Exhibit 12.1



HIGHLAND HOSPITALITY CORPORATION



COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands)





|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  
|-------------------------------------------------------------------------------- |  | ----------------------------------- | ------ | --------------------------- | - | ------------------------------------------------ |  | - | ------ | -
|                                                                                 |  | Nine Months EndedSeptember 30, 2005 |        | Year EndedDecember 31, 2004 |   | Period FromDecember 19, 2003 toDecember 31, 2003 | 
|Earnings:                                                                        |  |                                     |        |                             |   |                                                  |  |   |        |  
|Income (loss) before income taxes and minority interest in operating partnership |  | $                                   | 4,570  |                             | $ | 3,298                                            |  | $ | (3,014 | )
|Interest expense (including amortization of capitalized interest)                |  |                                     | 17,806 |                             |   | 8,413                                            |  |   |       |  
|Portion of rental expense representing interest                                  |  |                                     | 427    |                             |   | 261                                              |  |   |       |  
|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  
|Total earnings                                                                   |  | $                                   | 22,803 |                             | $ | 11,972                                           |  | $ | (3,014 | )
|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  
|Fixed charges:                                                                   |  |                                     |        |                             |   |                                                  |  |   |        |  
|Interest expense (including capitalized interest)                                |  | $                                   | 18,105 |                             | $ | 8,413                                            |  |   |       |  
|Portion of rental expense representing interest                                  |  |                                     | 427    |                             |   | 261                                              |  |   |       |  
|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  
|Total fixed charges                                                              |  |                                     | 18,532 |                             |   | 8,674                                            |  |   |       |  
|Preferred stock dividends                                                        |  |                                     | 49     |                             |   |                                                 |  |   |       |  
|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  
|Total fixed charges and preferred stock dividends                                |  | $                                   | 18,581 |                             | $ | 8,674                                            |  |   |       |  
|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  
|Ratio of earnings to combined fixed charges and preferred stock dividends        |  |                                     | 1.2    |                             |   | 1.4                                              |  |   | (a     | )
|                                                                                 |  |                                     |        |                             |   |                                                  |  |   |        |  

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|(a) | the Company did not have interest expense for the period from December 19, 2003 (date of initial public offering and commencement of operations) through December 31, 2003.
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