Exhibit 12.1

HIGHLAND HOSPITALITY CORPORATION

COMPUTATION OF RATIO OF EARNINGS TO COMBINED

FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(in thousands)



|                                                                                 |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|-------------------------------------------------------------------------------- |  | -------------------------------- | ------ | --------------------------- | - | --------------------------- |  | ------------------------------------------------ | ------ |  | - | ------ | -
|                                                                                 |  | Three Months EndedMarch 31, 2006 |        | Year EndedDecember 31, 2005 |   | Year EndedDecember 31, 2004 |  | Period FromDecember 19, 2003 toDecember 31, 2003 |       
|Earnings:                                                                        |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Income (loss) before income taxes and minority interest in operating partnership |  | $                                | 4,298  |                             | $ | 10,050                      |  | $                                                | 3,298  |  | $ | (3,014 | )
|Interest expense (including amortization of capitalized interest)                |  |                                  | 8,276  |                             |   | 25,055                      |  |                                                  | 8,413  |  |   |       |  
|Portion of rental expense representing interest                                  |  |                                  | 260    |                             |   | 662                         |  |                                                  | 261    |  |   |       |  
|                                                                                 |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Total earnings                                                                   |  | $                                | 12,834 |                             | $ | 35,767                      |  | $                                                | 11,972 |  | $ | (3,014 | )
|                                                                                 |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Fixed charges:                                                                   |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Interest expense (including capitalized interest)                                |  | $                                | 8,471  |                             | $ | 25,464                      |  | $                                                | 8,413  |  |   |       |  
|Portion of rental expense representing interest                                  |  |                                  | 260    |                             |   | 662                         |  |                                                  | 261    |  |   |       |  
|                                                                                 |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Total fixed charges                                                              |  |                                  | 8,731  |                             |   | 26,126                      |  |                                                  | 8,674  |  |   |       |  
|Preferred stock dividends                                                        |  |                                  | 1,575  |                             |   | 1,627                       |  |                                                  |       |  |   |       |  
|                                                                                 |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Total fixed charges and preferred stock dividends                                |  | $                                | 10,306 |                             | $ | 27,753                      |  | $                                                | 8,674  |  |   |       |  
|                                                                                 |  |                                  |        |                             |   |                             |  |                                                  |        |  |   |        |  
|Ratio of earnings to combined fixed charges and preferred stock dividends        |  |                                  | 1.2    |                             |   | 1.3                         |  |                                                  | 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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