EXHIBIT 12

HILTON HOTELS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

|                                                                               |                                                  | YEARS ENDED DECEMBER 31, |    
|------------------------------------------------------------------------------ | ------------------------------------------------ | ------------------------ | ---
|
|
|Income from continuing operations before income taxes and minority interest(1) |                                                  | $                        | 311
|Add:                                                                           |                                                  |                          |    
|                                                                               | Interest expense(1)                              |                          |    
|                                                                               | Distributions from less than 50% owned companies |                          |    
|                                                                               | Interest component of rent expense(1)(2)         |                          |    
|                                                                               |                                                  |                          |    
|Earnings available for fixed charges                                           |                                                  | $                        | 559
|                                                                               |                                                  |                          |    
|Fixed charges:                                                                 |                                                  |                          |    
|                                                                               | Interest expense(1)                              |                          | $  
|                                                                               | Capitalized interest                             |                          |    
|                                                                               | Interest component of rent expense(1)(2)         |                          |    
|                                                                               |                                                  |                          |    
|Total fixed charges                                                            |                                                  | $                        | 248
|                                                                               |                                                  |                          |    
|Ratio of earnings to fixed charges                                             |                                                  |                          | 2.3
|                                                                               |                                                  |                          |    

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