Highland Hospitality (HIH) 8-K Other Events

EXHIBIT 12.1

HIGHLAND HOSPITALITY CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands)

	Six Months Ended June 30, 2005		Year Ended December 31, 2004		Period From December 19, 2003 to December 31, 2003
Earnings:
Income (loss) before income taxes and minority interest in operating partnership	$	4,174	$	3,298	$	(3,014	)
Interest expense		11,217		8,413		—
Portion of rental expense representing interest		240		261		—
Total earnings	$	15,631	$	11,972	$	(3,014	)
Fixed charges:
Interest expense (including capitalized interest)	$	11,471	$	8,413		—
Portion of rental expense representing interest		240		261		—
Total fixed charges		11,711		8,674		—
Preferred stock dividend requirements		—		—		—
Total fixed charges and preferred stock dividend requirements	$	11,711	$	8,674		—
Ratio of earnings to combined fixed charges and preferred stock dividend requirements		1.3		1.4		(a	)

(a) the Company did not have interest expense for the period from December 19, 2003 (date of initial public offering and commencement of operations) through December 31, 2003.