HTS-San Antonio, L.L.C. S-4 Registration of securities issued in business combination transactions

Exhibit 12.1

INTERVAL LEISURE GROUP, INC. AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(In thousands, except for ratios)

(Unaudited)

	Years Ended December 31,
	2015		2014		2013		2012		2011
Earnings before income taxes and noncontrolling interest	116,335		126,999		127,194		64,961		66,052
Less: equity earnings of unconsolidated entities	(4,916	)	(4,630	)	—		—		—
Less: capitalized interest expense	(366	)	(195	)	(48	)	(140	)	(142	)
Less: noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges	(1,933	)	(3,018	)	(565	)	(7	)	—
Fixed charges:
Interest expense	21,767		7,344		6,220		25,769		35,717
Interest portion of rental expense	2,411		2,549		2,222		2,155		1,914
Earnings	133,298		129,049		135,023		92,738		103,541
Interest expense	21,767		7,344		6,220		25,769		35,717
Interest portion of rental expense(1)	2,411		2,549		2,222		2,155		1,914
Fixed charges	24,178		9,893		8,442		27,924		37,631
Ratio of earnings to fixed charges	5.5		13.0		16.0		3.3		2.8

(1)The ratio of earnings to fixed charges has been calculated by dividing ILG and its consolidated subsidiaries’ (1) earnings by (2) fixed charges. Earnings consists of earnings before income taxes and noncontrolling interests, plus fixed charges, less capitalized interest expense. Fixed charges consist of interest expense and a portion of rental expense that management believes is representative of the interest component of rental expense.