Assets held for sale and discontinued operations (Tables)

12 Months Ended

Dec. 31, 2013

Discontinued Operations and Disposal Groups [Abstract]

Net assets sold and gain on sale, summarized operating results of discontinued operations and assets and liabilities held for sale

The following is a summary of net assets sold and the gain recorded on sale for Porto Cupecoy, The Westcliff, The Observatory Hotel, Bora Bora Lagoon Resort, Keswick Hall and Hôtel de la Cité:

	Porto Cupecoy		The Westcliff		The Observatory Hotel		Bora Bora Lagoon Resort		Keswick Hall		Hôtel de la Cité
	January 31, 2013		December 14, 2012		August 8, 2012		June 1, 2012		January 23, 2012		August 1, 2011
	$'000		$'000		$'000		$'000		$'000		$'000
Property, plant & equipment	38		17,911		48,096		15,827		18,590		13,147
Real estate assets	18,512		—		—		—		—		—
Net working capital (deficit)/surplus	—		(207	)	(299	)	(720	)	401		266
Other assets/(liabilities)	—		—		—		—		(1,891	)	—
Net assets	18,550		17,704		47,797		15,107		17,100		13,413
Transfer of foreign currency translation loss/(gain)	—		1,308		(12,147	)	(13,074	)	—		(3,018	)
	18,550		19,012		35,650		2,033		17,100		10,395
Consideration:
Cash	19,000		26,000		30,895		3,000		12,000		12,933
Reduction in debt facility on sale of hotel	—		—		11,211		—		10,000		—
Less: Working capital adjustment	(11	)	(628	)	(447	)	—		(430	)	—
Less: Costs to sell	—		(954	)	(650	)	(305	)	(513	)	(356	)
	18,989		24,418		41,009		2,695		21,057		12,577
Gain on sale	439		5,406		5,359		662		3,957		2,182

Summarized results of the properties classified as discontinued operations for the years ended December 31, 2013, 2012 and 2011 (including residual transactions relating to properties disposed of in prior periods, which are recorded in “Other”) are as follows: 

	Year ended December 31, 2013
	Ubud Hanging Gardens		Porto Cupecoy		The Westcliff	Keswick Hall	Total
	$'000		$'000		$'000	$'000	$'000
Revenue	5,124		1,932		—	—	7,056
Earnings/(losses) before tax, gain on sale and impairment	591		(3,228	)	—	—	(2,637	)
Impairment	(7,031	)	—		—	—	(7,031	)
Gain on sale	—		439		—	—	439
Earnings/(losses) before tax	(6,440	)	(2,789	)	—	—	(9,229	)
Tax (provision)/benefit	1,838		—		1,425	648	3,911
Net earnings/(losses) from discontinued operations	(4,602	)	(2,789	)	1,425	648	(5,318	)

	Year ended December 31, 2012
	Ubud Hanging Gardens		Porto Cupecoy		The Westcliff		The Observatory Hotel		Bora Bora Lagoon Resort		Keswick Hall		Total
	$'000		$'000		$'000		$'000		$'000		$'000		$'000
Revenue	5,816		8,163		9,088		9,194		—		1,062		33,323
Earnings/(losses) before tax, gain on sale and impairment	1,757		(5,187	)	215		(1,080	)	(166	)	(1,601	)	(6,062	)
Impairment	—		(3,166	)	—		—		—		—		(3,166	)
Gain on sale	—		—		5,406		5,359		662		3,957		15,384
Earnings/(losses) before tax	1,757		(8,353	)	5,621		4,279		496		2,356		6,156
Tax (provision)/benefit	(336	)	—		(1,025	)	426		—		(683	)	(1,618	)
Net earnings/(losses) from discontinued operations	1,421		(8,353	)	4,596		4,705		496		1,673		4,538

	Year ended December 31, 2011
	Ubud Hanging Gardens		Porto Cupecoy		The Westcliff		The Observatory Hotel		Bora Bora Lagoon Resort		Keswick Hall		Hôtel de la Cité		Other		Total
	$'000		$'000		$'000		$'000		$'000		$'000		$'000		$'000		$'000
Revenue	5,381		7,871		9,523		16,429		—		15,359		3,743		—		58,306
Earnings/(losses) before tax, gain on sale and impairment	1,527		(6,169	)	(585	)	(726	)	(403	)	(1,330	)	(212	)	(11	)	(7,909	)
Impairment	—		(38,545	)	(515	)	—		(2,150	)	(23,934	)	—		—		(65,144	)
Gain on sale	—		—		—		—		—		—		2,182		—		2,182
Earnings/(losses) before tax	1,527		(44,714	)	(1,100	)	(726	)	(2,553	)	(25,264	)	1,970		(11	)	(70,871	)
Tax (provision)/benefit	(469	)	—		(87	)	—		—		4,506		(784	)	—		3,166
Net earnings/(losses) from discontinued operations	1,058		(44,714	)	(1,187	)	(726	)	(2,553	)	(20,758	)	1,186		(11	)	(67,705	)

Assets and liabilities of the properties classified as held for sale consist of the following:

	December 31, 2013					December 31, 2012
	The Inn at Perry Cabin		Porto Cupecoy	Total		The Inn at Perry Cabin		Porto Cupecoy		Total
	$’000		$’000	$'000		$’000		$’000		$'000
Current assets	1,503		—	1,503		1,473		—		1,473
Real estate assets	—		720	720		—		22,040		22,040
Property, plant and equipment, net	32,193		—	32,193		33,489		38		33,527
Total assets held for sale	33,696		720	34,416		34,962		22,078		57,040
Current liabilities	(1,611	)	—	(1,611	)	(1,363	)	(2,174	)	(3,537	)
Total liabilities held for sale	(1,611	)	—	(1,611	)	(1,363	)	(2,174	)	(3,537	)