Other intangible assets

12 Months Ended

Dec. 31, 2012

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Other intangible assets

Other intangible assets

Other intangible assets consist of the following as of December 31, 2012 and 2011:

	Favorable Lease Assets		Internet Sites	Trade Names	Total
Year ended December 31, 2012	$'000		$'000	$'000	$'000
Carrying amount:
Balance at January 1, 2012	13,460		1,609	7,100	22,169
Foreign currency translation adjustment	(489	)	83	—	(406	)
Balance at December 31, 2012	12,971		1,692	7,100	21,763
Accumulated amortization:
Balance at January 1, 2012	1,972		732	—	2,704
Charge for the year	354		136	—	490
Foreign currency translation adjustment	(78	)	39	—	(39	)
Balance at December 31, 2012	2,248		907	—	3,155
Net book value:
As at December 31, 2012	10,723		785	7,100	18,608
As at December 31, 2011	11,488		877	7,100	19,465

	Favorable Lease Assets		Internet Sites		Trade Names	Total
Year ended December 31, 2011	$'000		$'000		$'000	$'000
Carrying amount:
Balance at January 1, 2011	13,503		1,630		7,100	22,233
Foreign currency translation adjustment	(43	)	(21	)	—	(64	)
Balance at December 31, 2011	13,460		1,609		7,100	22,169
Accumulated amortization:
Balance at January 1, 2011	1,616		610		—	2,226
Charge for the year	368		132		—	500
Foreign currency translation adjustment	(12	)	(10	)	—	(22	)
Balance at December 31, 2011	1,972		732		—	2,704
Net book value:
As at December 31, 2011	11,488		877		7,100	19,465
As at December 31, 2010	11,887		1,020		7,100	20,007

Favorable lease intangible assets are amortized over the terms of the leases, which are between 19 and 60 years. Internet sites are amortized over 10 years. Trade names have an indefinite life and therefore are not amortized, but are assessed for impairment annually or when events indicate that impairment may have occurred.

No impairments were recognized for the years ended December 31, 2012 and 2011. In the year ended December 31, 2010, OEH identified and recorded a non-cash impairment charge of $1,070,000 in respect of two Internet-based subsidiaries. The carrying values of the intangible assets were written down to reflect the level of offers being received at the time they were considered held for sale.  Subsequent to December 31, 2010, these assets were returned to continuing operations as all the criteria for held for sale treatment were subsequently not met.

Amortization expense for the year ended December 31, 2012 was $490,000 (2011 - $500,000; 2010 - $601,000).  Estimated amortization expense for each of the years ending December 31, 2013 to December 31, 2017 is $490,000.