EXHIBIT 12



HOST MARRIOTT, L.P. AND SUBSIDIARIES



COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED LIMITED PARTNER UNIT DISTRIBUTIONS

(in millions, except ratio amounts)



|                                                                                         |  | 2002 |     |   | 2001 |   |     | 2000 |  |   | 1999 |   |  | 1998 |    
|---------------------------------------------------------------------------------------- |  | ---- | --- | - | ---- | - | --- | ---- |  | - | ---- | - |  | ---- | ---
|Income (loss) from operations before income taxes                                        |  | $    | (26 | ) |      | $ | 71  |      |  | $ | 107  |   |  | $    | 241
|Add (deduct):                                                                            |  |      |     |   |      |   |     |      |  |   |      |   |  |      |    
|Fixed charges                                                                            |  |      | 584 |   |      |   | 577 |      |  |   | 541  |   |  |      | 527
|Capitalized interest                                                                     |  |      | (2  | ) |      |   | (8  | )    |  |   | (8   | ) |  |      | (7 
|Amortization of capitalized interest                                                     |  |      | 6   |   |      |   | 7   |      |  |   | 6    |   |  |      | 6  
|Minority interest in consolidated affiliates                                             |  |      | 8   |   |      |   | 16  |      |  |   | 27   |   |  |      | 21 
|Net (gains) losses related to certain 50% or less owned affiliate                        |  |      | 9   |   |      |   | (3  | )    |  |   | (27  | ) |  |      | (7 
|Distributions from equity investments                                                    |  |      | 6   |   |      |   | 9   |      |  |   | 1    |   |  |      | 1  
|Distributions on preferred limited partner units                                         |  |      | (35 | ) |      |   | (32 | )    |  |   | (20  | ) |  |      | (6 
|                                                                                         |  |      |     |   |      |   |     |      |  |   |      |   |  |      |    
|Adjusted earnings                                                                        |  | $    | 550 |   |      | $ | 637 |      |  | $ | 627  |   |  | $    | 776
|                                                                                         |  |      |     |   |      |   |     |      |  |   |      |   |  |      |    
|Fixed charges:                                                                           |  |      |     |   |      |   |     |      |  |   |      |   |  |      |    
|Interest on indebtedness and amortization of deferred financing costs                    |  | $    | 500 |   |      | $ | 491 |      |  | $ | 466  |   |  | $    | 469
|Capitalized interest                                                                     |  |      | 2   |   |      |   | 8   |      |  |   | 8    |   |  |      | 7  
|Dividends on convertible preferred securities of subsidiary trust                        |  |      |    |   |      |   |    |      |  |   |     |   |  |      |   
|Distributions on preferred limited partner units                                         |  |      | 35  |   |      |   | 32  |      |  |   | 20   |   |  |      | 6  
|Portion of rents representative of the interest factor                                   |  |      | 47  |   |      |   | 46  |      |  |   | 47   |   |  |      | 45 
|                                                                                         |  |      |     |   |      |   |     |      |  |   |      |   |  |      |    
|Total fixed charges and preferred limited partner unit distributions                     |  | $    | 584 |   |      | $ | 577 |      |  | $ | 541  |   |  | $    | 527
|                                                                                         |  |      |     |   |      |   |     |      |  |   |      |   |  |      |    
|Ratio of earnings to fixed charges and preferred limited partner unit
distributions      |  |      |    |   |      |   | 1.1 |      |  |   | 1.2  |   |  |      | 1.5
|Deficiency of earnings to fixed charges and preferred limited partner unit
distributions |  | $    | (34 | ) |      |   |    |      |  |   |     |   |  |      | 