112
The Board of Directors had 12 members at 31 December 2015, of which 1 is a woman and 11 are men (in 2014, there were 12 members: all were men).
In relation to the chapter “Share transactions and/or other financial instruments”, share-based remuneration schemes with overlaid cycles are
included and both in the case of the CEO and of the members of Senior Management, the objective remuneration earned has been taken into
account.
27.2 Remuneration of senior management
The remuneration of members of the Management Committee at 31 December 2015 and 2014, excluding those who simultaneously held office as
members of the Board of Directors (whose remuneration has been set out above), is detailed below:
Thousands of euros
2015
2014
Pecuniary remuneration
2,830
2,535
Remuneration in kind
620
341
Others
65
61
Total
3,515
2,937
There were seven members of Senior Management at 31 December 2015, excluding the CEO, one more member than the previous year.
The accrued part of the variable remuneration is included within the remuneration of Senior Management, excluding the CEO.
27.3 Information on conflicts of interest on the part of Directors
The Board of Directors has authorised a method of monitoring and evaluation so managers can facilitate the Board itself with information applicable
to Article 229 of the Consolidated Capital Companies Act, concerning the obligations of transparency and control.
In accordance with the provisions of that article, at year-end 2015 the members of the Board of Directors of NH Hotel Group, S.A. have indicated
they are not in any situation of conflict, direct or indirect, that they or persons related to them, as defined in the Act, may have with the interests of
the Company.
28.- EVENTS AFTER THE REPORTING PERIOD
After the year end closing there has not been any relevant issue with significant impact on the financial and equity position of the Group.
29.- INFORMATION ON ENVIRONMENTAL POLICY
The NH Group had not allocated any provisions for environmental contingencies and claims at year-end 2015.
The NH Group has no activities which require specific information to be shown in the environmental policy.
NH Group is certified by leading international standards such as ISO 50001, which certifies the efficiency of the hotel network’s energy management
on an international scale, and ISO 14001, which certifies environmental management.
The NH Group reports its climate-change commitment and strategy to the Carbon Disclosure Project (CDP). The CDP’s A99-rating places NH Hotels
Group among the leading companies in the hotel industry for its strategy to combat climate change. NH Hotels Group forms part of FTSE4 Good, an
index on the London Stock Exchange which recognises the socially responsible behaviour of companies worldwide.
30.- EXPOSURE TO RISK
The Group financial risk management is centralised at the Corporate Finance Division. This Division has put the necessary measures in place to
control exposure to changes in interest and exchange rates on the basis of the Group’s structure and financial position, as well as credit and liquidity
risks. If necessary, hedges are made on a case-by-case basis. The main financial risks faced by the Group’s policies are described below:
Credit risk
The Group’s main financial assets include cash and cash equivalents (see Note 13), as well as trade and other accounts receivable (see Note 12). In
general terms, the Group holds its cash and cash equivalents in entities with a high credit rating and part of its trade and other accounts receivable
are guaranteed by deposits, bank guarantees and advance payments by tour operators.
The Group has no significant concentration of third-party credit risk due to the diversification of its financial investments as well as to the distribution
of trade risks with short collection periods among a large number of customers.
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
