Exhibit 12
 
WYNDHAM WORLDWIDE CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)
 
                 
    Three Months Ended March 31,  
    2009     2008  
 
Earnings available to cover fixed charges:
               
Income before income taxes
  $ 74     $ 70  
Plus: Fixed charges
    58       60  
 Amortization of capitalized interest
    3       5  
Less: Capitalized interest
    3       4  
                 
Earnings available to cover fixed charges
  $ 132     $ 131  
                 
Fixed charges (*):
               
Interest, including amortization of deferred financing costs
  $ 51     $ 52  
Interest portion of rental expense
    7       8  
                 
Total fixed charges
  $ 58     $ 60  
                 
Ratio of earnings to fixed charges
    2.28x       2.18x  
                 
 
 
(*) Consists of interest expense on all indebtedness (including amortization of deferred financing costs) and the portion of operating lease rental expense that is representative of the interest factor.
 
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