Derivatives and hedging activities (Tables)

3 Months Ended

Mar. 31, 2014

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 March 31, 2014 and December 31, 2013, 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: 

	March 31, 2014		December 31, 2013
	’000		’000
Interest Rate Swaps	€	75,000	€	137,469
Interest Rate Swaps	$	172,500	$	63,700

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 March 31, 2014 and December 31, 2013: 

	Liability derivatives
		Fair value as of		Fair value as of
		March 31, 2014		December 31, 2013
	Balance sheet location	$’000		$’000
Derivatives designated in a cash flow hedging relationship:
Interest rate swaps	Accrued liabilities	(2,455	)	(3,012	)
Interest rate swaps	Other assets/(Other liabilities)	1,630		(1,878	)
Total		(825	)	(4,890	)
Derivatives not designated as hedging instruments:
Interest rate options	Other assets	—		2
Total		—		2

Schedule of effect of derivative financial instruments on the statements of consolidated operations and statements of consolidated comprehensive income

Derivative movements not included in other comprehensive income/(loss) for the three months endedMarch 31, 2014 and 2013 were as follows:

	Three months ended
	March 31, 2014		March 31, 2013
	$’000		$’000
Amount of gain recognized in interest expense for the ineffective portion of derivatives designated as cash flow hedges	—		37
Amount of loss recognized in interest expense for derivatives not designated as hedging instruments	(2	)	(36	)