83
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
9.- INVESTMENTS VALUED USING THE EQUITY METHOD
The movements under this heading of the consolidated balance sheet during 2015 and 2014 were as follows:
Company
Net balance at
31/12/2013
Retirements
Transfers
Profit (Loss)
2014
Currency
translation
differences
Net balance at
31/12/2014
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
Company
Net balance at
31/12/2014
Additions
Profit (Loss)
2015
Currency
translation
differences
Net balance at
31/12/2015
Varallo Comercial, S.A.
7,412
-
(1,107)
881
7,186
Inmobiliaria 3 Poniente, S.A. de C.V.
2,179
-
186
(397)
1,968
Palacio de la Merced, S.A.
1,448
-
94
-
1,542
Mil Novecientos Doce, S.A. de C.V.
2,082
-
91
(238)
1,935
Consorcio Grupo Hotelero T2, S.A. de C.V.
877
-
158
(198)
837
Hotelera del Mar, S.A.
2,384
-
133
(800)
1,717
Borokay Beach, S.L.
1,434
-
(14)
-
1,420
Beijing NH Grand China Hotel Management Co, Ltd
-
270
(276)
6
-
Hotel & Congress Technology, S.L.
-
1
72
-
73
Losan Investment Ltd.
-
-
-
-
-
Total
17,816
271
(663)
(746)
16,678
On 9 September 2015, the Joint Venture with the shareholding group HNA Hospitality Group Co, Ltd. was formalised, creating Beijing NH Grand
China Hotel Management Co, Ltd in which the Group is a 49% shareholder.
On 15 April 2015, the contract for the Joint Venture between the Group and the company MDH Hologram, S.A. was formalised, in virtue of which 25%
of the company Hotel & Congress Technology, S.L. was sold, resulting in a 50% shareholding for the NH Hotel Group. The company was incorporated
into the consolidation upon commencing activity in 2015, having been previously inactive, with shares accounted for under the heading “Other non-
current financial assets” in the year 2014.
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 13,292 thousand euros, generating a net gain of 13,292 thousand euros
registered in line “ Profit (loss) on disposal of financial investments” and a result of 370 thousand euros for the exchange rates associated of the
participation(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.
