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)



|                                                                                         |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|---------------------------------------------------------------------------------------- |  | ---- | ---- | - | ---- | - | --- | ---- |  | - | ---- | - |  | ---- | --- | - |  | - | --- | -
|                                                                                         |  | 2003 |      |   | 2002 |   |     | 2001 |  |   | 2000 |   |  | 1999 |    
|Income (loss) from operations before income taxes                                        |  | $    | (237 | ) |      | $ | (53 | )    |  | $ | 61   |   |  | $    | 77  |   |  | $ | 235 |  
|Add (deduct):                                                                            |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|Fixed charges                                                                            |  |      | 610  |   |      |   | 582 |      |  |   | 574  |   |  |      | 530 |   |  |   | 501 |  
|Capitalized interest                                                                     |  |      | (2   | ) |      |   | (2  | )    |  |   | (8   | ) |  |      | (8  | ) |  |   | (7  | )
|Amortization of capitalized interest                                                     |  |      | 6    |   |      |   | 6   |      |  |   | 7    |   |  |      | 6   |   |  |   | 6   |  
|Minority interest in consolidated affiliates                                             |  |      | 4    |   |      |   | 8   |      |  |   | 23   |   |  |      | 26  |   |  |   | 20  |  
|Net (gains) losses related to certain 50% or less owned affiliates                       |  |      | 22   |   |      |   | 9   |      |  |   | (3   | ) |  |      | (27 | ) |  |   | (7  | )
|Distributions from equity investments                                                    |  |      | 3    |   |      |   | 6   |      |  |   | 9    |   |  |      | 1   |   |  |   | 1   |  
|Distributions on preferred limited partner units                                         |  |      | (37  | ) |      |   | (37 | )    |  |   | (32  | ) |  |      | (20 | ) |  |   | (6  | )
|                                                                                         |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|Adjusted earnings                                                                        |  | $    | 369  |   |      | $ | 519 |      |  | $ | 631  |   |  | $    | 585 |   |  | $ | 743 |  
|                                                                                         |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|Fixed charges:                                                                           |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|Interest on indebtedness and amortization of deferred financing costs                    |  | $    | 524  |   |      | $ | 496 |      |  | $ | 488  |   |  | $    | 455 |   |  | $ | 443 |  
|Capitalized interest                                                                     |  |      | 2    |   |      |   | 2   |      |  |   | 8    |   |  |      | 8   |   |  |   | 7   |  
|Distributions on preferred limited partner units                                         |  |      | 37   |   |      |   | 37  |      |  |   | 32   |   |  |      | 20  |   |  |   | 6   |  
|Portion of rents representative of the interest factor                                   |  |      | 47   |   |      |   | 47  |      |  |   | 46   |   |  |      | 47  |   |  |   | 45  |  
|                                                                                         |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|Total fixed charges and preferred limited partner unit distributions                     |  | $    | 610  |   |      | $ | 582 |      |  | $ | 574  |   |  | $    | 530 |   |  | $ | 501 |  
|                                                                                         |  |      |      |   |      |   |     |      |  |   |      |   |  |      |     |   |  |   |     |  
|Ratio of earnings to fixed charges and preferred limited partner unit distributions      |  |      |     |   |      |   |    |      |  |   | 1.1  |   |  |      | 1.1 |   |  |   | 1.5 |  
|Deficiency of earnings to fixed charges and preferred limited partner unit distributions |  | $    | (241 | ) |      | $ | (63 | )    |  |   |     |   |  |      |    |   |  |   |    |