Sunstone Hotel Investors (SHO) 10-K 2005 FY Annual report

Exhibit 12.1

Sunstone Hotel Investors, Inc.

Computation of Ratio of Earnings to Fixed Charges

(numbers in thousands, except ratio amounts)

	Year Ended December 31, 2005		Period October 26, through December 31, 2004			Period January 1, through October 25, 2004		Year Ended December 31,
								2003			2002			2001
Earnings
Earnings from Continuing Operations	$	27,586	$	(20,145	)	$	792	$	(23,365	)	$	(4,877	)	$	(18,066	)
Interest Expense and amortization of deferred financing fees		61,982		19,326			43,400		53,441			27,367			39,386
Total	$	89,568	$	(819	)	$	44,192	$	30,076		$	22,490		$	21,320
Fixed Charges
Interest Expense and amortization of deferred financing fees	$	61,982	$	19,326		$	43,400	$	53,441		$	27,367		$	39,386
Ratio		1.45		(0.04	)		1.02		0.56			0.82			0.54
Deficiency	$	—	$	(20,145	)	$	—	$	(23,365	)	$	(4,877	)	$	(18,066	)