2013 Registration document and annual financial report - page 225

Registration Document 2013
223
Financial Statemements
5
Consolidated Financial Statements And Notes
C. Impairment of property, plant and equipment
(in millions of euros)
France
Europe (excl.
France)
Asia
Pacific
Latin America &
Caribbean
Other
Countries
Worldwide
Structures
2013
2012
HOTELS
(17)
(38)
(5)
(1)
(19)
-
(80)
(83)
Upscale and Midscale
Hotels
(10)
(21)
(1)
(1)
(19)
-
(52)
(59)
Economy Hotels
(7)
(17)
(4)
-
-
-
(28)
(24)
OTHER BUSINESSES
0
-
(1)
-
-
-
(1)
(0)
TOTAL 2013
(17)
(38)
(6)
(1)
(19)
-
(81)
TOTAL 2012
(9)
(41)
(3)
-
(30)
-
(83)
At December 31, 2013, impairment losses on property, plant and
equipment amounted to €81 million, of which €1.8 million concerning
the assets of hotels that were held for sale at the balance sheet date
and measured at fair value. Impairment losses recognized during
the period concerned 136 hotels for €80 million. No impairment
losses were reversed.
At December, 2012, impairment losses on property, plant and
equipment amounted to €83 million, of which €7 million on assets
held for sale. Impairment losses recognized during the period
concerned 85 hotels for €83 million. No impairment losses were
reversed.
NOTE
14 GAINS AND LOSSES ON MANAGEMENT OF HOTEL PROPERTIES
(in millions of euros)
2012
2013
Disposal gains and losses
1
78
Provisions for losses on hotel properties
10
(10)
TOTAL
11
68
At December 31, 2013
, the total mainly included a net gain of
€56 million on the sale & management-back of Sofitel Paris Le
Faubourg (see note 2.A.2.2).
At December 31, 2012
, the total mainly included:
ƒƒ
a net gain of €26 million generated by sale & franchise-back
transactions in France (29 hotels);
ƒƒ
a net gain of €18 million generated by sale & franchise-back
transactions in South Africa, through the sale of a 52.6% stake
in “Hotel Formula 1” to Southern Sun Hotels (see note 2.A.2.3);
ƒƒ
a net gain of €16 million generated by sale & management-back
transactions in the United States, corresponding to the sale of
the NewYork Novotel (see note 2.A.2.2);
ƒƒ
a net gain of €10 million on the sale &management-back of Sofitel
Paris La Défense in France (see note 2.A.2.2);
ƒƒ
a €9 million gain on the sale & management-back of Novotel and
ibis Beijing Sanyuan in China (see note 2.A.2.2);
ƒƒ
a €1 million loss on the outright sale of Pullman Paris Rive-Gauche
in France to Bouygues Immobilier (see note 2.A.2.3);
ƒƒ
a €11 million loss on the sale & management-back of Pullman
Paris Tour Eiffel in France (see note 2.A.2.2);
ƒƒ
a net loss of €47 million on the termination of hotel leases
in Germany (5 hotels) and in the Netherlands (1 hotel) (see
note 2.A.2.3).
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