2013 Registration document and annual financial report - page 216

Registration Document 2013
214
Financial Statemements
5
Consolidated Financial Statements And Notes
A. Rental expense by business
Rental expense can be analyzed as follows by business:
(in millions of euros)
2012
2013
HOTELS
(943)
(896)
Upscale and Midscale Hotels
(579)
(539)
Economy
(364)
(357)
OTHER BUSINESSES
5
2
TOTAL
(938)
(894)
B. Rental expense by type of contract
Rental expense breaks down as follows by type of contract:
(in millions of euros)
Number of
hotels
(1)
2013 rental
Fixed rental
expense
Variable rental
expense
Fixed rent with purchase option
9
(15)
(15)
-
Fixed rent without purchase option
275
(233)
(233)
-
Fixed rent with a variable portion
(2)
61
(78)
(64)
(14)
Land rent
-
(9)
(6)
(3)
Office rental expenses (Hotels business)
-
(27)
(26)
(1)
Fees on intragroup rent guarantees on Hotels business
-
(15)
(14)
(1)
TOTAL HOTEL FIXED RENTAL EXPENSE
345
(377)
(358)
(19)
Variable rent with a minimum
(3)
115
(90)
(75)
(15)
Variable rent with a minimum and cap
(4)
16
(23)
(10)
(13)
Variable rent without a minimum
(5)
633
(406)
-
(406)
TOTAL HOTEL VARIABLE RENTAL EXPENSE
764
(519)
(85)
(434)
TOTAL HOTEL RENTAL EXPENSE
1,109
(896)
(443)
(453)
Rental expense not related to hotels
-
(12)
(11)
(1)
Internal lease guarantee fees
-
14
13
1
TOTAL RENTAL EXPENSE
1,109
(894)
(441)
(453)
1...,206,207,208,209,210,211,212,213,214,215 217,218,219,220,221,222,223,224,225,226,...344
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