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                                                                    EXHIBIT 12.1

                          HOSPITALITY PROPERTIES TRUST
                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                      (IN THOUSANDS, EXCEPT RATIO AMOUNTS)

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<Caption>
                                                                              Year Ended December 31,
                                                     ------------------------------------------------------------------------
                                                         2002           2001           2000           1999           1998
                                                     ------------   ------------   ------------   ------------   ------------
                                                                                                  
Net income Before Extraordinary Item                 $    143,802   $    131,956   $    126,271   $    111,929   $     87,982
Fixed Charges                                              42,424         41,312         37,682         37,352         21,751
                                                     ------------   ------------   ------------   ------------   ------------
Adjusted Earnings                                    $    186,226   $    173,268   $    163,953   $    149,281   $    109,733

Fixed Charges:
    Interest on indebtedness and amortization of
    deferred finance costs                           $     42,424   $     41,312   $     37,682   $     37,352   $     21,751

Ratio of Earnings to Fixed Charges                           4.39x          4.19x          4.35x          4.00x          5.04x
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