Host Of Boston S-4 Registration of securities issued in business combination transactions

EXHIBIT 12.1

HOST MARRIOTT, L.P. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED LIMITED PARTNER UNIT DISTRIBUTIONS

(in millions, except ratio amounts)

	Year-to-Date						Fiscal Years
	September 12, 2003			September 12, 2002			2002			2001			2000			1999			1998
Income (loss) from operations before income taxes	$	(137	)	$	(7	)	$	(13	)	$	66		$	112		$	273		$	(53	)
Add (deduct):
Fixed charges		410			401			584			579			534			494			681
Capitalized interest		(1	)		(1	)		(2	)		(8	)		(8	)		(7	)		(4	)
Amortization of capitalized interest		4			4			6			7			6			6			6
Minority interest in consolidated affiliates		3			9			8			16			27			21			52
Net (gains) losses related to certain 50% or less owned affiliate		13			6			9			(3	)		(27	)		(7	)		(4	)
Distributions from equity investments		3			4			6			9			1			1			2
Distributions on preferred limited partner units		(27	)		(27	)		(35	)		(32	)		(20	)		(6	)		—
Adjusted earnings	$	268		$	389		$	563		$	634		$	625		$	775		$	680
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	350		$	341		$	500		$	493		$	459		$	436		$	597
Capitalized interest		1			1			2			8			8			7			4
Dividends on convertible preferred securities of subsidiary trust		—			—			—			—			—			—			37
Distributions on preferred limited partner units		27			27			35			32			20			6			—
Portion of rents representative of the interest factor		32			32			47			46			47			45			43
Total fixed charges and preferred limited partner unit distributions	$	410		$	401		$	584		$	579		$	534		$	494		$	681
Ratio of earnings to fixed charges and preferred limited partner unit distributions		—			—			—			1.1			1.2			1.6			—
Deficiency of earnings to fixed charges and preferred limited partner unit distributions	$	142		$	12		$	21			—			—			—		$	1