HERSHA HOSPITALITY TRUST - FORM 10-K - EX-12.1 - EXHIBIT 12.1 - March 4, 2010

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10-K - HERSHA HOSPITALITY TRUST 10-K 12-31-2009 - HERSHA HOSPITALITY TRUSTform10k.htm
EX-31.2 - EXHIBIT 31.2 - HERSHA HOSPITALITY TRUSTex31_2.htm
EX-3.1 - EXHIBIT 3.1 - HERSHA HOSPITALITY TRUSTex3_1.htm
EX-21.1 - EXHIBIT 21.1 - HERSHA HOSPITALITY TRUSTex21_1.htm
EX-32.2 - EXHIBIT 32.2 - HERSHA HOSPITALITY TRUSTex32_2.htm
EX-31.1 - EXHIBIT 31.1 - HERSHA HOSPITALITY TRUSTex31_1.htm
EX-23.1 - EXHIBIT 23.1 - HERSHA HOSPITALITY TRUSTex23_1.htm
EX-32.1 - EXHIBIT 32.1 - HERSHA HOSPITALITY TRUSTex32_1.htm
Exhibit 12.1
 
Hersha Hospitality Trust
Computation of Ratio of Earnings to Combined Fixed Charges and Preferred Share Dividends
(dollars in thousands)
 
   
Year Ended December 31,
  
   
2009
    
2008
    
2007
    
2006
    
2005
  
Earnings
                              
Pre-tax (loss) income from continuing operations before income (loss) from equity investees
   $ (35,231 )   $ (13,655 )   $ 11,080     $ 1,891     $ 3,227  
Interest expensed and amortized premiums, discounts and capitalized expenses related to indebtedness
     43,359       41,218       40,237       23,500       10,687  
Distributed income of equity investees
     400       3,036       4,501       4,578       838  
    $ 8,528     $ 30,599     $ 55,818     $ 29,969     $ 14,752  
                                         
Combined Fixed Charges and Preferred Share Dividends
                                        
Interest expensed and amortized premiums, discounts and capitalized expenses related to indebtedness
   $ 43,359     $ 41,218     $ 40,237     $ 23,500     $ 10,687  
Interest capitalized
     10       544       389       -       -  
Preferred share distributions
     4,800       4,800       4,800       4,800       1,920  
    $ 48,169     $ 46,562     $ 45,426     $ 28,300     $ 12,607  
                                         
Ratio of earnings to combined fixed charges and preferred share dividends
     *       *       1.23 x     1.06 x     1.17 x

*     For the year ended December 31, 2009, combined fixed charges and preferred share dividends exceeded earnings by approximately $39,641.  For the year ended December 31, 2008, combined fixed charges and preferred share dividends exceeded earnings by approximately $15,963.
 
 

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