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Exhibit 12 BOYKIN LODGING COMPANY
COMPUTATION OF RATIOS
OF EARNINGS TO FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(amounts in thousands, except for ratio amounts) Year Ended December 31,2003
    
    2002
    
    2001
    
    2000
    
    1999Computation of earnings:Income (loss) before gain (loss) on sale/disposal of
assets, discontinued operations and cumulative effect of
change in accounting principle
    
    $
    (3,733
    )
    
    $
    (498
    )
    
    $
    (25,947
    )
    
    $
    9,407
    
    
    $
    15,573Plus: Equity in (income) loss of unconsolidated joint
ventures
    
    
    870
    
    
    
    2,040
    
    
    
    (589
    )
    
    
    (68
    )
    
    
    (23
    )Plus: Minority interest
    
    
    (3,107
    )
    
    
    (533
    )
    
    
    (2,702
    )
    
    
    1,003
    
    
    
    1,406Pretax income from continuing operations before
adjustment for minority interest in consolidated
subsidiaries or income or loss from equity investees:
    
    
    (5,970
    )
    
    
    1,009
    
    
    
    (29,238
    )
    
    
    10,342
    
    
    
    16,956Plus: Fixed charges
    
    
    19,067
    
    
    
    22,102
    
    
    
    22,332
    
    
    
    25,134
    
    
    
    20,643Plus:
Amortization of capitalized interest
    
    
    706
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    Plus: Distributed income of equity investees
    
    
    572
    
    
    
    148
    
    
    
    1,380
    
    
    
    405
    
    
    
    Less:
Capitalized interest
    
    
    (448
    )
    
    
    (74
    )
    
    
    
    
    
    
    
    
    
    
    Less: Minority interest in pre-tax income of subsidiaries that
have not incurred fixed charges
    
    
    1,102
    
    
    
    (133
    )
    
    
    193
    
    
    
    (534
    )
    
    
    (399
    )Earnings and fixed charges:
    
    $
    15,029
    
    
    $
    23,052
    
    
    $
    (5,333
    )
    
    $
    35,347
    
    
    $
    37,200Computation of fixed charges:Consolidated
interest expense and capitalized interest
    
    $
    16,537
    
    
    $
    19,370
    
    
    $
    20,805
    
    
    $
    23,546
    
    
    $
    19,534Consolidated amortization of deferred financing costs
    
    
    1,927
    
    
    
    2,125
    
    
    
    1,149
    
    
    
    1,166
    
    
    
    738Plus: estimated interest element of rentals on
consolidated entities
    
    
    603
    
    
    
    607
    
    
    
    378
    
    
    
    422
    
    
    
    371Fixed charges:
    
    $
    19,067
    
    
    $
    22,102
    
    
    $
    22,332
    
    
    $
    25,134
    
    
    $
    20,643Plus: preferred dividend
    
    
    4,751
    
    
    
    1,109
    
    
    
    
    
    
    
    
    
    
    
    Fixed charges and preferred stock dividends:
    
    $
    23,818
    
    
    $
    23,211
    
    
    $
    22,332
    
    
    $
    25,134
    
    
    $
    20,643Ratio of earnings to fixed charges
    
    
    0.8
    
    
    
    1.0
    
    
    
    (0.2
    )
    
    
    1.4
    
    
    
    1.8Ratio of earnings to fixed charges and preferred stock
dividends
    
    
    0.6
    
    
    
    1.0
    
    
    
    (0.2
    )
    
    
    1.4
    
    
    
    1.8Deficiency
of earnings to fixed charges
    
    $
    4,038
    
    
    $
    
    
    
    $
    27,665
    
    
    $
    
    
    
    $
    Deficiency of earnings to fixed charges and preferred stock dividends
    
    $
    8,789
    
    
    $
    
    
    
    $
    27,665
    
    
    $
    
    
    
    $
    