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	)			—				—				—				—