EXHIBIT 12
ASHFORD HOSPITALITY PRIME, INC. AND SUBSIDIARIES
STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in thousands)
| Year Ended December 31, | ||||||||||||||||||||
| 2017 | 2016 | 2015 | 2014 | 2013 | ||||||||||||||||
| Earnings | ||||||||||||||||||||
| Income (loss) from continuing operations before provision for income taxes and noncontrolling interests | $ | 27,802 | $ | 25,894 | $ | (4,428 | ) | $ | 4,635 | $ | (15,585 | ) | ||||||||
| Amount recorded for equity in (earnings) loss of unconsolidated entity | — | 2,587 | 2,927 | — | — | |||||||||||||||
| Add: | ||||||||||||||||||||
| Interest on indebtedness | 34,034 | 37,712 | 35,254 | 37,203 | 32,266 | |||||||||||||||
| Amortization of loan costs | 4,903 | 3,169 | 2,575 | 1,828 | 745 | |||||||||||||||
| Interest component of operating leases | 442 | 431 | 353 | 264 | 227 | |||||||||||||||
| $ | 67,181 | $ | 69,793 | $ | 36,681 | $ | 43,930 | $ | 17,653 | |||||||||||
| Fixed charges | ||||||||||||||||||||
| Interest on indebtedness | $ | 34,034 | $ | 37,712 | $ | 35,254 | $ | 37,203 | $ | 32,266 | ||||||||||
| Amortization of loan costs | 4,903 | 3,169 | 2,575 | 1,828 | 745 | |||||||||||||||
| Interest component of operating leases | 442 | 431 | 353 | 264 | 227 | |||||||||||||||
| $ | 39,379 | $ | 41,312 | $ | 38,182 | $ | 39,295 | $ | 33,238 | |||||||||||
| Preferred stock dividends | ||||||||||||||||||||
| Series A Preferred Stock | $ | — | $ | — | $ | 1,867 | $ | — | $ | — | ||||||||||
| Series B Preferred Stock | 6,795 | 3,860 | 119 | — | — | |||||||||||||||
| $ | 6,795 | $ | 3,860 | $ | 1,986 | $ | — | $ | — | |||||||||||
| Combined fixed charges and preferred stock dividends | $ | 46,174 | $ | 45,172 | $ | 40,168 | $ | 39,295 | $ | 33,238 | ||||||||||
| Ratio of earnings to fixed charges | 1.71 | 1.69 | 1.12 | |||||||||||||||||
| Ratio of earnings to combined fixed charges and preferred stock dividends | 1.45 | 1.55 | 1.12 | |||||||||||||||||
| Deficit (Fixed charges) | $ | 1,501 | $ | 15,585 | ||||||||||||||||
| Deficit (Combined fixed charges and preferred stock dividends) | $ | 3,487 | $ | 15,585 | ||||||||||||||||