Derivatives and hedging activities (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of notional amounts of outstanding interest rate derivatives that were designated as cash flow hedges

As of December 31, 2013 and 2012, OEH had the following outstanding interest rate derivatives stated at their notional amounts in local currency that were designated as cash flow hedges of interest rate risk:

	2013		2012
December 31,	’000		’000
Interest Rate Swaps	€	137,469	€	142,094
Interest Rate Swaps	$	63,700	$	104,259

Schedule of fair value of derivative financial instruments

The table below presents the fair value of OEH’s derivative financial instruments and their classification as of December 31, 2013 and 2012:

		Fair value as of		Fair value as of
		December 31, 2013		December 31, 2012
	Balance sheet location	$’000		$’000
Derivatives designated in a cash flow hedging relationship:
Interest Rate Swaps	Accrued liabilities	(3,012	)	(3,858	)
Interest Rate Swaps	Other liabilities	(1,878	)	(5,021	)
Total		(4,890	)	(8,879	)
Derivatives not designated as hedging instruments:
Interest Rate Options	Other Assets	2		6
Interest Rate Swaps	Accrued liabilities	—		—
Interest Rate Swaps	Other liabilities	—		—
Total		2		6

Schedule of derivative movements not included in other comprehensive income

Derivative movements not included in other comprehensive income for the years ended December 31, 2013, 2012 and 2011 were as follows:

	2013		2012		2011
Year ended December 31,	$’000		$’000		$’000
Amount of gain/(loss) recognized in interest expense for the ineffective portion of derivatives	(37	)	218		(353	)
Amount of gain/(loss) recognized in interest expense for derivatives not designated as hedging instruments	(4	)	(54	)	484