Interval Leisure Group, Inc. (NASDAQ:ILG) Q2 2017 Earnings Conference Call - Final Transcript
Aug 03, 2017 • 04:30 pm ET
Good afternoon. At this time, I would like to welcome everyone to ILG's Second Quarter Earnings Conference Call. Please be advised that this call being recorded on August 3, 2017. My name is Charlotte, and I will be your coordinator for today. [Operator Instructions]
I would now like to turn the call over to Ms. Lily Arteaga, VP, Investor Relations of ILG. Ma'am, you may begin your conference.
Thank you, operator, and welcome to everyone joining us for ILG's Second Quarter 2017 Earnings Conference Call. I want to remind you that on our call today, we will discuss our outlook for future performance and other items that are not historical facts. These forward-looking statements typically are preceded by words such as we expect, we believe, we anticipate or similar statements. These forward-looking statements are subject to risks, assumptions and uncertainties, and our actual results may differ materially from these forward-looking statements and the views expressed today.
Some of these risks have been set forth in our second quarter 2017 press release issued earlier today, in our Form 10-K and in other periodic reports filed with the SEC. In addition, ILG disclaims any intent or obligation to update these forward-looking statements, except as expressly required by law. We will also discuss certain non-GAAP measures in connection with ILG's financial performance. I refer you to our press release and other materials posted on the Investor Relations section of our website at www.ilg.com for comparable GAAP measures and full reconciliations.
And now I'd like to turn the call over to Craig Nash, our Chairman, President and CEO. Craig?
Craig M. Nash
Thanks, Lily, and good afternoon, everyone. Thank you for joining ILG's Second Quarter 2017 Earnings Call. We are very pleased with the results for the quarter and are on track to meet our targets for the year. Revenue and adjusted EBITDA for the second quarter were $450 million and $82 million, respectively. As expected, Vistana made a significant contribution to the results.
Results for the quarter reflect the successful execution of our Vacation Ownership growth strategy across our branded platform. Assuming we had owned Vistana for the entire quarter of 2016, consolidated timeshare contract sales were $123 million, up 21% when compared to last year. This robust performance, which comes on the back of a 17% year-over-year pro forma increase in Q2 2016, is primarily driven by strong sales of the Westin Nanea Ocean Villas and Sheraton Flex. These attractive products have boosted same-store sales and have also contributed to the ramp of the new galleries, notably those located at the Westin Maui Hotel and the recently opened Westin Nanea Resort. Over 50% of this growth came from new buyers.
Total consolidated timeshare contract sales to new buyers increased 130 basis points to 46%. Tour flow increased 15% in the quarter, again, on a pro forma basis, primarily reflecting the success of marketing initiatives focused on new buyers in the opening of the Westin Nanea. Volume per guest was up 5% reflecting a 2% increase in