Exhibit 12.1
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LaSalle Hotel Properties
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Computation of Ratio of Earnings to Combined Fixed Charges and Preferred
Stock Dividends
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(Dollars in Thousands)(Unaudited)
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For the year ended December 31,
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2002 2001 2000 1999 1998
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(C) (B) (B) (B) (A)
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Net income (loss) applicable $ (3,939) $ 3,835 $ 5,351 $ 13,989 $12,233
to common shareholders
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Minority Interest 104 103 488 2,706 2,567
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Writedown of properties held - 1,872 12,296 2,000 -
for sale
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Extraordinary loss - 973 - - -
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Fixed Charges (excluding 23,743 21,005 21,052 16,181 8,474
interest capitalized)
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Earnings $ 19,908 $ 27,788 $ 39,187 $ 34,876 $ 23,274
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Fixed Charges
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Interest expense 15,333 21,005 21,052 16,181 8,474
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Interest capitalized 1,031 782 699 174 57
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Preferred stock dividend 8,410 - - - -
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Total fixed charges and $ 24,774 $ 21,787 $ 21,751 $ 16,355 $ 8,531
preferred stock dividends
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Ratio of earnings to fixed charges
and preferred
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stock dividends 0.8 1.3 1.8 2.1 2.7
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(A) The Company was organized on January 15, 1998 and commenced operations
on April 29, 1998.
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(B) The Company did not have any preferred stock outstanding prior to March
2002.
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(C) The Company completed an underwritten public offering of preferred
stock on March 6, 2002.
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