Exhibit 12.1

HIGHLAND HOSPITALITY CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands, except ratio amounts)



|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|----------------------------------------------------------------------------------------------------------- |  | ----------------------------------- | ------ | --------------------------- | - | --------------------------- |  | ------------------------------------------------ | ------ |  | - | ------ | -
|                                                                                                            |  | Nine Months EndedSeptember 30, 2006 |        | Year EndedDecember 31, 2005 |   | Year EndedDecember 31, 2004 |  | Period FromDecember 19, 2003 toDecember 31, 2003 |       
|Earnings:                                                                                                   |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Income (loss) from continuing operations before income taxes and minority interest in operating partnership |  | $                                   | 17,117 |                             | $ | 9,138                       |  | $                                                | 3,270  |  | $ | (3,014 | )
|Interest expense (including amortization of capitalized interest)                                           |  |                                     | 28,363 |                             |   | 25,055                      |  |                                                  | 8,413  |  |   |       |  
|Portion of rental expense representing interest                                                             |  |                                     | 855    |                             |   | 662                         |  |                                                  | 261    |  |   |       |  
|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Total earnings                                                                                              |  | $                                   | 46,335 |                             | $ | 34,855                      |  | $                                                | 11,944 |  | $ | (3,014 | )
|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Fixed charges:                                                                                              |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Interest expense (including capitalized interest)                                                           |  | $                                   | 28,967 |                             | $ | 25,464                      |  | $                                                | 8,413  |  |   |       |  
|Portion of rental expense representing interest                                                             |  |                                     | 855    |                             |   | 662                         |  |                                                  | 261    |  |   |       |  
|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Total fixed charges                                                                                         |  |                                     | 29,822 |                             |   | 26,126                      |  |                                                  | 8,674  |  |   |       |  
|Preferred stock dividends                                                                                   |  |                                     | 4,725  |                             |   | 1,627                       |  |                                                  |       |  |   |       |  
|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Total fixed charges and preferred stock dividends                                                           |  | $                                   | 34,547 |                             | $ | 27,753                      |  | $                                                | 8,674  |  |   |       |  
|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Ratio of earnings to combined fixed charges and preferred stock dividends                                   |  |                                     | 1.3    |                             |   | 1.3                         |  |                                                  | 1.4    |  |   | (a     | )
|                                                                                                            |  |                                     |        |                             |   |                             |  |                                                  |        |  |   |        |  



|(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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