EXHIBIT 12.1
PEBBLEBROOK HOTEL TRUST
RATIO OF EARNINGS TO FIXED CHARGES
RATIO OF EARNINGS TO FIXED CHARGES
For the period | ||||||||
October 2, | ||||||||
2009 | ||||||||
Year Ended | (inception) through | |||||||
December 31, 2010 | December 31, 2009 | |||||||
(In thousands) | ||||||||
Earnings | ||||||||
Add: | ||||||||
Pre-tax loss from continuing operating before adjusment for income or loss from equity investees | $ | (6,722 | ) | $ | (147 | ) | ||
Fixed charges | 1,688 | — | ||||||
Amortization of capitalized interest | — | — | ||||||
Distributed income of equity investees | — | — | ||||||
Company share of pre-tax losses of equity investees for which charges arising from guarantees are included in fixed charges | — | — | ||||||
Total added Items: | (5,034 | ) | (147 | ) | ||||
Subtract: | ||||||||
Interest capitalized | — | — | ||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | ||||||
Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges | — | — | ||||||
Total Earnings | $ | (5,034 | ) | $ | (147 | ) | ||
Fixed Charges | ||||||||
Add: | ||||||||
Interest expensed | $ | 1,225 | $ | — | ||||
Interest capitalized | — | — | ||||||
Amortized premiums, discounts and capitalized expenses related to indebtedness | 415 | — | ||||||
Estimate of the interest within rental expense | 48 | — | ||||||
Preference security dividend requirements of consolidated subsidiaries | — | — | ||||||
Total Fixed Charges | $ | 1,688 | $ | — | ||||
Ratio of Earnings to Fixed Charges | — | — |