EXHIBIT 12

HOST MARRIOTT CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

AND PREFERRED STOCK DIVIDENDS

(in millions, except ratio amounts)

	2004			2003			2002			2001			2000
Income (loss) from operations before income taxes	$	(74	)	$	(251	)	$	(67	)	$	15		$	(4	)
Add (deduct):
Fixed charges		574			606			576			569			539
Capitalized interest		(3	)		(2	)		(2	)		(8	)		(8	)
Amortization of capitalized interest		6			6			6			7			6
Minority interest in consolidated affiliates		4			5			7			23			72
Net (gains) losses related to certain 50% or less owned affiliates		16			22			9			(3	)		(27	)
Distributions from equity investments		6			3			6			9			1
Dividends on preferred stock		(37	)		(37	)		(37	)		(32	)		(20	)
Issuance costs of redeemed Class A		(4	)		—			—			—			—
Adjusted earnings	$	488		$	352		$	498		$	580		$	559
Fixed charges:
Interest on indebtedness and amortization of deferred financing costs	$	483		$	488		$	458		$	451		$	432
Capitalized interest		3			2			2			8			8
Dividends on convertible preferred securities of subsidiary trust		—			32			32			32			32
Dividends on preferred stock		37			37			37			32			20
Issuance costs of redeemed Class A		4			—			—			—			—
Portion of rents representative of the interest factor		47			47			47			46			47
Total fixed charges and preferred stock dividends	$	574		$	606		$	576		$	569		$	539
Ratio of earnings to fixed charges and preferred stock dividends		—			—			—			1.0			1.0
Deficiency of earnings to fixed charges and preferred stock dividends	$	(86	)	$	(254	)	$	(78	)		—			—