Investments in unconsolidated companies (Tables)

6 Months Ended

Jun. 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

Summarized financial data for unconsolidated companies

The following table shows the net proceeds to Belmond and a summary of net assets sold, resulting in a gain of $19,676,000 that is reported within gain on disposal of property, plant and equipment and equity method investments in the statements of condensed consolidated operations:

	Hotel Ritz by Belmond
	May 21, 2015
	$'000
Receivables due from unconsolidated companies	29,679
Investments in unconsolidated companies	—
Net assets sold	29,679
Transfer of foreign currency translation gain	(5,613	)
	24,066
Consideration:
Cash	42,197
Less: Costs to sell	(747	)
Plus: Management contract termination fee	2,292
	43,742
Gain on sale	19,676

Summarized financial data for Belmond’s unconsolidated companies are as follows:

	June 30, 2015	December 31, 2014
	$’000	$’000
Current assets	44,438	52,289
Property, plant and equipment, net	198,853	340,546
Other assets	33,312	37,917
Non-current assets	232,165	378,463
Total assets	276,603	430,752
Current liabilities, including $30,379 and $96,824 current portion of third-party debt	89,050	157,273
Long-term debt	18,855	27,014
Other liabilities	39,591	125,210
Non-current liabilities	58,446	152,224
Total shareholders’ equity	129,107	121,255
Total liabilities and shareholders’ equity	276,603	430,752

	Three months ended		Six months ended
	June 30, 2015	June 30, 2014	June 30, 2015	June 30, 2014
	$’000	$’000	$’000	$’000
Revenue	43,255	45,626	77,091	80,341
Gross profit1	29,198	28,052	48,044	46,533
Net earnings2	2,526	2,948	3,322	2,596

¹Gross profit is defined as revenues less cost of services of the unconsolidated companies.

²There were no discontinued operations, extraordinary items or cumulative effects of a change in an accounting principle in the unconsolidated companies.