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)



|                                                                                         |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|---------------------------------------------------------------------------------------- |  | ---- | --- | - | ---- | - | ---- | ---- |  | - | ---- | - |  | ---- | ---- | - |  | - | ---- | -
|                                                                                         |  | 2004 |     |   | 2003 |   |      | 2002 |  |   | 2001 |   |  | 2000 |     
|Income (loss) from operations before income taxes                                        |  | $    | (75 | ) |      | $ | (251 | )    |  | $ | (70  | ) |  | $    | 20   |   |  | $ | 22   |  
|Add (deduct):                                                                            |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|Fixed charges                                                                            |  |      | 575 |   |      |   | 612  |      |  |   | 583  |   |  |      | 577  |   |  |   | 545  |  
|Capitalized interest                                                                     |  |      | (3  | ) |      |   | (2   | )    |  |   | (2   | ) |  |      | (8   | ) |  |   | (8   | )
|Amortization of capitalized interest                                                     |  |      | 6   |   |      |   | 6    |      |  |   | 6    |   |  |      | 7    |   |  |   | 6    |  
|Minority interest in consolidated affiliates                                             |  |      | 4   |   |      |   | 4    |      |  |   | 8    |   |  |      | 15   |   |  |   | 29   |  
|Net (gains) losses related to certain 50% or less owned affiliates                       |  |      | 17  |   |      |   | 22   |      |  |   | 9    |   |  |      | (3   | ) |  |   | (27  | )
|Distributions from equity investments                                                    |  |      | 6   |   |      |   | 3    |      |  |   | 6    |   |  |      | 9    |   |  |   | 1    |  
|Distributions on preferred limited partner units                                         |  |      | (37 | ) |      |   | (37  | )    |  |   | (37  | ) |  |      | (32  | ) |  |   | (20  | )
|Issuance costs of redeemed Class A preferred units                                       |  |      | (4  | ) |      |   |     |      |  |   |     |   |  |      |     |   |  |   |     |  
|                                                                                         |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|Adjusted earnings                                                                        |  | $    | 489 |   |      | $ | 357  |      |  | $ | 503  |   |  | $    | 585  |   |  | $ | 548  |  
|                                                                                         |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|Fixed charges:                                                                           |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|Interest on indebtedness and amortization of deferred financing costs                    |  | $    | 484 |   |      | $ | 526  |      |  | $ | 497  |   |  | $    | 491  |   |  | $ | 470  |  
|Capitalized interest                                                                     |  |      | 3   |   |      |   | 2    |      |  |   | 2    |   |  |      | 8    |   |  |   | 8    |  
|Distributions on preferred limited partner units                                         |  |      | 37  |   |      |   | 37   |      |  |   | 37   |   |  |      | 32   |   |  |   | 20   |  
|Issuance costs of redeemed Class A preferred units                                       |  |      | 4   |   |      |   |     |      |  |   |     |   |  |      |     |   |  |   |     |  
|Portion of rents representative of the interest factor                                   |  |      | 47  |   |      |   | 47   |      |  |   | 47   |   |  |      | 46   |   |  |   | 47   |  
|                                                                                         |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|Total fixed charges and preferred limited partner unit distributions                     |  | $    | 575 |   |      | $ | 612  |      |  | $ | 583  |   |  | $    | 577  |   |  | $ | 545  |  
|                                                                                         |  |      |     |   |      |   |      |      |  |   |      |   |  |      |      |   |  |   |      |  
|Ratio of earnings to fixed charges and preferred limited partner unit distributions      |  |      |    |   |      |   |     |      |  |   |     |   |  |      | 1.01 |   |  |   | 1.01 |  
|Deficiency of earnings to fixed charges and preferred limited partner unit distributions |  | $    | (86 | ) |      | $ | (255 | )    |  | $ | (80  | ) |  |      |     |   |  |   |     |