EXHIBIT 12

HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED
CHARGES

AND PREFERRED LIMITED PARTNER UNIT DISTRIBUTIONS

(in millions, except ratio amounts)



|                                                                         |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|------------------------------------------------------------------------ |  | ---- | ----- | - | ---- | - | --- | ---- |  | - | ---- | - |  | ---- | ---- | - |  | - | ---- | -
|                                                                         |  | 2007 |       |   | 2006 |   |     | 2005 |  |   | 2004 |   |  | 2003 |     
|Income (loss) from operations before income taxes                        |  | $    | 579   |   |      | $ | 330 |      |  | $ | 146  |   |  | $    | (100 | ) |  | $ | (270 | )
|Add (deduct):                                                            |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Fixed charges                                                            |  |      | 493   |   |      |   | 526 |      |  |   | 526  |   |  |      | 575  |   |  |   | 607  |  
|Capitalized interest                                                     |  |      | (10   | ) |      |   | (5  | )    |  |   | (5   | ) |  |      | (3   | ) |  |   | (2   | )
|Amortization of capitalized interest                                     |  |      | 6     |   |      |   | 6   |      |  |   | 6    |   |  |      | 6    |   |  |   | 6    |  
|Minority interest in consolidated affiliates                             |  |      | 6     |   |      |   | 10  |      |  |   | 7    |   |  |      | 4    |   |  |   | 4    |  
|Net (earnings)/losses related to certain 50% or less owned affiliates    |  |      | (11   | ) |      |   | 6   |      |  |   | 1    |   |  |      | 16   |   |  |   | 22   |  
|Distributions from equity investments                                    |  |      | 4     |   |      |   | 3   |      |  |   | 2    |   |  |      | 6    |   |  |   | 3    |  
|Distributions on preferred units                                         |  |      | (9    | ) |      |   | (14 | )    |  |   | (27  | ) |  |      | (37  | ) |  |   | (37  | )
|Issuance costs of redeemed preferred units                               |  |      |      |   |      |   | (6  | )    |  |   | (4   | ) |  |      | (4   | ) |  |   |     |  
|                                                                         |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Adjusted earnings                                                        |  | $    | 1,058 |   |      | $ | 856 |      |  | $ | 652  |   |  | $    | 463  |   |  | $ | 333  |  
|                                                                         |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Fixed charges:                                                           |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Interest on indebtedness and amortization of deferred financing costs    |  | $    | 422   |   |      | $ | 450 |      |  | $ | 444  |   |  | $    | 484  |   |  | $ | 521  |  
|Capitalized interest                                                     |  |      | 10    |   |      |   | 5   |      |  |   | 5    |   |  |      | 3    |   |  |   | 2    |  
|Distributions on preferred units                                         |  |      | 9     |   |      |   | 14  |      |  |   | 27   |   |  |      | 37   |   |  |   | 37   |  
|Issuance costs of redeemed preferred units                               |  |      |      |   |      |   | 6   |      |  |   | 4    |   |  |      | 4    |   |  |   |     |  
|Portion of rents representative of the interest factor                   |  |      | 52    |   |      |   | 51  |      |  |   | 46   |   |  |      | 47   |   |  |   | 47   |  
|                                                                         |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Total fixed charges and preferred unit distributions                     |  | $    | 493   |   |      | $ | 526 |      |  | $ | 526  |   |  | $    | 575  |   |  | $ | 607  |  
|                                                                         |  |      |       |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Ratio of earnings to fixed charges and preferred unit distributions      |  |      | 2.1   |   |      |   | 1.6 |      |  |   | 1.2  |   |  |      |     |   |  |   |     |  
|Deficiency of earnings to fixed charges and preferred unit distributions |  | $    |      |   |      | $ |    |      |  | $ |     |   |  | $    | (112 | ) |  | $ | (274 | )