EXHIBIT 12.1

STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
CALCULATION OF RATIO OF EARNINGS TO TOTAL FIXED CHARGES
(Dollars in Millions)

	Year Ended December 31,
	2004			2003			2002		2001			2000
Earnings:
Income (loss) from continuing operations		369			105			251		147			397
Add:
Adjustment for distributions in excess of equity earnings and losses (a)		(9	)		37			3		(13	)		(14	)
Provision for income taxes		43			(113	)		2		42			201
Minority equity in net income		—			(3	)		2		3			8
Amortization of interest capitalized		1			1			1		1			1
		404			27			259		180			593
Fixed Charges:
Interest and other financial charges		275			305			356		403			460
Interest factor attributable to rentals (b)		28			26			26		25			21
		303			331			382		428			481
Earnings, as adjusted, from continuing operations		707			358			641		608			1,074
Fixed Charges:
Fixed charges above		303			331			382		428			481
Interest capitalized		18			14			10		11			6
Total fixed charges		321			345			392		439			487
Ratio:
Earnings, as adjusted, from continuing operations to fixed charges		2.20			1.04			1.64		1.38			2.21

Notes:

(a) The adjustment represents distributions in excess of undistributed earnings and losses of companies in which at least 20% but less than 50% equity is owned.

(b) The interest factor attributable to rentals consists of one-third of rental charges, which is deemed by Starwood to be representative of the interest factor inherent in rents.

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