“Cash and Cash Equivalents” largely includes the Company’s cash position and bank deposits maturing in three months or less. These assets are recognised at their fair value.
The Group’s liquidity position at 31 December 2021 is based on the following points:
- The group had cash and cash equivalents amounting to 243,930 thousand euros.
- Available undrawn credit facilities of 267,000 thousand euros (Note 17).
There are no restrictions on how cash may be used. There are 2,424 thousand euros reserved in accordance with a firm commitment with the co-owners of Hoteles Royal (2,057 thousand euros in 2020) for future investments in the hotels.
As a result of the enactment of Royal Decree 1558/2012 of 15 November, of Article 42 bis of Royal Decree 1065/2007 of 27 July, approving the General Regulations on tax management, inspection and procedures, and implementing the common rules of the procedures for applying taxes, which establishes certain reporting obligations with regard to overseas assets and rights, among others, it is disclosed that some members of the NH Hotel Group S.A. Board of Directors have the right, as representatives or authorised officials, to dispose of bank accounts located abroad, which are in the name of Group companies. The reason certain Board members have the right to dispose of overseas bank accounts is that they are directors or board members of said subsidiaries.
NH Hotel Group S.A. holds other accounting documents, namely the consolidated annual accounts, from which sufficient data can be extracted in relation to the aforementioned accounts.