Belmond (BEL) Inactive 10-K28 Feb 172016 FY Annual reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Dec. 31, 2016	Feb. 20, 2017	Jun. 30, 2016
Entity Registrant Name	Belmond Ltd.
Entity Central Index Key	1,115,836
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 992
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Class A common shares
Entity Common Stock, Shares Outstanding		101,804,959
Class B common shares
Entity Common Stock, Shares Outstanding		18,044,478

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 153,425	$ 135,599
Restricted cash		1,830	2,568
Accounts receivable, net of allowances of $420 and $291		25,775	27,066
Due from unconsolidated companies		12,165	12,157
Prepaid expenses and other		12,262	13,310
Inventories		23,931	25,556
Total current assets		229,388	216,256
Property, plant and equipment, net of accumulated depreciation of $368,939 and $343,247		1,074,676	1,078,361
Investments in unconsolidated companies		79,327	71,724
Goodwill		113,343	113,996
Other intangible assets		13,877	13,852
Other assets		13,457	15,286
Total assets	[1]	1,524,068	1,509,475
Liabilities and Equity
Accounts payable		16,366	15,826
Accrued liabilities		69,046	71,653
Deferred revenue		31,350	32,266
Current portion of long-term debt and obligations under capital leases		5,284	5,349
Total current liabilities		122,046	125,094
Long-term debt and obligations under capital leases		585,768	577,543
Liability for pension benefit		1,447	355
Other liabilities		5,366	20,470
Deferred income taxes		122,291	123,910
Liability for uncertain tax positions		318	3,678
Total liabilities	[1]	837,236	851,050
Commitments and contingencies (Note 19)
Shareholders’ equity:
Preferred shares $0.01 par value (30,000,000 shares authorized, issued Nil)		0	0
Additional paid-in capital		979,458	975,419
Retained earnings		52,751	16,172
Accumulated other comprehensive loss		(346,777)	(334,542)
Less: Reduction due to class B common shares owned by a subsidiary — 18,044,478 (2015 - 18,044,478)		(181)	(181)
Total shareholders’ equity		686,450	658,064
Non-controlling interests		382	361
Total equity		686,832	658,425
Total liabilities and equity		1,524,068	1,509,475
Class A common shares
Shareholders’ equity:
Common stock, value		1,018	1,015
Class B common shares
Shareholders’ equity:
Common stock, value		$ 181	$ 181

[1]	Included in Belmond Ltd.’s consolidated assets and liabilities are assets of consolidated variable interest entities (“consolidated VIEs”) that can only be used to settle obligations of the consolidated VIEs and liabilities of consolidated VIEs whose creditors have no recourse to Belmond Ltd. The Company’s only consolidated VIE at December 31, 2016 and December 31, 2015 is Charleston Center LLC. These assets and liabilities at December 31, 2016 and December 31, 2015 are as follows: December 31, 2016 December 31, 2015 $’000 $’000 Assets Cash and cash equivalents 2,233 2,569Accounts receivable, net of allowances of $Nil and $Nil 3,066 2,712Prepaid expenses and other 365 1,232Inventories 1,296 1,231Total current assets 6,960 7,744 Property, plant and equipment, net of accumulated depreciation of $35,902 and $30,260 201,861 201,342Other assets 1,455 1,566Total assets 210,276 210,652 Liabilities Accounts payable 4,558 3,764Accrued liabilities 3,099 2,910Deferred revenue 1,714 2,551Current portion of long-term debt and obligations under capital leases 242 229Total current liabilities 9,613 9,454 Long-term debt and obligations under capital leases 111,968 96,392Other liabilities 40 16,540Total liabilities 121,621 122,386See further description in Note 5, Variable interest entities.

Consolidated Balance Sheets Var

Consolidated Balance Sheets Variable Interest Entities (Parenthetical) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents		$ 153,425	$ 135,599
Accounts receivable, net of allowances of $Nil and $Nil		25,775	27,066
Prepaid expenses and other		12,262	13,310
Inventories		23,931	25,556
Total current assets		229,388	216,256
Property, plant and equipment, net of accumulated depreciation of $35,902 and $30,260		1,074,676	1,078,361
Other assets		13,457	15,286
Total assets	[1]	1,524,068	1,509,475
Liabilities
Accounts payable		16,366	15,826
Accrued liabilities		69,046	71,653
Deferred revenue		31,350	32,266
Current portion of long-term debt and obligations under capital leases		5,284	5,349
Total current liabilities		122,046	125,094
Long-term debt and obligations under capital leases		585,768	577,543
Other liabilities		5,366	20,470
Total liabilities	[1]	837,236	851,050
Variable interest entity, primary beneficiary
Assets
Cash and cash equivalents		2,233	2,569
Accounts receivable, net of allowances of $Nil and $Nil		3,066	2,712
Prepaid expenses and other		365	1,232
Inventories		1,296	1,231
Total current assets		6,960	7,744
Property, plant and equipment, net of accumulated depreciation of $35,902 and $30,260		201,861	201,342
Other assets		1,455	1,566
Total assets		210,276	210,652
Liabilities
Accounts payable		4,558	3,764
Accrued liabilities		3,099	2,910
Deferred revenue		1,714	2,551
Current portion of long-term debt and obligations under capital leases		242	229
Total current liabilities		9,613	9,454
Long-term debt and obligations under capital leases		111,968	96,392
Other liabilities		40	16,540
Total liabilities		$ 121,621	$ 122,386

[1]	Included in Belmond Ltd.’s consolidated assets and liabilities are assets of consolidated variable interest entities (“consolidated VIEs”) that can only be used to settle obligations of the consolidated VIEs and liabilities of consolidated VIEs whose creditors have no recourse to Belmond Ltd. The Company’s only consolidated VIE at December 31, 2016 and December 31, 2015 is Charleston Center LLC. These assets and liabilities at December 31, 2016 and December 31, 2015 are as follows: December 31, 2016 December 31, 2015 $’000 $’000 Assets Cash and cash equivalents 2,233 2,569Accounts receivable, net of allowances of $Nil and $Nil 3,066 2,712Prepaid expenses and other 365 1,232Inventories 1,296 1,231Total current assets 6,960 7,744 Property, plant and equipment, net of accumulated depreciation of $35,902 and $30,260 201,861 201,342Other assets 1,455 1,566Total assets 210,276 210,652 Liabilities Accounts payable 4,558 3,764Accrued liabilities 3,099 2,910Deferred revenue 1,714 2,551Current portion of long-term debt and obligations under capital leases 242 229Total current liabilities 9,613 9,454 Long-term debt and obligations under capital leases 111,968 96,392Other liabilities 40 16,540Total liabilities 121,621 122,386See further description in Note 5, Variable interest entities.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Accounts receivable, allowances	$ 420	$ 291
Property, plant and equipment, accumulated depreciation	$ 368,939	$ 343,247
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	30,000,000	30,000,000
Preferred shares, shares issued (in shares)	0	0
Class A common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	240,000,000	240,000,000
Common shares, shares issued (in shares)	101,793,829	101,447,557
Class B common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	120,000,000	120,000,000
Common shares, shares issued (in shares)	18,044,478	18,044,478
Reduction due to class B common shares owned by a subsidiary (in shares)	18,044,478	18,044,478
Variable interest entity, primary beneficiary
Accounts receivable, allowances	$ 0	$ 0
Property, plant and equipment, accumulated depreciation	$ 35,902	$ 30,260

