102
25.4 Other Operating Expenses
The detail of “Other Operating Expenses” of the consolidated statement of comprehensive income for 2014 and 2013 is as follows:
€Thousand
2014
2013
Lease rentals
272,156
275,230
External services
452,078
423,912
Additions to contingency and expense provisions
(4,217)
5,015
720,017
704,157
During 2014 and 2013, the fees for account auditing and other services provided by the auditor of the Group’s consolidated annual accounts,
Deloitte, S.L., and the fees for services invoiced by the entities related to it by control, shared ownership or management, were as follows:
€Thousand
2014
2013
Auditing services
464
488
Other verification services
241
395
Total auditing and related services
705
883
Tax consulting services
246
133
Other services
666
1,260
Total other services
912
1,393
Total professional services
1,617
2,276
Additionally, entities associated with the Deloitte international network have invoiced the Group for the following services:
€Thousand
2014
2013
Auditing services
890
899
Other verification services
35
143
Total auditing and related services
925
1,042
Tax consulting services
133
161
Other services
42
39
Total other services
175
200
Total
1,101
1,242
During 2014, other auditing firms apart from Deloitte, S.L. or entities associated with this company by control, shared ownership or management,
have provided account auditing services to the companies making up the Group, for fees totalling €57 thousand (€69 thousand in 2013). The fees
accrued in 2014 by these firms for tax advice services were €232 thousand (€205 thousand in 2013) and for other services, €399 thousand (€31
thousand in 2013).
25.5 Operating Leases
At 31 December 2014 and 2013, the Group had made undertakings concerning future minimal rental payments by virtue of non-cancellable operating
lease agreements, which expire as set out in the table below.
The current value of the rental payments has been calculated by applying a discount rate in keeping with the Group’s weighted average cost of
capital and includes the commitments which the Group estimates will have to be met in the future to guarantee a minimum return from hotels
operated under a management agreement.
€Thousand
2014
2013
Less than one year
278,675
277,994
Between two and five years
1,053,825
1,042,681
More than five years
824,049
793,691
Total
2,156,549
2,114,366
The term of the operating lease agreements signed by the Group ranges from 5 to 40 years. Agreements likewise include several methods to
determine the rent to be paid. Basically, the methods for determining rentals can be summarised as fixed rentals indexed to a consumer price index;
fixed rentals complemented by a variable part, indexed to the property’s operating profits; or completely variable rentals, determined by business
performance during the year. In some cases, variable rentals are set with a minimum profitability threshold for the owners of the property under
operation.
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
