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Basis of financial statement presentation
12 Months Ended
Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of financial statement presentation
Basis of financial statement presentation
 
Business
 
In this report the terms "Belmond," the “Company," "we," and "our" are used to refer to Belmond Ltd. and Belmond Ltd. and its consolidated subsidiaries, unless otherwise stated.
 
At December 31, 2018, Belmond owned, invested in or managed 36 deluxe hotels and resort properties (including the Belmond Cadogan Hotel that opened on February 28, 2019) operating in the United States, Mexico, Caribbean, Europe, Southern Africa, South America, and Southeast Asia, one stand-alone restaurant in New York, seven tourist trains in Europe, Southeast Asia and Peru, one river cruise business in Myanmar (Burma) and one canal boat business in France.

Agreement and Plan of Merger

On December 14, 2018, the Company announced that it had entered into an Agreement and Plan of Merger dated December 13, 2018 (the "Merger Agreement") with LVMH Moët Hennessy—Louis Vuitton SE ("LVMH"), Palladio Overseas Holding Limited, an indirect, wholly-owned subsidiary of LVMH ("Holding"), and Fenice Ltd., a wholly-owned subsidiary of Holding ("Merger Sub"), pursuant to which LVMH will acquire the Company. Under the Merger Agreement, the sale to LVMH will be effected by way of a merger of Merger Sub with and into the Company, with the Company being the surviving company in the merger and becoming a subsidiary of Holding.

The completion of the merger, which is expected to occur in the first half of 2019, is subject to the satisfaction or waiver of certain conditions, including the receipt of antitrust approvals in certain foreign jurisdictions and the absence of any law or governmental order prohibiting the merger. The Company held a special general meeting of its shareholders on February 14, 2019 at which time Belmond's shareholders approved the Merger Agreement and the merger. At the effective time of the merger, each issued and outstanding class A common share, par value $0.01 per share, of the Company, other than class A common shares that are held by the Company in treasury or that are owned by LVMH, Holding or Merger Sub or by any other direct or indirect subsidiary of LVMH or the Company, will be converted automatically and without any action by the holder of the class A common shares into the right to receive $25.00 per share in cash, without interest (and less any applicable withholding taxes). If the merger is completed, the Company will cease to be a publicly traded company and will become a subsidiary of Holding and an indirect subsidiary of LVMH. For further information on the risks relating to the sale of the Company, see Part 1—Item 1A—Risk Factors—Risks Related to the Sale of the Company. Additional information about the sale, the Merger Agreement and the merger, including circumstances under which the Merger Agreement can be terminated, as well as other terms and conditions, are set forth in the Company's Current Report on Form 8-K filed with the SEC on December 14, 2018.

Under the Merger Agreement, the Company is restricted from taking certain actions without LVMH's consent while the sale to LVMH is pending, including, among other matters, from making certain investments or acquisitions and selling certain assets, engaging in certain capital expenditures, and incurring certain indebtedness.

In addition, subject to certain exceptions, the Merger Agreement prohibits the Company from soliciting or engaging in discussion with respect to certain alternative acquisition transactions and, in certain circumstances, the Company will be required to pay a termination fee of $92,261,000 to LVMH in order to terminate the Merger Agreement and pursue such an alternative transaction.

Basis of presentation
 
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect the results of operations, financial position and cash flows of the Company and all its majority-owned subsidiaries and variable interest entities in which Belmond is the primary beneficiary.  The consolidated financial statements have been prepared using the historical basis in the assets and liabilities and the historical results of operations directly attributable to Belmond, and all intercompany accounts and transactions between the Company and its subsidiaries have been eliminated. For entities where the Company does not have a controlling financial interest, the investments in those entities are accounted for using the equity or cost method, as appropriate.

Reclassifications

During the year ended December 31, 2017 the Company corrected a prior period misstatement to reclassify an immaterial deferred tax entry related to a change of functional currency at the Company's Brazilian subsidiaries in 2014. As a result, opening Retained Earnings increased by $5,562,000 and opening Accumulated and Other Comprehensive Income decreased by $5,562,000, with no net change in Total Equity. There is no impact on net earnings, EPS or cash flows in any period presented.