Host Hotels & Resorts (HST) 10-Q 2009 Q3 Quarterly report

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in millions, except ratio amounts)

	Year-to-date ended
	September 11, 2009			September 5, 2008
Income (loss) from continuing operations before income taxes	$	(213	)	$	278
Add (deduct):
Fixed charges		313			312
Capitalized interest		(6	)		(8	)
Amortization of capitalized interest		4			4
Equity in (earnings)/losses related to certain 50% or less owned affiliates		36			(3	)
Distributions from equity investments		1			3
Dividends on preferred stock		(6	)		(6	)
Adjusted earnings	$	129		$	580
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	264		$	262
Capitalized interest		6			8
Dividends on preferred stock		6			6
Portion of rents representative of the interest factor		37			36
Total fixed charges and preferred stock dividends	$	313		$	312
Ratio of earning to fixed charges and preferred stock dividends		—			1.9
Deficiency of earnings to fixed charges and preferred stock dividends	$	(184	)	$	—

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