EXHIBIT 12

HOST MARRIOTT CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in millions, except ratio amounts)

	2002			2001			2000			1999			1998
Income (loss) from continuing operations before income taxes	$	(23	)	$	66		$	63		$	181		$	175
Add (deduct):
Fixed charges		582			576			540			525			419
Capitalized interest		(2	)		(8	)		(8	)		(7	)		(4	)
Amortization of capitalized interest		6			7			6			6			6
Minority interest in consolidated affiliates		7			23			72			82			52
Net (gains) losses related to certain 50% or less owned affiliates		9			(3	)		(27	)		(7	)		(4	)
Distributions from equity investments		6			9			1			1			2
Dividends on preferred stock		(35	)		(32	)		(20	)		(6	)		—
Adjusted earnings	$	550		$	638		$	627		$	775		$	646
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	466		$	458		$	433		$	430		$	335
Capitalized interest		2			8			8			7			4
Dividends on convertible preferred securities of subsidiary trust		32			32			32			37			37
Dividends on preferred stock		35			32			20			6			—
Portion of rents representative of the interest factor		47			46			47			45			43
Total fixed charges and preferred stock dividends	$	582		$	576		$	540		$	525		$	419
Ratio of earnings to fixed charges and preferred stock dividends		—			1.1			1.2			1.5			1.5
Deficiency of earnings to fixed charges and preferred stock dividends	$	(32	)		—			—			—			—