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                                                                  Exhibit 11.1

                          FIVE STAR QUALITY CARE, INC.
                STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
                (amounts in thousands, except per share amounts)


<Table>
<Caption>
                                           Nine Months Ended              For the Year Ended
                                           September 30, 2001             December 31, 2000
                                           ------------------             ------------------

                                                                     
Net loss .................................     $  (760)                     $  (1,316)
                                               =======                      ==========
Weighted average
  shares outstanding(1) ..................       4,617                          4,617

Earnings per share .......................     $ (0.17)                     $   (0.29)
                                               =======                      ==========
</Table>

(1) During the periods Five Star Quality Care, Inc. was a wholly owned
    subsidiary of Senior Housing Properties Trust. The weighted average
    shares outstanding assumes completion of the spin-off distribution and
    gives effect to common shares issued as part of Five Star Quality Care,
    Inc.'s acquisition of FSQ, Inc.