Other intangible assets

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Other intangible assets consist of the following as of June 30, 2015:



	Favorable lease assets		Internet sites	Trade names	Total
	$'000		$'000	$'000	$'000

Carrying amount:
Balance at January 1, 2015	8,586		1,888	7,100	17,574
Additions	706		—	—	706
Foreign currency translation adjustment	(224	)	12	—	(212	)

Balance at June 30, 2015	9,068		1,900	7,100	18,068

Accumulated amortization:
Balance at January 1, 2015	2,486		1,130		3,616
Charge for the period	157		65		222
Foreign currency translation adjustment	(69	)	8		(61	)

Balance at June 30, 2015	2,574		1,203		3,777

Net book value:
At June 30, 2015	6,494		697	7,100	14,291

At December 31, 2014	6,100		758	7,100	13,958

Favorable lease intangible assets are amortized over the terms of the leases, which are between 19 and 60 years. Internet sites are amortized over a period of five to ten years. Trade names have an indefinite life and therefore are not amortized, but are assessed for impairment annually or when events indicate that impairment may have occurred.

Favorable lease asset additions of $706,000 relate to a concession obtained by Belmond Villa Sant’Andrea in Sicily, Italy to operate a portion of beach adjacent to the hotel.

Total amortization expense for the three and six months ended June 30, 2015 was $128,000 (June 30, 2014 - $124,000) and $222,000 (June 30, 2014 - $192,000). Estimated total amortization expense for the remainder of the year ending December 31, 2015 is $222,000 and for each of the years ending December 31, 2016 to December 31, 2020 is $444,000.