Revenue during the quarter went down marginally by 2.19 percent to $254.40 million from $260.10 million in the previous year period.

Cost of revenue went down marginally by 2.87 percent or $3.30 million during the quarter to $111.77 million. Gross margin for the quarter expanded 31 basis points over the previous year period to 56.07 percent.

Total expenses were $240.55 million for the quarter, down 2.39 percent or $5.89 million from year-ago period. Operating margin for the quarter expanded 19 basis points over the previous year period to 5.45 percent.

Operating income for the quarter was $13.86 million, compared with $13.67 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $61.81 million compared with $64.97 million in the prior year period. At the same time, adjusted EBITDA margin contracted 68 basis points in the quarter to 24.30 percent from 24.98 percent in the last year period.

Occupancy revenue was $178.36 million for the quarter, down 1.68 percent or $3.05 million. Food and beverage revenue was $52.30 million during the quarter, down 7.18 percent or $4.04 million from year-ago period. Revenue from other hotel operating activities was $20.37 million for the quarter, down 1.34 percent or $0.28 million from year-ago period.

Other income during the quarter was $3.37 million, up 98.88 percent or $1.68 million from year-ago period.

"We are proud that our teams continue to operate with excellent efficiency across the portfolio, as evidenced by a decline in hotel operating expenses during the first quarter," said Michael D. Barnello, president and chief executive officer of LaSalle Hotel Properties. "We have been opportunistic in selling four hotels this year, and we are pleased to use part of these proceeds to redeem our Series H Preferred Shares," added Mr. Barnello.