EX-12.1 2 ex12_1.htm EXHIBIT 12.1 ex12_1.htm
Exhibit 12.1


Hersha Hospitality Trust
  
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends
  
(dollars in thousands)
  
                               
   
Year Ended December 31,
  
   
2010
    
2009
    
2008
    
2007
    
2006
  
Earnings
                              
Pre-tax (loss) income from continuing operations before income (loss) from equity investees
   $ (19,930 )   $ (53,576 )   $ (13,004 )   $ 11,911     $ 2,438  
Interest expensed and amortized premiums, discounts and capitalized expenses related to indebtedness
     45,868       45,183       43,306       41,980       24,183  
Distributed income of equity investees
     -       400       3,036       4,501       4,578  
    $ 25,938     $ (7,993 )   $ 33,338     $ 58,392     $ 31,199  
                                         
Combined Fixed Charges and Preferred Share Dividends
                                        
Interest expensed and amortized premiums, discounts and capitalized expenses related to indebtedness
   $ 45,868     $ 45,183     $ 43,306     $ 41,980     $ 24,183  
Interest capitalized
     46       10       544       389       -  
Preferred share distributions
     4,800       4,800       4,800       4,800       4,800  
    $ 50,714     $ 49,993     $ 48,650     $ 47,169     $ 28,983  
                                         
Ratio of earnings to combined fixed charges and preferred share dividends
     *       *       *       1.24       1.08  

*     For the year ended December 31, 2010, combined fixed charges and preferred share dividends exceeded earnings by approximately $24,776.  For the year ended December 31, 2009, combined fixed charges and preferred share dividends exceeded earnings by approximately $42,000.  For the year ended December 31, 2008, combined fixed charges and preferred share dividends exceeded earnings by approximately $15,312.