Other intangible assets

Other intangible assets consist of the following as of December 31, 2016 and 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	714		—		—	714
Foreign currency translation adjustment	(807	)	(97	)	—	(904	)

Balance at December 31, 2015	8,493		1,791		7,100	17,384

Additions	—		177		—	177
Foreign currency translation adjustment	8		(310	)	479	177

Balance at December 31, 2016	8,501		1,658		7,579	17,738

Accumulated amortization:
Balance at January 1, 2015	2,486		1,130			3,616
Charge for the year	341		190			531
Foreign currency translation adjustment	(554	)	(60	)		(614	)

Balance at December 31, 2015	2,273		1,260			3,533

Charge for the year	373		188			561
Foreign currency translation adjustment	(10	)	(223	)		(233	)

Balance at December 31, 2016	2,636		1,225			3,861

Net book value:
December 31, 2014	6,100		758		7,100	13,958

December 31, 2015	6,220		531		7,100	13,851

December 31, 2016	5,865		433		7,579	13,877

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.

In the year ended December 31, 2015, favorable lease asset additions of $714,000 were recorded and relate to a concession obtained by Belmond Villa Sant'Andrea in Sicily, Italy to operate a portion of beach adjacent to the hotel.

In the year ended December 31, 2016, 2015 and 2014, no impairments of other intangible assets were recognized.

The trade name at Belmond Grand Hotel Europe was tested for impairment as of October 1, 2016. Under the first step of the impairment test, the fair value of the Belmond Grand Hotel Europe trade name was approximately 42% in excess of its carrying value. Belmond Grand Hotel Europe had a trade name balance of $7,579,000 at December 31, 2016. See Note 8 for discussion of factors that could reasonably be expected to potentially have an adverse effect on the fair value of the trade name.

Amortization expense from continuing operations for the year ended December 31, 2016 was $561,000 (2015 - $531,000; 2014 - $375,000). Estimated amortization expense for each of the years ending December 31, 2017 to December 31, 2021 is approximately $561,000.