XML 62 R53.htm IDEA: XBRL DOCUMENT v3.7.0.1
Segment information (Tables)
 3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Reconciliation of revenue from segments to consolidated
Revenue from external customers by segment:
 
 
Three months ended
 
 
March 31,
2017
 
March 31,
2016
 
 
$’000
 
$’000
 
 
 
 
 
Owned hotels:
 
 
 
 
Europe
 
12,015

 
13,425

North America
 
39,886

 
39,602

Rest of world
 
35,963

 
35,268

Total owned hotels
 
87,864

 
88,295

Owned trains and cruises
 
5,140

 
6,439

Part-owned/managed hotels
 
534

 
674

Part-owned/managed trains
 
1,823

 
1,994

Total management fees
 
2,357

 
2,668

 
 
 
 
 
Revenue
 
95,361

 
97,402
Reconciliation of adjusted earnings by segment to net earnings/losses
Reconciliation of consolidated earnings/(losses) from continuing operations to adjusted EBITDA:
 
 
Three months ended
 
 
March 31,
2017
 
March 31,
2016
 
 
$’000
 
$’000
 
 
 
 
 
Adjusted EBITDA
 
 
 
 
Owned hotels:
 
 
 
 
Europe
 
(8,120
)
 
(5,617
)
North America
 
9,895

 
10,063

Rest of world
 
9,946

 
11,511

Total owned hotels
 
11,721

 
15,957

Owned trains and cruises
 
(4,233
)
 
(2,819
)
Part-owned/managed hotels
 
259

 
668

Part-owned/managed trains
 
2,729

 
3,720

Total adjusted share of earnings from unconsolidated companies and management fees
 
2,988

 
4,388

 
 
 
 
 
Unallocated corporate:
 
 
 
 
Central costs
 
(9,400
)
 
(7,890
)
Share-based compensation
 
(1,535
)
 
(1,742
)
 
 
 
 
 
Adjusted EBITDA
 
(459
)
 
7,894

 
 
 
 
 
Reconciliation from losses from continuing operations to adjusted EBITDA:
 
 
 
 
 
 
 
 
 
Losses from continuing operations
 
(18,012
)
 
(1,368
)
   Depreciation and amortization
 
13,728

 
13,067

   Interest income
 
(146
)
 
(116
)
   Interest expense
 
7,676

 
7,510

   Foreign currency, net
 
234

 
(2,858
)
   Benefit from income taxes
 
(5,266
)
 
(9,596
)
   Share of provision for income taxes of unconsolidated companies
 
246

 
876

 
 
(1,540
)
 
7,515

   Gain on disposal of property, plant and equipment
 
(150
)
 
(150
)
   Restructuring and other special items
 
1,231

 
529

 
 
 
 
 
Adjusted EBITDA
 
(459
)
 
7,894
Reconciliation of other significant reconciling items from segments to consolidated
Earnings from unconsolidated companies, net of tax:
 
 
Three months ended
 
 
March 31,
2017
 
March 31,
2016
 
 
$’000
 
$’000
 
 
 
 
 
Part-owned/managed hotels
 
(217
)
 
(87
)
Part-owned/managed trains
 
593

 
922

 
 
 
 
 
Total earnings from unconsolidated companies, net of tax
 
376

 
835

Reconciliation of capital expenditure to acquire property, plant and equipment by segment:
 
 
Three months ended
 
 
March 31,
2017
 
March 31,
2016
 
 
$’000
 
$’000
 
 
 
 
 
Owned hotels:
 
 
 
 
Europe
 
6,230

 
3,078

North America
 
1,097

 
2,169

Rest of world
 
1,701

 
1,885

Total owned hotels
 
9,028

 
7,132

Owned trains and cruises
 
2,537

 
3,349

 
 
 
 
 
Unallocated corporate
 
430

 
532

 
 
 
 
 
Total capital expenditure to acquire property, plant and equipment
 
11,995

 
11,013
Schedule of financial information regarding geographic areas based on the location of properties
Revenue from external customers in Belmond’s country of domicile and significant countries (based on the location of the property):
 
 
Three months ended
 
 
March 31,
2017
 
March 31,
2016
 
 
$’000
 
$’000
 
 
 
 
 
Bermuda
 
—

 
—

Italy
 
1,367

 
2,243

United Kingdom
 
6,087

 
6,798

United States
 
26,557

 
24,095

Brazil
 
18,163

 
18,443

All other countries
 
43,187

 
45,823

 
 
 
 
 
Total revenue
 
95,361

 
97,402