Some factors that affected the quarter’s RevPAR in DC were related to the Pentagon’s Base Realignment and Closure Program particularly in the Crystal City area where several of our assets are located. Also affecting our RevPAR for the quarter was the fact that our second largest market Dallas, hosted the Super Bowl during the first quarter last year which makes year-over-year comparisons challenging.Lastly airport markets generally, and our airport markets in particular experienced better weather by comparison to last year resulting in fewer stranded passengers needing hotel rooms. In January and February for 2011 the nation experienced 45000 cancelled flights compared to 12000 for this year. Clearly compared to our peers we have one the most diversified geographic portfolios which we believe mitigates risk. The pace of the economic recovery in certain markets could at times contribute to RevPAR variations.
Ashford's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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