82
Company
Net
balance at
31/12/13
Retirements Assignments
(Note 9)
Profit (Loss)
2013
Currency
translation
Net
balance at
31/12/14
Sotocaribe, S.L.
41,941
-
(41,941)
-
-
-
Capredo Investments GmbH
6,348
-
(6,348)
-
-
-
Varallo Comercial, S.A.
9,693
-
-
(1,717)
(564)
7,412
Inmobiliaria 3 Poniente, S.A. de C.V.
1,542
-
-
218
419
2,179
Palacio de la Merced, S.A.
1,396
-
-
52
-
1,448
Mil Novecientos Doce, S.A. de C.V.
1,787
-
-
87
208
2,082
Consorcio Grupo Hotelero T2, S.A. de C.V.
374
-
-
121
382
877
Hotelera del Mar, S.A.
214
-
-
-
2,170
2,384
Fonfir1, S.L.
20
(20)
-
-
-
-
Residencial Marlin, S.L.
19,328
-
(19,328)
-
-
-
Borokay Beach, S.L.
1,536
-
-
(102)
-
1,434
Los Alcornoques de Sotogrande, S.L.
-
-
-
-
-
-
Losan Investment, Ltd.
-
-
-
-
-
-
Harrington Hall, Ltd.
-
-
-
-
-
-
Total
84,179
(20)
(67,617)
(1,341)
2,615
17,816
Once Hotelera del Mar, S.A. commenced its activity, the NH Group consolidated it, reclassifying the balance from “Other non-current financial
investments” with effect from 1 January 2013.
Although the NH Group has an ownership interest of only 22.33%, it exercises significant influence, since it participates in the determination of the
distribution/allocation of its profit/loss.
NH Hotel Group’s policy on interests in associates consists in the Group ceasing to recognise losses in these companies if the associate’s consolidated
losses attributable to the Group are equivalent to or exceed the cost of its interest in them, provided there are no additional contingencies or
guarantees connected with already incurred losses. This is the situation of the stake in Losan Investment, Ltd.
On 12 August 2014 the NH Group sold its shares in Harrington Hall, Ltd. for €13,291 thousand generating a net gain of €13,662 thousand (see Note
2.5.4).
The most significant financial information related to the main ownership interests in joint ventures is detailed in Appendix II to this consolidated
annual report.
11.- NON-CURRENT FINANCIAL INVESTMENTS
11.1 Loans and Accounts Receivable Not Available for Trading
The breakdown of this item at 31 December 2014 and 2013 is as follows:
€Thousand
2014
2013
Subordinated loans to companies owning hotels operated by the Group through leases (*)
46,740
45,885
Accounts receivable in respect of put option for Sotocaribe (Note 2.5.4)
58,250
-
Other collection rights
10,116
10,116
Other loans
17,230
16,722
Lease advance payments
3,535
3,660
Accounts receivable from joint ventures (Note 26)
6,279
5,576
Loans to associates (Note 26) (*)
-
2,250
Long-term deposits and sureties
12,789
15,172
Others
3,930
4,486
Total
158,859
103,867
*These loans accrue an average rate of interest of 3% to 4.89%.
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
