Exhibit 12.1
HIGHLAND HOSPITALITY CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(in thousands)
| | | | | | | | | | |
| | | Year Ended
December 31, | | Period From
December 19, 2003 to December 31, 2003 | |
| | | 2005 | | 2004 | |
Earnings: | | | | | | | | | | |
Income (loss) before income taxes and minority interest in operating partnership | | $ | 10,050 | | $ | 3,298 | | $ | (3,014 | ) |
Interest expense (including amortization of capitalized interest) | | | 25,055 | | | 8,413 | | | — | |
Portion of rental expense representing interest | | | 662 | | | 261 | | | — | |
| | | | | | | | | | |
Total earnings | | $ | 35,767 | | $ | 11,972 | | $ | (3,014 | ) |
| | | | | | | | | | |
| | | |
Fixed charges: | | | | | | | | | | |
Interest expense (including capitalized interest) | | $ | 25,464 | | $ | 8,413 | | | — | |
Portion of rental expense representing interest | | | 662 | | | 261 | | | — | |
| | | | | | | | | | |
Total fixed charges | | | 26,126 | | | 8,674 | | | — | |
Preferred stock dividends | | | 1,627 | | | — | | | — | |
| | | | | | | | | | |
Total fixed charges and preferred stock dividends | | $ | 27,753 | | $ | 8,674 | | | — | |
| | | | | | | | | | |
Ratio of earnings to combined fixed charges and preferred stock dividends | | | 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. |
