EXHIBIT 12

HOST HOTELS & RESORTS, L.P. AND SUBSIDIARIES

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

AND PREFERRED UNIT DISTRIBUTIONS

(in millions, except ratio amounts)

	2009			2008			2007			2006			2005
Income (loss) from operations before income taxes	$	(236	)	$	380		$	536		$	310		$	135
Add (deduct):
Fixed charges		441			447			515			536			535
Capitalized interest		(5	)		(10	)		(10	)		(5	)		(5	)
Amortization of capitalized interest		6			6			6			6			6
Equity in (earnings)/losses related to certain 50% or less owned affiliates		32			10			(11	)		6			1
Distributions from equity investments		1			3			4			3			2
Distributions on preferred units		(9	)		(9	)		(9	)		(14	)		(27	)
Issuance costs of redeemed preferred units		—			—			—			(6	)		(4	)
Adjusted earnings	$	230		$	827		$	1,031		$	836		$	643
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	379		$	375		$	444		$	460		$	453
Capitalized interest		5			10			10			5			5
Distributions on preferred units		9			9			9			14			27
Issuance costs of redeemed preferred units		—			—			—			6			4
Portion of rents representative of the interest factor		48			53			52			51			46
Total fixed charges and preferred unit distributions	$	441		$	447		$	515		$	536		$	535
Ratio of earnings to fixed charges and preferred unit distributions		—			1.9			2.0			1.6			1.2
Deficiency of earnings to fixed charges and preferred unit distributions	$	(211	)	$	—		$	—		$	—		$	—

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