Statements of Consolidated Oper

Statements of Consolidated Operations - USD ($)		12 Months Ended
Statements of Consolidated Operations - USD ($)		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenue	[1]	$ 549,824,000	$ 551,385,000	$ 585,715,000
Expenses:
Cost of services		240,097,000	243,609,000	262,603,000
Selling, general and administrative		198,590,000	206,197,000	219,584,000
Depreciation and amortization		52,396,000	50,513,000	52,004,000
Impairment of goodwill		0	9,796,000	0
Impairment of property, plant and equipment		1,007,000	0	1,211,000
Total operating costs and expenses		492,090,000	510,115,000	535,402,000
Gain on disposal of property, plant and equipment and equity method investments		938,000	20,275,000	4,128,000
Earnings from operations		58,672,000	61,545,000	54,441,000
Gain/(loss) on extinguishment of debt		1,200,000	0	(14,506,000)
Other income		0	0	1,257,000
Interest income	[2]	853,000	926,000	1,418,000
Interest expense		(29,155,000)	(32,101,000)	(36,767,000)
Foreign currency, net		9,186,000	(5,016,000)	2,262,000
Earnings before income taxes and earnings from unconsolidated companies, net of tax		40,756,000	25,354,000	8,105,000
Provision for income taxes		(16,368,000)	(17,041,000)	(15,542,000)
Earnings/(losses) before earnings from unconsolidated companies, net of tax		24,388,000	8,313,000	(7,437,000)
Earnings from unconsolidated companies, net of tax provision/(benefit) of $5,650, $1,466 and $(702)		11,013,000	9,075,000	9,484,000
Earnings from continuing operations		35,401,000	17,388,000	2,047,000
Net earnings/(losses) from discontinued operations, net of tax provision of $Nil, $Nil and $713		1,032,000	(1,534,000)	(3,782,000)
Net earnings/(losses)		36,433,000	15,854,000	(1,735,000)
Net (earnings)/losses attributable to non-controlling interests		(109,000)	411,000	(145,000)
Net earnings/(losses) attributable to Belmond Ltd.		$ 36,324,000	$ 16,265,000	$ (1,880,000)
Basic earnings per share
Net earnings/(losses) from continuing operations (in dollars per share)		$ 0.348	$ 0.169	$ 0.020
Net earnings/(losses) from discontinued operations (in dollars per share)		0.010	(0.015)	(0.036)
Basic net earnings/(losses) per share attributable to Belmond Ltd. (in dollars per share)		0.357	0.158	(0.017)
Diluted earnings per share
Net earnings/(losses) from continuing operations (in dollars per share)		0.344	0.167	0.019
Net earnings/(losses) from discontinued operations (in dollars per share)		0.010	(0.015)	(0.036)
Diluted net earnings/(losses) per share attributable to Belmond Ltd. (in dollars per share)		$ 0.353	$ 0.156	$ (0.018)

[1]	Includes revenue from related parties of $15,458,000, $13,123,000 and $12,988,000, respectively
[2]	Includes interest income from related parties of $0, $301,000, and $904,000, respectively

Statements of Consolidated Ope6

Statements of Consolidated Operations (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Revenue from related party	$ 15,458	$ 13,123	$ 12,988
Earnings from unconsolidated companies, tax (benefit)/provision	5,650	1,466	(702)
Discontinued operations, tax (benefit)/provision	$ 0	$ 0	$ 713

Statements of Consolidated Comp

Statements of Consolidated Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net earnings/(losses)	$ 36,433	$ 15,854	$ (1,735)
Other comprehensive income/(losses), net of tax:
Foreign currency translation adjustments, net of tax (benefit)/provision of $(809), $Nil and $(462)	(10,848)	(88,457)	(152,155)
Change in fair value of derivatives, net of tax provision/(benefit) of $222, $(352) and $1,503	867	(522)	(188)
Change in pension liability, net of tax (benefit)/provision of $(530),$147 and $(528)	(2,119)	580	(1,926)
Total other comprehensive losses, net of tax	(12,100)	(88,399)	(154,269)
Total comprehensive income/(losses)	24,333	(72,545)	(156,004)
Comprehensive (income)/losses attributable to non-controlling interests	(244)	688	1,021
Comprehensive income/(losses) attributable to Belmond Ltd.	$ 24,089	$ (71,857)	$ (154,983)

Statements of Consolidated Com8

Statements of Consolidated Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax provision/(benefit)	$ (809)	$ 0	$ (462)
Change in fair value of derivatives, tax provision/(benefit)	222	(352)	1,503
Change in pension liability, tax provision/(benefit)	$ (530)	$ 147	$ (528)

