Exhibit 12

ORIENT-EXPRESS HOTELS LTD. AND SUBSIDIARIES        Computation of Ratios of Earnings to Fixed Charges        (Dollars in thousands, except ratios)

|                                                                                                              |  | Year ended December 31,
|------------------------------------------------------------------------------------------------------------- |  | -----------------------
|
|Earnings before income taxes                                                                                  |  | $                      
|Earnings from unconsolidated companies excluding equity in undistributed earnings of unconsolidated companies |  |                        
|Add back dividends received                                                                                   |  |                        
|                                                                                                              |  |                        
|Total earnings before income taxes                                                                            |  | $                      
|                                                                                                              |  |                        
|Fixed charges:                                                                                                |  |                        
|Interest                                                                                                      |  | $                      
|Amortization of finance costs                                                                                 |  |                        
|Interest on guaranteed indebtedness                                                                           |  |                        
|                                                                                                              |  |                        
|Total interest                                                                                                |  |                        
|Interest factor of rent expense                                                                               |  |                        
|                                                                                                              |  |                        
|Total fixed charges                                                                                           |  |                        
|Capitalized interest                                                                                          |  |                        
|                                                                                                              |  |                        
|Fixed charges (excluding capitalized interest)                                                                |  | $                      
|                                                                                                              |  |                        
|Earnings before fixed charges (excluding capitalized interest) and income taxes                               |  | $                      
|                                                                                                              |  |                        
|Ratio of earnings to fixed charges                                                                            |  |                        
|                                                                                                              |  |                        
|Deficiency in earnings to cover fixed charges                                                                 |  | $                      
|                                                                                                              |  |                        

1

---



QuickLinks