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Exhibit 12.1

LodgeNet Entertainment Corporation and Subsidiaries

Statement Regarding Computation of Ratios (Unaudited)
(Dollar amounts in thousands)

Computation of Coverage of Fixed Charges

		2001			2000			1999			1998			1997
Net loss		$	(26,408	)	$	(39,014	)	$	(36,428	)	$	(39,912	)	$	(25,619	)
Add:
	Extraordinary loss (1)		2,091			—			—			—			—
	Cumulative effect of change in accounting principle (2)		—			—			—			—			210
	Provision for income taxes		689			325			370			375			344
Add fixed charges (3):
	Interest		30,306			27,809			27,210			23,261			19,731
	Amortization of debt costs		1,178			1,589			1,488			1,004			1,008
	Interest portion of rentals		179			158			145			174			210
Earnings available to cover fixed charges			8,035			(9,133	)		(7,215	)		(15,098	)		(4,116	)
Less fixed charges			31,663			29,556			28,843			24,439			20,949
Deficiency in the coverage of fixed charges		$	(23,628	)	$	(38,689	)	$	(36,058	)	$	(39,537	)	$	(25,065	)

(1)

In 2001—loss on early retirement of the Company's 1999 bank credit facility.

(2)

In 1997—charge for the effect of adopting EITF Issue 97-13 related to accounting for certain business reengineering costs.

(3)

Fixed charges consist of interest on all indebtedness, including amortization of debt issuance expense and capitalized interest, and one-third of rental expense (which is estimated to represent the interest portion thereof).

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Exhibit 12.1