Related party transactions

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Related party transactions

Related party transactions

OEH manages, under long-term contract, the tourist train owned by Eastern and Oriental Express Ltd., in which OEH has a 25% ownership interest. In the three months endedMarch 31, 2014, OEH earned management fees from Eastern and Oriental Express Ltd. of $172,000 (March 31, 2013 - $185,000), which are recorded in revenue. The amount due to OEH from Eastern and Oriental Express Ltd. at March 31, 2014 was $3,428,000 (December 31, 2013 - $4,232,000).

OEH manages, under long-term contracts in Peru, Belmond Hotel Monasterio, Belmond Palacio Nazarenas, Belmond Sanctuary Lodge, Belmond Hotel Rio Sagrado, Peru Rail and Ferrocarril Transandino, in all of which OEH has a 50% ownership interest. OEH provides loans, guarantees and other credit accommodation to these joint ventures.  In the three months endedMarch 31, 2014, OEH earned management and guarantee fees from its Peruvian joint ventures of $1,799,000 (March 31, 2013 - $1,464,000), which are recorded in revenue.  The amount due to OEH from its Peruvian joint ventures at March 31, 2014 was $4,368,000 (December 31, 2013 - $5,726,000).

OEH manages, under long-term contract, Hotel Ritz by Belmond, in which OEH has a 50% ownership interest. In the three months endedMarch 31, 2014, OEH earned $228,000 (March 31, 2013 - $199,000) in management fees from Hotel Ritz by Belmond which are recorded in revenue, and $152,000 (March 31, 2013 - $131,000) in interest income.  The amount due to OEH from Hotel Ritz by Belmond at March 31, 2014 was $29,022,000 (December 31, 2013 - $28,828,000).  See Note 5 regarding a partial guarantee of the hotel’s bank indebtedness.