Statements of Consolidated Cash

Statements of Consolidated Cash Flows - USD ($)	12 Months Ended
Statements of Consolidated Cash Flows - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net earnings/(losses)	$ 36,433,000	$ 15,854,000	$ (1,735,000)
Less: Net earnings/(losses) from discontinued operations, net of tax	1,032,000	(1,534,000)	(3,782,000)
Net earnings from continuing operations	35,401,000	17,388,000	2,047,000
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	52,396,000	50,513,000	52,004,000
Impairment of goodwill	0	9,796,000	0
Impairment of property, plant and equipment	1,007,000	0	1,211,000
Gain on disposal of property, plant and equipment and equity method investments	(938,000)	(20,275,000)	(4,128,000)
(Gain)/loss on extinguishment of debt	(1,200,000)	0	14,506,000
Earnings from unconsolidated companies, net of tax	(11,013,000)	(9,075,000)	(9,484,000)
Amortization of debt issuance costs and discount on secured term loan	3,044,000	2,903,000	3,921,000
Share-based compensation	6,272,000	6,707,000	7,928,000
Change in provisions for uncertain tax positions	(3,350,000)	279,000	496,000
Benefit from deferred income tax	(305,000)	(124,000)	(11,246,000)
Other non-cash movements	567,000	(1,076,000)	3,950,000
Effect of exchange rates on net earnings/(losses)	(12,258,000)	896,000	(4,518,000)
Change in assets and liabilities, net of effects from acquisitions:
Accounts receivable	1,961,000	(536,000)	1,593,000
Due from unconsolidated companies	(788,000)	1,167,000	(2,784,000)
Prepaid expense and other	668,000	(725,000)	(2,500,000)
Inventories	(504,000)	1,962,000	2,251,000
Escrow and prepaid customer deposits	379,000	(1,284,000)	(615,000)
Accounts payable	877,000	(5,703,000)	3,178,000
Accrued liabilities	245,000	10,127,000	(2,059,000)
Deferred revenue	(1,434,000)	5,877,000	227,000
Other liabilities	(14,121,000)	0	0
Other, net	148,000	(3,008,000)	48,000
Other cash movements:
Dividends from equity method investees	4,449,000	3,649,000	3,725,000
Proceeds from insurance settlements	0	0	887,000
Payment of key money	0	0	(3,000,000)
Payment of swap termination costs	0	0	(3,985,000)
Net cash provided by operating activities from continuing operations	61,503,000	69,458,000	53,653,000
Net cash provided by/(used in) operating activities from discontinued operations	38,000	(1,534,000)	(2,317,000)
Net cash provided by operating activities	61,541,000	67,924,000	51,336,000
Cash flows from investing activities:
Capital expenditure to acquire property, plant and equipment	(55,104,000)	(56,395,000)	(63,454,000)
Capital expenditure to acquire intangible assets	0	(714,000)	(269,000)
Investments in unconsolidated companies	0	(4,061,000)	(4,082,000)
Increase in restricted cash	(6,000)	0	(526,000)
Release of restricted cash	0	519,000	11,324,000
Change in deferred revenue for asset sale deposits	0	(500,000)	(3,500,000)
Proceeds from insurance settlements	0	0	297,000
Proceeds from sale of property, plant and equipment and equity method investments	2,746,000	43,742,000	37,842,000
Net cash used in investing activities from continuing operations	(52,364,000)	(17,409,000)	(22,368,000)
Net cash provided by investing activities from discontinued operations	0	0	0
Net cash used in investing activities	(52,364,000)	(17,409,000)	(22,368,000)
Cash flows from financing activities:
Payments on working capital facilities	0	0	(133,000)
Repurchase of shares	(1,992,000)	(37,565,000)	0
Exercised stock options and vested share awards	17,000	35,000	19,000
Dividend to non-controlling interest	(15,000)	(20,000)	0
Issuance of long-term debt	26,000,000	0	572,046,000
Debt issuance costs	(465,000)	(856,000)	(17,798,000)
Principal payments under long-term debt	(13,904,000)	(5,432,000)	(565,051,000)
Net cash provided by/(used in) financing activities from continuing operations	9,641,000	(43,838,000)	(10,917,000)
Net cash provided by financing activities from discontinued operations	0	0	0
Net cash provided by/(used in) financing activities	9,641,000	(43,838,000)	(10,917,000)
Effect of exchange rate changes on cash and cash equivalents	(992,000)	(6,196,000)	(6,486,000)
Net increase in cash and cash equivalents	17,826,000	481,000	11,565,000
Cash and cash equivalents at beginning of period (includes $Nil, $Nil and $394 of cash presented within assets held for sale)	135,599,000	135,118,000	123,553,000
Cash and cash equivalents at end of period (includes $Nil, $Nil, $Nil of cash presented within assets held for sale)	$ 153,425,000	$ 135,599,000	$ 135,118,000

Statements of Consolidated Ca10

Statements of Consolidated Cash Flows (Parentheticals) - Assets Held-for-sale - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash presented within assets held for sale at beginning of period	$ 0	$ 0	$ 394
Cash presented within assets held for sale at end of period	$ 0	$ 0	$ 0

Statements of Consolidated Tota

Statements of Consolidated Total Equity - USD ($) $ in Thousands	Total	Preferred shares at par value	Common shares at par valueClass A common shares at par value	Common shares at par valueClass B common shares at par value	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income/(loss)	Class B common shares held by a subsidiary	Non-controlling interests
Balance at Dec. 31, 2013	$ 910,645	$ 0	$ 1,036	$ 181	$ 992,860	$ 7,643	$ (93,317)	$ (181)	$ 2,423
Increase (Decrease) in Stockholders' Equity
Share-based compensation	7,928				7,928
Exercised stock options and vested share awards	19		4		15
Dividend to non-controlling interest	(327)								(327)
Comprehensive loss:
Net earnings (losses) attributable to common shares	(1,735)					(1,880)			145
Other comprehensive loss	(154,269)						(153,103)		(1,166)
Balance at Dec. 31, 2014	762,261	0	1,040	181	1,000,803	5,763	(246,420)	(181)	1,075
Increase (Decrease) in Stockholders' Equity
Share-based compensation	6,707				6,707
Exercised stock options and vested share awards	35		8		27
Repurchase of shares	(38,007)		(33)		(32,118)	(5,856)
Dividend to non-controlling interest	(26)								(26)
Comprehensive loss:
Net earnings (losses) attributable to common shares	15,854					16,265			(411)
Other comprehensive loss	(88,399)						(88,122)		(277)
Balance at Dec. 31, 2015	658,425	0	1,015	181	975,419	16,172	(334,542)	(181)	361
Increase (Decrease) in Stockholders' Equity
Share-based compensation	6,272				6,272
Exercised stock options and vested share awards	17		5		12
Repurchase of shares	(1,992)		(2)		(2,245)	255
Dividend to non-controlling interest	(223)								(223)
Comprehensive loss:
Net earnings (losses) attributable to common shares	36,433					36,324			109
Other comprehensive loss	(12,100)						(12,235)		135
Balance at Dec. 31, 2016	$ 686,832	$ 0	$ 1,018	$ 181	$ 979,458	$ 52,751	$ (346,777)	$ (181)	$ 382

