Exhibit 21.1

CAREY WATERMARK INVESTORS INCORPORATED

LIST OF REGISTRANT SUBSIDIARIES

Name of Subsidiary	Ownership			State or Country of Incorporation
Atlanta Downtown Hotel Operator, Inc.		100	%	Delaware
Atlanta Perimeter Hotel Operator, Inc.		57	%	Delaware
Baton Rouge Hotel Operator, Inc.		100	%	Delaware
Beale Street Hotel Operator, Inc.		100	%	Delaware
Birmingham Hotel Operator, Inc.		100	%	Delaware
Braintree Hotel Operator, Inc.		100	%	Delaware
Chelsea Hotel Operator, Inc.		100	%	Delaware
CWI Atlanta Downtown Hotel, LLC		100	%	Delaware
CWI Atlanta Perimeter Hotel, LLC		100	%	Delaware
CWI Baton Rouge Hotel, LLC		100	%	Delaware
CWI Beale Street Hotel, LLC		100	%	Delaware
CWI Birmingham Hotel, LLC		100	%	Delaware
CWI Braintree Hotel, LLC		100	%	Delaware
CWI Chelsea Hotel, LLC		100	%	Delaware
CWI Lake Arrowhead Resort, LLC		100	%	Delaware
CWI Legacy Park Hotel, LLC		100	%	Delaware
CWI Mission Valley Hotel, LLC		100	%	Delaware
CWI Nashville Hotel, LLC		100	%	Delaware
CWI New Orleans CBD Hotel, LLC		100	%	Delaware
CWI New Orleans Hotel, LLC		100	%	Delaware
CWI OP, LP		100	%	Delaware
CWI SE Hotel Portfolio, LLC		100	%	Delaware
CWI Shadyside Hotel, LLC		100	%	Delaware
CWI Sonoma Hotel, LLC		100	%	Delaware
CWI-AM Atlanta Perimeter Hotel, LLC		57	%	Delaware
CWI-Fairmont Sonoma Hotel, LLC		75	%	Delaware
CWI-HRI French Quarter Hotel Property, LLC		80	%	Delaware
CWI-HRI New Orleans CBD Hotel, LLC		88	%	Delaware
CWI-Pacific Lake Arrowhead Resort, LLC		97	%	Delaware
French Quarter Hotel Operator, Inc.		80	%	Delaware
Lake Arrowhead Resort Operator, Inc.		97	%	Delaware
Legacy Park Hotel Operator, Inc.		100	%	Delaware
Mission Valley Hotel Operator, Inc.		100	%	Delaware
Nashville Hotel Operator, Inc.		100	%	Delaware
New Orleans CBD Hotel Operator, Inc.		88	%	Delaware
Shadyside Hotel Operator, Inc.		100	%	Delaware
Sonoma Hotel Operator, Inc.		75	%	Delaware