Exhibit 12

HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

AND PREFERRED LIMITED PARTNER UNIT DISTRIBUTIONS

(in millions, except ratio amounts)

	2007			2006			2005			2004			2003
Income (loss) from operations before income taxes	$	576		$	327		$	144		$	(102	)	$	(271	)
Add (deduct):
Fixed charges		493			526			526			575			607
Capitalized interest		(10	)		(5	)		(5	)		(3	)		(2	)
Amortization of capitalized interest		6			6			6			6			6
Minority interest in consolidated affiliates		6			10			7			4			4
Net (earnings)/losses related to certain 50% or less owned affiliates		(11	)		6			1			16			22
Distributions from equity investments		4			3			2			6			3
Distributions on preferred units		(9	)		(14	)		(27	)		(37	)		(37	)
Issuance costs of redeemed preferred units		—			(6	)		(4	)		(4	)		—
Adjusted earnings	$	1,055		$	853		$	650		$	461		$	332
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	422		$	450		$	444		$	484		$	521
Capitalized interest		10			5			5			3			2
Distributions on preferred units		9			14			27			37			37
Issuance costs of redeemed preferred units		—			6			4			4			—
Portion of rents representative of the interest factor		52			51			46			47			47
Total fixed charges and preferred unit distributions	$	493		$	526		$	526		$	575		$	607
Ratio of earnings to fixed charges and preferred unit distributions		2.1			1.6			1.2			—			—
Deficiency of earnings to fixed charges and preferred unit distributions	$	—		$	—		$	—		$	(114	)	$	(275	)