Basis of financial statement pr

Basis of financial statement presentation	12 Months Ended
Basis of financial statement presentation	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of financial statement presentation	Basis of financial statement presentation Business In this report Belmond Ltd. is referred to as the “Company”, and the Company and its consolidated subsidiaries are referred to collectively as “Belmond”. On June 30, 2014, the Company changed its name from Orient-Express Hotels Ltd. to Belmond Ltd. following approval by shareholders at the 2014 annual general meeting held on that date. On July 28, 2014, the Company changed the ticker symbol of its class A common shares listed on the New York Stock Exchange from OEH to BEL. At December 31, 2016 , Belmond owned, invested in or managed 34 deluxe hotels and resort properties operating in the United States, Mexico, Caribbean, Europe, Southern Africa, South America, and Southeast Asia, one stand-alone restaurant in New York, seven tourist trains in Europe, Southeast Asia and Peru, two river cruise businesses in Myanmar (Burma) and one canal boat business in France. Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect the results of operations, financial position and cash flows of the Company and all its majority-owned subsidiaries and variable interest entities in which Belmond is the primary beneficiary. The consolidated financial statements have been prepared using the historical basis in the assets and liabilities and the historical results of operations directly attributable to Belmond, and all intercompany accounts and transactions between the Company and its subsidiaries have been eliminated. For entities where the Company does not have a controlling financial interest, the investments in those entities are accounted for using the equity or cost method, as appropriate. Reclassifications Discontinued operations and assets and liabilities held for sale were reclassified in the consolidated financial statements for all periods presented. See Note 4 for a summary of the results of discontinued operations and assets and liabilities held for sale. Belmond revised the order of the presentation of these segments in the year ended December 31, 2016 and included a new sub-total to show management fees earned by the Company. In addition, Belmond reclassified certain expenses associated with the Company’s development team from the Part-owned/managed hotels segment to central costs. Prior periods have been re-presented to reflect the current period presentation. There has not been a material impact on the consolidated financial statements. See Note 23.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
Summary of significant accounting policies	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies “FASB” means Financial Accounting Standards Board. “ASC” means the Accounting Standards Codification of the FASB and “ASU” means an Accounting Standards Update of the FASB. Cash and cash equivalents Cash and cash equivalents include all cash balances and highly-liquid investments having original maturities of three months or less. Restricted cash Restricted cash is the carrying amount of cash and cash equivalents which are bindingly restricted as to withdrawal or usage. These include deposits held as compensating balances against borrowing arrangements or under contracts entered into with others, but exclude compensating balance arrangements that do not legally restrict the use of cash amounts shown on the balance sheet. Concentration of credit risk Due to the nature of the leisure industry, concentration of credit risk with respect to trade receivables is limited. Belmond’s customer base consists of numerous customers across different geographic areas. Inventories Inventories include food, beverages, certain operating stocks and retail goods. Inventories are valued at the lower of cost or market value under the weighted average method. Assets held for sale and discontinued operations Assets held for sale represent assets of an operating entity that are to be disposed of, together as a group in a single transaction, and liabilities directly associated with the assets that will be transferred in the transaction. Belmond considers properties to be assets held for sale when management approves and commits to a formal plan actively to market a property for sale and Belmond has a signed sales contract and received a significant non-refundable deposit. Upon designation as an asset held for sale, Belmond records the carrying value of each property at the lower of its carrying value which includes allocable segment goodwill or its estimated fair value, less estimated costs to sell, and Belmond stops recording depreciation expense. Where there is no significant ongoing involvement, the gain from the sale is recorded at the date of sale. The results of operations of an entity that either has been disposed of or is classified as held for sale are reported in discontinued operations where the operations and cash flows of the entity will be eliminated from continuing operations as a result of the disposal transaction and Belmond will not have any significant continuing involvement in the operations of the entity after the disposal transaction. Property, plant and equipment Property, plant and equipment is stated at cost less accumulated depreciation. The cost of significant renewals and betterments is capitalized and depreciated, while expenditures for normal maintenance and repairs are expensed as incurred. Depreciation expense is computed using the straight-line method over the following estimated useful lives: Description Useful lives Buildings Up to 60 years and 10% residual value Trains Up to 75 years River cruise ship and canal boats 25 years Furniture, fixtures and equipment 3 to 25 years Equipment under capital lease and leasehold improvements Lesser of initial lease term or economic life Land and certain art and antiques are not depreciated. Impairment of long-lived assets Belmond management evaluates the carrying value of long-lived assets for impairment by comparing the expected undiscounted future cash flows of the assets to the net book value of the assets if certain trigger events occur. If the expected undiscounted future cash flows are less than the net book value of the assets, the excess of the net book value over the estimated fair value is charged to current earnings. Fair value is based upon discounted cash flows of the assets at a rate deemed reasonable for the type of asset and prevailing market conditions, sales of similar assets, appraisals and, if appropriate, current estimated net sales proceeds from pending offers. Belmond evaluates the carrying value of long-lived assets based on its plans, at the time, for those assets and such qualitative factors as future development in the surrounding area, status of expected local competition and projected incremental income from renovations. Changes to Belmond’s plans, including a decision to dispose of or change the intended use of an asset, can have a material impact on the carrying value of the asset. Investments Investments include equity interests in and advances to unconsolidated companies and are accounted for under the equity method of accounting when Belmond has a 20% to 50% ownership interest or exercises significant influence over the investee. Under the equity method, the investment in the equity method investee or joint venture is initially recognized in the consolidated balance sheet at cost and adjusted thereafter to recognize Belmond’s share of net earnings or losses and other comprehensive income or loss of the investee. Belmond continues to report losses up to its investment carrying amount, including any additional financial support made or committed to by Belmond. Belmond’s share of earnings or losses is included in the determination of net earnings, and net investment in investees and joint ventures is included within investments in unconsolidated companies in the consolidated balance sheets. Investments accounted for using the equity method are considered impaired when a loss in the value of the equity method investment is other than temporary. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain its earnings capacity that would justify the carrying amount of the investment. If Belmond determines that the decline in value of its investment is other than temporary, the carrying amount of the investment is written down to its fair value through earnings. Goodwill Goodwill is not amortized but is tested for impairment at least annually or more frequently if events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value. Belmond's annual goodwill impairment testing date is October 1. To test goodwill for impairment, Belmond first compares the carrying value of each reporting unit to its fair value to determine if an impairment is indicated. The fair value of reporting units is determined using internally developed discounted future cash flow models, which incorporate third party appraisals and industry/market data (to the extent available). If an impairment is indicated, Belmond compares the implied fair value of the reporting unit's goodwill to its carrying amount. An impairment loss is measured as the excess of the carrying value of a reporting unit's goodwill over its implied fair value. When determining the fair value of a reporting unit, Belmond is required to make significant judgments that Belmond believes are reasonable and supportable considering all available internal and external evidence at the time. However, these estimates and assumptions are, by their nature, highly judgmental. Fair value determinations are sensitive to changes in the underlying assumptions and factors including those relating to estimating future operating cash flows to be generated from the reporting unit which are dependent upon internal forecasts and projections developed as part of Belmond’s routine, long-term planning process, available industry/market data (to the extent available), Belmond’s strategic plans, estimates of long-term growth rates taking into account Belmond’s assessment of the current economic environment and the timing and degree of any economic recovery, estimation of the useful life over which the cash flows will occur, and market participant assumptions. The assumptions with the most significant impact to the fair value of the reporting unit are those related to future operating cash flows which are forecast for a five -year period from management’s budget and planning process, the terminal value which is included for the period beyond five years from the balance sheet date based on the estimated cash flow in the fifth year and a terminal growth rate ranging from 1.2% to 4.9% ( December 31, 2015 - 2.7% to 7.4% ), and pre-tax discount rates which for the year ended December 31, 2016 range from 7.5% to 16.7% ( December 31, 2015 - 8.3% to 16.9% ). Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair values of Belmond’s reporting units may include such items as (i) a prolonged weakness in the general economic conditions in which the reporting units operate and therefore negatively impacting occupancy and room rates, (ii) an economic recovery that significantly differs from Belmond’s assumptions in timing and/or degree, (iii) volatility in the equity and debt markets which could result in a higher discount rate, (iv) shifts or changes in future travel patterns from Belmond’s significant demographic markets that have not been anticipated, (v) changes in competitive supply, (vi) political and security instability in countries where Belmond operates and (vii) deterioration of local economies due to the uncertainty over currencies or currency unions and other factors which could lead to changes in projected cash flows of Belmond’s properties as customers reduce their discretionary spending. If the assumptions used in the impairment analysis are not met or materially change, Belmond may be required to recognize additional goodwill impairment losses which may be material to the financial statements. Other intangible assets Trade names have an indefinite life and therefore are not amortized, but are assessed for impairment annually or when events indicate that impairment may have occurred. Other intangible assets with definite useful lives are tested for impairment if events or changes in circumstances indicate that the asset may be impaired. Belmond uses internally developed discounted future cash flow models in determining the fair value of indefinite-lived intangible assets. Favorable lease intangible assets are amortized over the terms of the leases, which are between 19 and 60 years . Internet sites are amortized over a period of five to ten years . Variable interest entities Belmond analyzes its variable interests, including loans, guarantees and equity investments, to determine if an entity is a variable interest entity (“VIE”). In that assessment, Belmond's analysis includes both quantitative and qualitative considerations. Belmond bases its quantitative analysis on the forecast cash flows of the entity, and its qualitative analysis on a review of the design of the entity, organizational structure including decision-making ability, and relevant financial agreements. Belmond also uses its quantitative and qualitative analysis to determine if Belmond is the primary beneficiary and would therefore be required to consolidate the VIE. Fair value measurements Assets and liabilities carried at fair value are required to be classified and disclosed in one of three categories: Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date, Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, and Level 3 — unobservable inputs for the asset or liability. Belmond reviews its fair value hierarchy classifications quarterly. Changes in significant observable valuation inputs identified during these reviews may trigger reclassification of fair value hierarchy levels of financial assets and liabilities. These reclassifications are reported as transfers at their fair values at the beginning of the period in which the change occurs and as transfers out at their fair values at the end of the period. Derivatives are recorded in the consolidated balance sheets at fair value. The fair value of Belmond’s derivative financial instruments is computed based on an income approach using appropriate valuation techniques including discounting future cash flows and other methods that are consistent with accepted economic methodologies for pricing financial instruments. The valuation process for the derivatives uses observable market data provided by third-party sources. Interest rate swaps are valued by using yield curves derived from observable interest rates to project future swap cash flows and then these cash flows are discounted back to present values. Interest rate caps are valued using a model that projects the probability of various levels of interest rates occurring in the future using observable volatilities. In the determination of fair value of derivative instruments, a credit valuation adjustment is applied to Belmond’s derivative exposures to take into account the risk of the counterparty defaulting with the derivative in an asset position and, when the derivative is in a liability position, the risk that Belmond may default. The credit valuation adjustment is calculated by determining the total expected exposure of the derivatives (incorporating both the current and potential future exposure) and then applying each counterparty’s credit spread to the applicable exposure. For interest rate swaps, Belmond’s own credit spread is applied to the counterparty’s exposure to Belmond and the counterparties credit spread is applied to Belmond’s exposure to the counterparty, and then the net credit valuation adjustment is reflected in the determination of the fair value of the derivative instrument. The credit spreads used as inputs in the fair value calculations represent implied credit default swaps obtained from a third-party credit data provider. Some of the inputs into the credit valuation adjustment are not observable and, therefore, they are considered to be Level 3 inputs. Where the credit valuation adjustment exceeds 20% of the fair value of the derivatives, Level 3 inputs are assumed to have a significant impact on the fair value of the derivatives in their entirety and the derivative is classified as Level 3. Derivative financial instruments Derivative instruments are recorded on the consolidated balance sheets at fair value. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in other comprehensive income/(loss) and is subsequently reclassified into earnings in the period that the hedged forecast transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. If a derivative instrument is not designated as a hedge for accounting purposes, the fluctuations in the fair value of the derivative are recorded in earnings. Belmond management formally documents all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. Belmond links all hedges that are designated as fair value hedges to specific assets or liabilities on the consolidated balance sheets or to specific firm commitments. Belmond links all hedges that are designated as cash flow hedges to forecasted transactions or to floating rate liabilities on the balance sheets. Belmond management also assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are designated in hedging relationships are highly effective in offsetting changes in fair values or cash flows of hedged items. Belmond discontinues hedge accounting prospectively when the derivative is not highly effective as a hedge, the underlying hedged transaction is no longer probable, or the hedging instrument expires, is terminated, or exercised. Belmond is exposed to interest rate risk on its floating rate debt and management uses derivatives to manage the impact of interest rate changes on earnings and cash flows. Belmond’s objective in using interest rate derivatives is to add certainty and stability to its interest expense. To accomplish this objective, Belmond primarily uses interest rate swaps as part of its interest rate risk management strategy. These swaps effectively convert the floating rate interest payments on a portion of the outstanding debt into fixed payments. Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or loss on the hedging instrument relating to the effective portion of the hedge is recorded in other comprehensive income/(loss) within foreign currency translation adjustment. The gain or loss relating to the ineffective portion will be recognized immediately in earnings within foreign currency, net. Gains and losses deferred in accumulated other comprehensive income/(loss) are recognized in earnings upon disposal of the foreign operation. Belmond links all hedges that are designated as net investment hedges to specifically identified net investments in foreign subsidiaries. Belmond has net assets denominated in a variety of currencies. It hedges the U.S. dollar value of euro net assets by using net investment hedges. Pensions Belmond’s primary defined benefit pension plan is accounted for using actuarial valuations. Net funded status is recognized on the consolidated balance sheets and any unrecognized prior service costs or actuarial gains and losses are reported as a component of other comprehensive income/(loss) in shareholders’ equity. In determining the expected long-term rate of return on assets, management has reviewed anticipated future long-term performance of individual asset classes and the appropriate asset allocation strategy given the anticipated requirements of the plan to determine the average rate of earnings expected on the funds invested. The projected returns are based on broad equity and bond indices, including fixed interest rate gilts (United Kingdom Government issued securities) of long-term duration since the plan operates in the U.K. Management continues to monitor and evaluate the level of pension contributions based on various factors that include investment performance, actuarial valuation and tax deductibility. Share-based compensation Equity-settled transactions The cost of equity-settled transactions with employees is measured by reference to the fair value at the date on which equity instruments are granted and is recognized as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. Estimates of the grant date fair value of share options and the fair value of deferred shares and restricted shares without performance criteria on the grant date were made using the Black-Scholes option pricing model, and estimates of the grant date fair value of deferred shares with performance criteria and market conditions were made using the Monte Carlo valuation model. For awards with market conditions, the conditions are incorporated into the fair value measurement and the compensation value is not adjusted if the conditions are not met. For awards with performance conditions, compensation expense is recognized when it becomes probable that the performance criteria specified in the awards will be achieved and, accordingly, the compensation value is adjusted following the changes in the estimates of shares likely to vest based on the performance criteria. Expected volatilities are based on historical volatility of the Company’s class A common share price and other factors. The risk-free rate for periods within the expected life is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life represents the period that share-based awards are expected to be outstanding and was determined using historical experience, giving consideration to the contractual terms of the share-based awards and vesting schedules. At each balance sheet date before the share-based award vests, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management’s best estimate of the achievement or otherwise of non-market conditions and the number of equity instruments that will ultimately vest or, in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognized in the consolidated statements of operations, with a corresponding entry in equity. Previously recognized compensation cost is not reversed if an employee share option for which the requisite service has been rendered expires unexercised (or unconverted). If stock options are forfeited, then the compensation expense accrued is reversed. Prior to December 31, 2016, Belmond did not estimate a future forfeitures rate and did not incorporate it into the grant value on issue of the awards on the grounds of materiality. As of December 31, 2016 Belmond adopted new guidance and made an accounting policy election to allow the recognition of the effects of forfeitures in compensation cost when they occur. Estimates Belmond bases its estimates on historical experience and also on assumptions that Belmond believes are reasonable based on the relevant facts and circumstances of the estimate. