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EXHIBIT 12.1
CANDLEWOOD HOTEL COMPANY, INC. AND SUBSIDIARIES
STATEMENTS REGARDING COMPUTATION OF RATIO OF EARNINGS TO COMBINED
FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(IN THOUSANDS, EXCEPT RATIOS)
Ended Year Ended Year Ended Year Ended Year Ended Year
December 31, December 31, December 31, December 31, December 31,
2000 1999 1998 1997 19996
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EARNINGS
Income (loss) before preferred stock
dividends $ 5,687 $ (2,791) $ (6,287) $ (817) $ (1,353)
Interest incurred 21,602 15,290 7,964 3,271 175
Amortization of deferred 2,085 1,701 473 112 --
financing costs
Rent expense on leased hotels 25,056 24,821 12,365 79 --
-------- -------- -------- -------- --------
Total earnings $ 54,430 $ 39,021 $ 14,515 $ 2,645 $ (1,178)
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FIXED CHARGES
Interest incurred $ 21,602 $ 15,290 $ 7,964 $ 3,271 $ 175
Amortization of deferred 2,085 1,701 473 112 --
financing costs
Rent expense on leased hotels 25,056 24,821 12,365 79 --
Preferred stock dividends 8,025 8,025 6,338 1,248 --
-------- -------- -------- -------- --------
Total fixed charges $ 56,768 $ 49,837 $ 27,140 $ 4,710 $ 175
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Ratio of earnings to combined fixed
charges and preferred stock dividends -- -- -- -- --
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Excess (deficit) of earnings to combined
fixed charges and preferred stock dividends $ (2,338) $(10,816) $(12,625) $ (2,065) $ (1,353)
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