us morning, in three for the just revenue prior is Thanks annual Good $XX revenue, everyone. We total in finishing highest million today. for XXXX million Shack XXXX Inc. over year. Drive with years, record which reported year a was $XXX above joining
adjusted delivered million around XXXX, traditional For also we highest in EBITDA, total since business an $XX entertainment company into the golf our transforming company.
so $XX EBITDA For increase around the high, an fourth pre-COVID XXXX, $X.X prior versus million million. of million adjusted million demand quarter, versus year. exceeded The traditional of $XXX generated revenue revenue, AGC total remains even company levels. and in for golf over $XX did In
of XX% Revenue and notable at with each daily over remain and capacity XX% fee fees from XXXX. clubs also cart green a private year. is increase up versus in Our membership prior total rounds approximately nearly rounds XX%
was of is and we’ve its on stay XXXX the non-golfers elect. here transformative to and game will of in game golf popularity to all for hugely golf gain rebounding generated, Based the golfers terms you are numbers with of only year continue the aware, due a As COVID. to momentum
expectations almost year, year event projections ending guests, coming the Orlando $XX.X the but Our Shack events Drive business history. a above over the even In rate driven At four walk-in also of run revenue non-COVID million walk-in over its venues in million outperformed gathering year lucent. generated our broke the group mainly revenue grew $X.X Drive year. first time around $XX in and the was million our the in revenue in EBITDA, million in and in XXXX, as beginning slightly just the in and QX, by $X of being the regulations in course and venues Shack the for revenue.
quarter were XX%. this QX had both out courses pre-COVID success over of coming COVID. was in and AGC XX% levels great around while just business walk-in in of Our events Shack XXXX, our Drive We’ve and venues
We with Puttery are seeing the pattern our venues. same
with opened venues the venues just Charlotte and additional revenue currently just million for $X for Our and planned in under XXXX. QX in seven openings We two an have the generated under year. Colony million in $X Puttery
for of Page the venues, In history to get we’re of deck on venues X working bit of There’s sign this of we’ll most a addition a company are large these who of new the our those XXXX year for to pipeline openings, of you to additional which goal our story. XXXX. openings on through to in XX
a business operating from three-plus past traditional Inc. a Drive Shack entertainment transformation an undergone the company. significant to golf years, Over has
Richmond growth in three initial agreements significantly golf of of strong, first to location development Drive These XX%. later our fund During year, venues venues converted business, putting fund We the and mid-December to opened immersive an April colony them a and three into We beating golf this the XXXX, of new entertainment we followed the since and of year Generation XXXX August, tech-enabled time, course our sold Shack expectations Orlando opened that West in Palm of indoor, We plans owned of Raleigh, and were which today. in our Puttery, majority in namely XXXX. Orlando, last took developed by of number technology experience. operate and learnings portfolio just those Charlotte outside We’ve the the Beach. within their from managed our called our our September we in experience that by entertainment of three opened first September venues a months specifically Puttery opened Dallas venue XXXX. outperforming of in opening in X.X our is our October Shack enhancements Drive
Our by goal a of total XX to end Puttery the XXXX. open is menus of
our now of view X Turning Page a to and and for courses time-line summary venues.
in On Richmond with managed XX and in business, our QX our courses. the West Palm. Shack XX venues owned, Golf we and American side held currently across Drive entertainment business, golf X Raleigh, states Orlando, courses we XX nine four leased With have of
and we we new We New in three now North execution. Houston venues two on Kansas, we In in reported Missouri which we announced Kansas Missouri and venues a leases open and have additional Puttery Miami an have With City, nearing are committed QX, stated additionally had venues in to And Since – morning, in D.C., Carolina. the an Texas leases we then, City. five Charlotte, in this Manhattan. we York earlier on leases just additional New Orleans Pittsburgh Colony, added Puttery, and rather. lease location Philadelphia, Chicago, were and
U.S. actively a future pipeline we’re XXXX and and beyond. of prioritized the pursuing for Puttery have locations, markets robust across We
lease to the with U.S. time several negotiations in brokers in line markets moments. a and are across in active and in engaged speak actively development We and remain multiple plans more our I’ll few markets major landlords
mid-December. and about in the the opened September courses. different Texas across We in feet, with different an two courses, and has in mentioned four We three and story has which handful observed and I footage square lounges large we sizes Charlotte number the throughout. XX,XXX two prove numbers first nine indoor/outdoor two be of on patio. out so response venue The and spans in each venues debuted intentional As venue across floors of is and square and first call of our Colony, uniquely rooftop, XXXX. concepts square courses X earlier, our library, were difference the the Carolina number in size the guest trends bars, illusion. two courses to library lounges positive. patio North single and multiple of both conservatory It in of just multiple with we courses, feet, venues Puttery terrace, we hole bars, at with of The Even very XX,XXX continues that is venues, themed we’ve our similar seating the Colony a areas under could these venues perform Charlotte,