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates include, among others, the allowance for doubtful accounts, fair value of derivative instruments, estimates for determining the fair value of goodwill, long-lived and other intangible asset impairment, share-based compensation, depreciation and amortization, carrying value of assets including intangible assets, employee benefits, taxes, and contingencies. Actual results may differ from those estimates. Revenue recognition Hotel and restaurant revenue is recognized when the rooms are occupied and the services are performed. Train and cruise revenue is recognized upon commencement of the journey. Revenue under management contracts is recognized based upon on an agreed base fee and additional revenue is recognized on the attainment of certain financial results, primarily revenue and operating earnings, in each contract as defined. Deferred revenue consisting of deposits paid in advance is recognized as revenue when the services are performed for hotels and restaurants and upon commencement of train and cruise journeys. Marketing costs Marketing costs are expensed as incurred, and are reported in selling, general and administrative expenses. Marketing costs include costs of advertising and other marketing activities. These costs were $38,361,000 in 2016 ( 2015 - $40,381,000 ; 2014 - $42,251,000 ). Interest expense Capitalized interest during the construction of qualifying assets is capitalized and included in the cost of the asset. Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are deferred and amortized to interest expense over the term of the related debt. Foreign currency The functional currency for each of Belmond’s operating subsidiaries is the applicable local currency, except for properties in French West Indies, Peru, Cambodia, Myanmar and one property in Mexico, where the functional currency is U.S. dollars. For foreign subsidiaries with a functional currency other than the U.S. dollar, income and expenses are translated into U.S. dollars, the reporting currency of Belmond, at the average rates of exchange prevailing during the year. The assets and liabilities are translated into U.S. dollars at the rates of exchange on the balance sheet date and the related translation adjustments are included in other comprehensive income/(loss). Translation adjustments arising from intercompany financing of a subsidiary that is considered to be long-term in nature are also recorded in other comprehensive income/(loss) as they are considered part of the net investment in the subsidiary. Transactions in currencies other than an entity’s functional currency (foreign currencies) are recorded at the exchange rates prevailing on the dates of the transactions. All monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates prevailing at the reporting date. Non-monetary items carried at historical cost are translated at the exchange rate prevailing on the date of transaction. Exchange differences arising from changes in exchange rates are recognized in earnings as they occur. Prior to 2014, Belmond’s Brazilian operations used the U.S. dollar as their functional currency. Effective January 1, 2014, Belmond changed the functional currency to the Brazilian real. Belmond believes that the growth in the Brazilian operations’ real-denominated revenues and expenses indicated a change in the economic facts and circumstances that justified the change in the functional currency. A foreign currency translation adjustment loss of $49,356,000 arising on the remeasurement of non-monetary assets and liabilities of Belmond’s Brazilian operations, of which the majority related to property, plant and equipment, is included in other comprehensive losses for the year ended December 31, 2014. Income taxes Belmond accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of transactions and events that have been recognized in the financial statements but have not yet been reflected in Belmond’s income tax returns, or vice versa. Deferred income taxes result from temporary differences between the carrying value of assets and liabilities recognized for financial reporting purposes and their respective tax bases. Deferred taxes are measured at enacted statutory rates and are adjusted in the period enacted rates change. All deferred tax assets and liabilities are classified as non-current and are netted according to tax-paying component and jurisdiction. In evaluating Belmond’s ability to recover deferred tax assets within the jurisdiction in which they arise, management considers all available evidence, both positive and negative, which includes reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. Management reassesses the need for valuation allowances at each reporting date. Any increase or decrease in a valuation allowance will increase or reduce respectively the income tax expense in the period in which there has been a change in judgment. Income tax positions must meet a more-likely-than-not threshold to be recognized in the financial statements. Management recognizes tax liabilities in accordance with ASC 740 applicable to uncertain tax positions, and adjusts these liabilities when judgment changes as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from Belmond’s estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which the new information becomes available, actual tax liabilities are determined or the statute of limitations has expired. Belmond recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. Liabilities for uncertain tax benefits are included in the consolidated balance sheets and classified as current or non-current liabilities depending on the expected timing of payment. Earnings from unconsolidated companies Earnings from unconsolidated companies include Belmond’s share of the net earnings of its equity investments. Earnings per share Basic earnings per share are based upon net earnings/(losses) attributable to Belmond divided by the weighted average number of class A and B common shares outstanding for the period. Diluted earnings/(losses) per share reflect the increase in shares using the treasury stock method to reflect the impact of an equivalent number of shares as if share options were exercised and share-based awards were converted into common shares. Potentially dilutive shares are excluded when the effect would be to increase diluted earnings per share or reduce diluted losses per share. Accounting pronouncements adopted during the year In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted. Some elements of the new guidance are applicable on a prospective basis, some elements on a retrospective basis and some using a modified retrospective transition method. Belmond has early adopted this guidance as of December 31, 2016. The adoption of this guidance did not have a material effect on Belmond’s consolidated financial statements. Accounting pronouncements to be adopted In May 2014, the FASB issued new guidance which is intended to improve the comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. The guidance supersedes existing revenue recognition guidance and requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Entities will have the option of using either a full retrospective approach or a modified approach to adopt the new guidance. In March 2016, the FASB issued additional guidance which amends the principal-versus-agent implementation guidance and illustrations in the original accounting pronouncement. In May 2016, the FASB issued an update that clarified guidance in certain narrow aspects of the topic. The guidance was originally effective for annual and interim periods beginning after December 15, 2016, however in July 2015 the FASB confirmed that the effective date would be deferred by one year, to annual and interim periods beginning after December 15, 2017. Early adoption is permitted only for periods beginning after December 15, 2016. Belmond is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, the FASB issued its new standard on accounting for leases, which introduces a lessee model that brings most leases on the balance sheet. A distinction between finance leases and operating leases is retained, with the result that the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous lease guidance. The guidance is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Belmond is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In August 2016, the FASB issued new guidance which clarifies the classification of certain cash receipts and payments in the statement of cash flows. The guidance is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. The new guidance will be applied on a retrospective basis where applicable. Belmond is currently evaluating the impact, if any, of the adoption of this guidance on its consolidated financial statements. In October 2016, the FASB issued new guidance which is intended to simplify the tax consequences of certain types of intra-entity asset transfers. The guidance is effective for annual periods ending after December 15, 2017, and interim periods thereafter, with early adoption permitted. The new guidance will be applied on a modified retrospective basis. Belmond is currently evaluating the impact of the

