Subsequent events

12 Months Ended

Dec. 31, 2013

Subsequent Events [Abstract]

Subsequent events

Subsequent events

In February 2014, the maturity of the $106,000,000 loan secured on OEH's Brazilian assets was extended to February 2015. The loan bears interest at a rate of LIBOR plus 3.15% per annum. Also, in February 2014, the maturity of the $22,080,000 loan secured on La Residencia was extended to January 2015. The loan bears interest at a rate of EURIBOR plus 2.75% per annum. As a result, at December 31, 2013, $4,600,000 of these loans was reclassified in the current portion of long-term debt and the remaining principal amounts of $123,480,000 were classified in the non-current portion of long-term debt in the consolidated balance sheets.

On February 23, 2014, OEH announced that its board of directors has approved a proposal to operate OEH's portfolio of luxury hotels and travel experiences under a new brand name—"Belmond"—beginning in early March 2014, and to change its principal Internet website address to www.belmond.com. OEH will retain its long-term license agreement with SNCF, the French transportation company that owns the "Orient-Express" trademark, for the Venice Simplon-Orient-Express train. With the decision to introduce the "Belmond" brand, OEH also entered into an agreement with SNCF to terminate the existing "Orient-Express" license for hotel use without any cost or penalty.

On February 27, 2014, the Company announced that it is seeking to refinance all or substantially all of the funded debt of the Company and its subsidiaries (other than the debt of Charleston Place which is a consolidated variable interest entity) through a single corporate debt facility consisting of a term loan and a revolving credit facility.