EXHIBIT 12
LA QUINTA INNS, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
Years Ended December 31,
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1996 1995 1994 1993 1992
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Earnings (loss) before income taxes,
extraordinary items and cumulative
effect of accounting change (1). . . . . . $ 96,379 $ 82,994 $ 61,991 $ 31,836 $ (7,270)
Partners' equity in earnings. . . . . . . . 1,499 10,227 11,406 12,965 15,081
Partners' equity in earnings of combined
unincorporated ventures that do not
have fixed charges . . . . . . . . . . . . (770) (1,854) (1,577) (1,652) (1,504)
Fixed charges . . . . . . . . . . . . . . . 48,983 42,797 40,814 32,477 34,270
Interest capitalized. . . . . . . . . . . . (5,429) (1,313) (889) -- (50)
Amortization of capitalized interest. . . . 893 803 772 799 799
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Earnings as adjusted. . . . . . . . . . . . $ 141,555 $ 133,654 $ 112,517 $ 76,425 $ 41,326
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Fixed charges:
Interest on long-term debt . . . . . . . $ 47,897 $ 41,734 $ 39,749 $ 31,366 $ 33,137
Portion of rental expense allocated
to interest . . . . . . . . . . . . . . 1,086 1,063 1,065 1,111 1,133
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Total fixed charges. . . . . . . . . $ 48,983 $ 42,797 $ 40,814 $ 32,477 $ 34,270
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Ratio of earnings to fixed charges . . . . 2.9x 3.1x 2.8x 2.4x 1.2x
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(1) The Years Ended December 31, 1996 and 1995 include a non-cash provision
for premature retirement of assets totaling $18,076 and $12,630,
respectively.