Other intangible assets

Other intangible assets consist of the following as of December 31, 2017 and 2016:



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


Carrying amount:
Balance at January 1, 2016	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

Additions	—		—		6,100	6,100
Disposals	—		(247	)	—	(247	)
Foreign currency translation adjustment	59		168		322	549

Balance at December 31, 2017	8,560		1,579		14,001	24,140

Accumulated amortization:
Balance at January 1, 2016	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

Charge for the year	434		166			600
Disposals	—		(247	)		(247	)
Foreign currency translation adjustment	22		126			148

Balance at December 31, 2017	3,092		1,270			4,362

Net book value:
December 31, 2015	6,220		531		7,100	13,851

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

December 31, 2017	5,468		309		14,001	19,778

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, 2017, trade name additions of $6,100,000 were recognized on the acquisition of Cap Juluca. See Note 4.

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, 2017, 2016 and 2015, no impairments of other intangible assets were recognized.

The trade names of Belmond Cap Juluca and Belmond Grand Hotel Europe were tested for impairment as of October 1, 2017. Under the first step of the impairment test, the fair value of the Belmond Cap Juluca trade name was approximately 29% in excess of its carrying value and the fair value of the Belmond Grand Hotel Europe trade name was approximately 32% in excess of its carrying value. Belmond Cap Juluca and Belmond Grand Hotel Europe had a trade name balance of $6,100,000 and $7,901,000, respectively, at December 31, 2017. See Note 9 for discussion of factors that could reasonably be expected to potentially have an adverse effect on the fair value of the Belmond Cap Juluca trade name.

Amortization expense from continuing operations for the year ended December 31, 2017 was $600,000 (2016 - $561,000; 2015 - $531,000). Estimated amortization expense for each of the years ending December 31, 2018 to December 31, 2022 is approximately $600,000.