Earnings per share

Earnings per share	12 Months Ended
Earnings per share	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings per share	Earnings per share The calculation of basic and diluted earnings per share including a reconciliation of the numerator and denominator is as follows: Year ended December 31, 2016 2015 2014 Numerator ($'000) Net earnings/(losses) from continuing operations 35,401 17,388 2,047 Net earnings/(losses) from discontinued operations 1,032 (1,534 ) (3,782 ) Net losses/(earnings) attributable to non-controlling interests (109 ) 411 (145 ) Net earnings/(losses) attributable to Belmond Ltd. 36,324 16,265 (1,880 ) Denominator (shares '000) Basic weighted average shares outstanding 101,586 103,163 103,837 Effect of dilution 1,369 1,193 2,291 Diluted weighted average shares outstanding 102,955 104,356 106,128 $ $ $ Basic earnings per share Net earnings/(losses) from continuing operations 0.348 0.169 0.020 Net earnings/(losses) from discontinued operations 0.010 (0.015 ) (0.036 ) Net losses/(earnings) attributable to non-controlling interests (0.001 ) 0.004 (0.001 ) Net earnings/(losses) attributable to Belmond Ltd. 0.357 0.158 (0.017 ) Diluted earnings per share Net earnings/(losses) from continuing operations 0.344 0.167 0.019 Net earnings/(losses) from discontinued operations 0.010 (0.015 ) (0.036 ) Net losses/(earnings) attributable to non-controlling interests (0.001 ) 0.004 (0.001 ) Net earnings/(losses) attributable to Belmond Ltd. 0.353 0.156 (0.018 ) The total number of share options and share-based awards excluded from computing diluted earnings per share were as follows: Year ended December 31, 2016 2015 2014 Share options 1,679,817 1,441,972 810,500 Total 1,679,817 1,441,972 810,500 The number of share options and share-based awards unexercised at December 31, 2016 was 3,904,614 ( 2015 - 3,950,794 ; 2014 - 5,157,292 ).

