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)



|                                                                            |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|--------------------------------------------------------------------------- |  | ---- | --- | - | ---- | - | --- | ---- |  | - | ---- | - |  | ---- | ---- | - |  | - | ---- | -
|                                                                            |  | 2006 |     |   | 2005 |   |     | 2004 |  |   | 2003 |   |  | 2002 |     
|Income (loss) from operations before income taxes                           |  | $    | 345 |   |      | $ | 157 |      |  | $ | (93  | ) |  | $    | (265 | ) |  | $ | (92  | )
|Add (deduct):                                                               |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Fixed charges                                                               |  |      | 526 |   |      |   | 526 |      |  |   | 575  |   |  |      | 607  |   |  |   | 578  |  
|Capitalized interest                                                        |  |      | (5  | ) |      |   | (5  | )    |  |   | (3   | ) |  |      | (2   | ) |  |   | (2   | )
|Amortization of capitalized interest                                        |  |      | 6   |   |      |   | 6   |      |  |   | 6    |   |  |      | 6    |   |  |   | 6    |  
|Minority interest in consolidated affiliates                                |  |      | 10  |   |      |   | 7   |      |  |   | 4    |   |  |      | 4    |   |  |   | 8    |  
|Net losses related to certain 50% or less owned affiliates                  |  |      | 6   |   |      |   | 1   |      |  |   | 16   |   |  |      | 22   |   |  |   | 9    |  
|Distributions from equity investments                                       |  |      | 3   |   |      |   | 2   |      |  |   | 6    |   |  |      | 3    |   |  |   | 6    |  
|Distributions on preferred OP units                                         |  |      | (14 | ) |      |   | (27 | )    |  |   | (37  | ) |  |      | (37  | ) |  |   | (37  | )
|Issuance costs of redeemed preferred OP units                               |  |      | (6  | ) |      |   | (4  | )    |  |   | (4   | ) |  |      |     |   |  |   |     |  
|                                                                            |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Adjusted earnings                                                           |  | $    | 871 |   |      | $ | 663 |      |  | $ | 470  |   |  | $    | 338  |   |  | $ | 476  |  
|                                                                            |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|                                                                            |  |      |     |   |     
|Fixed charges:                                                              |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Interest on indebtedness and amortization of deferred financing costs       |  | $    | 450 |   |      | $ | 444 |      |  | $ | 484  |   |  | $    | 521  |   |  | $ | 492  |  
|Capitalized interest                                                        |  |      | 5   |   |      |   | 5   |      |  |   | 3    |   |  |      | 2    |   |  |   | 2    |  
|Distributions on preferred units                                            |  |      | 14  |   |      |   | 27  |      |  |   | 37   |   |  |      | 37   |   |  |   | 37   |  
|Issuance costs of redeemed preferred OP units                               |  |      | 6   |   |      |   | 4   |      |  |   | 4    |   |  |      |     |   |  |   |     |  
|Portion of rents representative of the interest factor                      |  |      | 51  |   |      |   | 46  |      |  |   | 47   |   |  |      | 47   |   |  |   | 47   |  
|                                                                            |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Total fixed charges and preferred OP unit distributions                     |  | $    | 526 |   |      | $ | 526 |      |  | $ | 575  |   |  | $    | 607  |   |  | $ | 578  |  
|                                                                            |  |      |     |   |      |   |     |      |  |   |      |   |  |      |      |   |  |   |      |  
|Ratio of earnings to fixed charges and preferred OP unit distributions      |  |      | 1.7 |   |      |   | 1.3 |      |  |   |     |   |  |      |     |   |  |   |     |  
|Deficiency of earnings to fixed charges and preferred OP unit distributions |  | $    |    |   |      | $ |    |      |  | $ | (105 | ) |  | $    | (269 | ) |  | $ | (102 | )