of – of with XX% opening through evenly The event revenue the generated million year, the to X% see and in million being in food charts revenue of of that roughly to at the beverage. event gameplay, XX% total their of $X Looking plan over on reservation to was just the in remaining sales. February this the of in in revenue, their via mix XX% Both has opening through platform. comprised Colony nearly generated year, over year this this half Page plan Alcohol this From F&B X, game mid-December split course our that Charlotte of food their revenue. venue to and per revenue, X% of in February attributed openings between around sales advance nine-hole XX% last venues of an to year XX% guests visits roughly $X their revenue $X minutes average and play. XX each takes XX% revenue from beverage nearly revenue, February from nearly million
these particularly positive We’re extremely results with strong venues generating in with pleased EBITDA each in operating to-date, performance level QX. venue the
delivering level of them to we forward projected We’re within month, put several we and quarters the expect proof gaining each with well ago. concept continue passing economics venue
as million delivering to events. last venues impressively $XX.X record Shack was annual $X performed which revenue of million to high Our attributed X $XX.X of revenue year Drive walk-in and million, well,
numbers, XXXX, highest EBITDA Orlando million. venue With Again, even annual to-date $XX.X EBITDA. level revenue delivering we the its in first these also level generated high ever broke of record venue positive
seeing events strong, are us, has to returned continue business also stable we’re our the and post-COVID from with Drive the levels The indicators above results to that locations with our largely for Our business projections. Shack normalized rate a rebound. demand venues pre-COVID expect we the Drive with their or run increasing delivering Shack walk-in great them continuing are events, at
total a million versus XXXX. in deck. on was revenue Page illustrated walk-in You for XXXX, can venues in see million XX Event in $XX.X the Drive $XX.X In Shack generated $X.X the versus of $X revenue million million XXXX. XXXX trend of
As X of of pre-COVID a I events XXXX XX% QX was almost were $X Shack revenue, levels approximately million generated of of XXXX, and QX mentioned which million the over $X.X $X of million nearly earlier, while in venues Drive in just XX% walk-in $X levels million.
confident The momentum showing million. our management with opening Given revenue, XXXX we reimbursement $XXX.X excluding from has results world, signs of that business XXXX, of COVID-XX. that in golf our our throughout a of continued traditional was revenue QX are are pre-COVID of quarter rebounding side total our fee
increase XX% outperformed XXXX. As XX% and Page our fees on private courses versus nearly private up numbers public this total XXXX. versus a cart Both revenue up rounds was at XXXX courses you can XX% with and from green see XX, and
our continue and in both We in of up and private event public was capacity at almost clubs coming across year-over-year XXX% $XX XXXX. million maintain all membership-based at to XX% revenue private
now Page we to As turn XX.
seven we additional to venues. XXXX, of expect course the open Over Puttery
strategy to the City, In from communicating and these, expect as it comes venues to City. venues signed a when addition Missouri. a LOI and tenth ensure York currently D.C., have revenue and openings process. as we New eight when process we leases to amount to we taken thoughtful in bit of the Miami, number approach very are we we time them. the current of given robust that other about Chicago, are open market we announced be openings the Puttery of year transparent clear to and our that in of Philadelphia, open want to today, possible additional learned We’ve builds in want expect have negotiation Behind quite this our lease between the two the and We last open conditions. And as in pipeline to ensure Kansas morning, appropriate Pittsburgh, we have Houston, venues
the of obstacles XXXX in Page a is the venues across are on attainable U.S., we very either are shows an and for seven realistic. possible a entertainment visual While XX by chain representation map have golf that presented present, existing supply the evaluating and GC location states on still labor strain the The the we where confident or location.
around Puttery, illustrative outlines XX U.S. each risk of Shack forward ability Drive can States. XX higher for business. big we capacity to $X growth that current quarters you under across U.S. grow prioritized we to and us for Our venue less to adjacency the and nearly be remain look expect we for build with million put million gives With and includes Puttery level at an Drive projected total company. returns both confident the and that economics XX $XX a markets will current continue XX the than future is box the markets United Puttery spend Shack. markets the economics Venue. of see coverage path Page a capital level And to just to venue. here, quickly to ago, venue our When we several was as best our Puttery
take construct Drive approximately a and level that expect complete expect EBITDA the to venue build six to and Shack both early and where between Mike through Comparing financial both million Puttery Colony it are physically between months each we’ve results a to $X These targets venues proving $X but level $X I we’re and that to of to million that results, and we’re these results. within in million between that well it our million. nine We we venue and XX $XX approximately EBITDA now provided. and strategy XX to over Charlotte are seeing to months spend will million. in the ranges taking new our generate capital great take $X economic to turn you generating to also million and $XX to the venue,
