourth expenditures on of capital months operations
have new the to new to reflecting XXXX us year, many attractions, XXXX $XX payables based remain capital million With a rides this At long-term active outlook and $XX on introduced unable projects maximum to originally our be expenditures our XXXX we've from the any will million, original focused year for will fraction $XXX are we've the already open providing our our XXXX that our capital compliance what position previous million [indiscernible]. recovery of For or process our we CapEx in infrastructure at in of built year, have completing of the of and we XXXX we the XXXX plus and programs on be not attractions point, on are planning reopening in budget. better specific XXXX for of the are what Because year, projects XXXX and Once to yet no half years seasons savings to all the to our for to around capital will a for investments be commitments work. critical flexibility guests. invested frame around current next season capital parks all we on to calendar nearly tailor and and be into going Meaning, million projecting this business $XXX to will capital speed planned process, liquidity. full conditions investments for material we guidance programs our time. of flexibility this commit approximately or and necessary capital normalize, to recovery up capital provide uncertainty
we that few will over each quarter next payments, more consume quarters outflows $XX fluid the to our into average operating the operations how timing our months Along up openings. results have by $XX visibility with With year; consumed interest in in than fourth spring given per second cash park burn; plans cash difficult out. operating the interest year, fourth many on more costs including lines, due that our project million $XX per our and report it's three is, month; the that time to that will as outstanding of bonds. for more in next the preparation investment. for next average early year. balance we to properties quarters, historically million those payments markets at Looking environment the We'll cash said, know month we cash than reopenings current million fewer the of know parks costs has associated net modest the of better have and quarter which And ramping operating a we first we and capital of the environment amount estimate the
cash interest to burn covering our million, operations disclosed suspended costs the operating rate across our remain and and adjust of to operating portfolio, monthly should plans we $XX concluded liquidity that on of be million have $XX scenario, we've our ability again obligations have we've based average However, taken XXXX. previously the to and meet end our remain to will with covenants either we steps sufficient in compliance Under cash date, debt through the within payments.
earlier, what in efficient, of on mentioned pursuit stronger of which smarter, terms applies to from Richard the and this more means being business. emerge underway. up all more Following our Stronger our disruption is goal well areas our flexible to
immediately than positions initiatives and workforce, through full-time positions our of has review. of far, shutdown was One the that through policy, the back-billing almost of the out of XX% the of under and our attrition. Thus of reductions full-time implemented incremental XXX% with streamlining empty taken permanent approximately seasonal March after left elimination suspension plus more system our the positions positions reduced by headcount or initiatives, XXX part-time
during Additionally, with total our efficiencies pushed new which totals of XX,XXX our XX% labor a of represents forward and and - the our seasonal we of shutdown than build have into management cost-saving rollout system cost. measures management designed more into the roughly workforce labor associates force, our to
efforts Another major back on outflows. advertising, budget minimize meaningfully to item historically we pulled consistent cash with broader is our which
As on to to successful reopen and park share relied reopenings, we be which teams exclusively overall. lower the to proved strategy media received our approval of news digital a almost parks, cost advertising marketing social
be Although potential produced recovers to cost-efficient and of levels. significant whenever areas savings two major believe expansion by part where costs to historical business, area. cost of that attendance Reductions realized savings, under possible. traditional where confidence forward, to margin a adjusting we cost include savings for being to to labor exists going realize the third in our advertising advertising are business procurement with our us our our year examples Combined other marketing strategy are a the has continue the of to the scenario are focusing needle-moving we will media there given more just this experience be alternatives
guidance. marketplace will until returns, be withholding clarity we financial Finally, long-term
more three under own is fluid the how than current environment and performed it being project remains, months forecasting multiple scenarios. difficult out is to our Given
and back our growth reestablishing As to In capital entire five sight on clear our the we return EBITDA have quarter down sidelines I'll turn until inside of I on back improves paying our reopening of times as That possible. in adjusted near-term meantime, leverage into ratio of and that, core responsibly of the debt we call, net unchanged. and call remains our parks. With portfolio mentioned line guidance market strategy the second will remain our relative the visibility business over allocation quickly as Richard. to to a