Assets held for sale and discon

Assets held for sale and discontinued operations	12 Months Ended
Assets held for sale and discontinued operations	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Assets held for sale and discontinued operations	Assets held for sale and discontinued operations At December 31, 2016 and 2015 , no assets and liabilities were classified as held for sale. For the years ended December 31, 2016 , 2015 and 2014 , the results of operations of Ubud Hanging Gardens, Bali, Indonesia and the Porto Cupecoy development on the Dutch side of St Martin, French West Indies have been presented as discontinued operations. During the year ended December 31, 2016 , a sale was completed on the property, plant and equipment relating to the trains and carriages that were formerly operated as the Great South Pacific Express in Queensland, Australia. During the year ended December 31, 2014, a sale was completed on one condominium relating to Porto Cupecoy on the Dutch side of St Martin. Also, during the year ended December 31, 2014, Inn at Perry Cabin by Belmond, St Michaels, Maryland was sold. Due to Belmond's continuing involvement in managing the hotel, its results are presented within continuing operations. (a) Properties sold: Inn at Perry Cabin by Belmond and Great South Pacific Express On the April 19, 2016, Belmond completed the sale of the property, plant and equipment relating to the trains and carriages that were formerly operated as the Great South Pacific Express in Queensland, Australia for consideration of $2,362,400 to the Company’s PeruRail joint venture. The carriages were sold at their carrying value and no gain or loss arose on disposal. On March 21, 2014, Belmond completed the sale of the property and operations of Inn at Perry Cabin by Belmond for consideration of $39,700,000 , of which $25,680,000 was paid in cash, $11,020,000 was settled directly with the lender to repay the debt facility secured by the property. In addition, $3,000,000 was a key money contribution from Belmond to the buyer to be used for agreed capital enhancements. Belmond will continue to operate the hotel for the new owner under a management agreement with a ten -year term that permits termination on the fifth anniversary of the agreement. The disposal resulted in a gain of $6,704,000 , of which $3,704,000 was recognized on completion on March 21, 2014 and $3,000,000 was deferred to be recognized over the initial period of the management agreement. The gain on sale of $3,704,000 recognized on March 21, 2014 and the subsequent release of the deferred gain is reported within gain on disposal of property, plant and equipment and equity method investments in the statements of consolidated operations. The following is a summary of net assets sold and the gain recorded on sale for Inn at Perry Cabin by Belmond: Year ended December 31, 2014 Inn at Perry Cabin by Belmond March 21, $'000 Property, plant & equipment 32,293 Net working capital deficit (820 ) Net assets 31,473 Consideration: Cash 25,680 Reduction in debt facility on sale of hotel 11,020 Key money retained by buyer 3,000 Less: Working capital adjustment (1,130 ) Less: Costs to sell (393 ) 38,177 Gain on sale 6,704 (b) Results of discontinued operations Belmond had been operating the hotel Ubud Hanging Gardens under a long-term lease arrangement with a third-party owner. The existing lease arrangement continues to 2030. Following the owner's unannounced dispossession of Belmond from the hotel in November 2013, however, Belmond was unable to continue to operate the hotel. Belmond believed that the owner's actions were unlawful and constituted a wrongful dispossession and has pursued its legal remedies under the lease. See Note 19. As Belmond is unable to operate Ubud Hanging Gardens for the foreseeable future, the hotel has been presented as a discontinued operation for all periods shown. The assets and liabilities of the hotel have not been classified as held for sale, as the hotel has not been disposed of through a sale transaction. The Porto Cupecoy development was sold in January 2013, with the final unit disposed of in September 2014. Revenue and residual costs relating to the sale of Porto Cupecoy are presented within discontinued operations for all periods shown. Summarized results of the properties classified as discontinued operations for the years ended December 31, 2016 , 2015 and 2014 are as follows: Year ended December 31, 2016 Ubud Hanging Gardens Porto Cupecoy Total $'000 $'000 $'000 Revenue — — — Earnings before tax, gain on sale and impairment 69 963 1,032 Earnings before tax 69 963 1,032 Net earnings from discontinued operations 69 963 1,032 Year ended December 31, 2015 Ubud Hanging Gardens Porto Cupecoy Total $'000 $'000 $'000 Revenue — — — Losses before tax, gain on sales and impairment (636 ) (898 ) (1,534 ) Losses before tax (636 ) (898 ) (1,534 ) Net losses from discontinued operations (636 ) (898 ) (1,534 ) Year ended December 31, 2014 Ubud Hanging Gardens Porto Cupecoy Total $'000 $'000 $'000 Revenue — 600 600 Losses before tax, gain on sale and impairment (1,486 ) (1,583 ) (3,069 ) Losses before tax (1,486 ) (1,583 ) (3,069 ) Tax provision (713 ) — (713 ) Net losses from discontinued operations (2,199 ) (1,583 ) (3,782 ) The results of discontinued operations for the year ended December 31, 2016 included earning of $69,000 due to the partial release of legal fee accruals in relation to Ubud Hanging Gardens, where Belmond is pursuing legal remedies following its dispossession by the owner in November 2013. In addition, the results of discontinued operations for the year ended December 31, 2016 included earnings of $963,000 at Porto Cupecoy due to the release of a provision in respect of tax claims that Belmond believes it is now effectively discharged from. See Note 19. The results of discontinued operations for the years ended December 31, 2015 and 2014 comprised legal fees of $636,000 and $1,486,000 , respectively, in relation to Ubud Hanging Gardens.

Variable interest entities

Variable interest entities	12 Months Ended
Variable interest entities	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable interest entities	Variable interest entities (a) VIEs of which Belmond is the primary beneficiary Belmond holds a 19.9% equity investment in Charleston Center LLC, owner of Belmond Charleston Place, Charleston, South Carolina. Belmond has also made a number of loans to the hotel. Belmond concluded that Charleston Center LLC is a VIE because the total equity at risk is insufficient for the entity to fund its operations without additional subordinated financial support, the majority of which has been provided by Belmond. Belmond is the primary beneficiary of this VIE because it is expected to absorb a majority of the VIE’s expected losses and residual gains through the subordinated financial support it has provided, and has the power to direct the activities that impact the VIE’s performance, based on the current organizational structure. Assets of Charleston Center LLC that can only be used to settle obligations of the consolidated VIEs and liabilities of Charleston Center LLC whose creditors have no recourse to Belmond Ltd are presented as a footnote to the consolidated balance sheets. The third-party debt of Charleston Center LLC is secured by its net assets and is non-recourse to its members, including Belmond. The hotel's separate assets are not available to pay the debts of Belmond and the hotel's separate liabilities do not constitute obligations of Belmond. The assets of Charleston Center LLC that can only be used to settle obligations of Charleston Center LLC totaled $210,276,000 at December 31, 2016 ( December 31, 2015 - $210,652,000 ) and exclude goodwill of $40,395,000 ( December 31, 2015 - $40,395,000 ). The liabilities of Charleston Center LLC for which creditors do not have recourse to the general credit of Belmond totaled $121,621,000 ( December 31, 2015 - $122,386,000 ). All deferred taxes attributable to Belmond’s investment in the LLC arise at the investor level and are therefore not included in the footnote to the consolidated balance sheets. (b) VIEs of which Belmond is not the primary beneficiary Belmond holds a 25% equity investment in Eastern and Oriental Express Ltd., which operates the Eastern & Oriental Express luxury tourist train in Southeast Asia. Belmond concluded that the Eastern & Oriental Express joint venture is a variable interest entity because the total equity at risk is insufficient for it to fund its operations without additional subordinated financial support. The joint venture does not have a primary beneficiary because no one party has the power to direct the activities that most significantly impact the economic performance of the entity. The joint venture is accounted for under the equity method of accounting and included in earnings/(losses) before income taxes and earnings from unconsolidated companies in the statements of consolidated operations. The carrying amounts and maximum exposure to loss as a result of Belmond's involvement with its Eastern & Oriental Express joint venture are as follows: Carrying amounts Maximum exposure 2016 2015 2016 2015 December 31, $’000 $’000 $’000 $’000 Investment 2,818 2,972 2,818 2,972 Due from unconsolidated company 4,771 4,872 4,771 4,872 Guarantees — — — — Contingent guarantees — — — — Total 7,589 7,844 7,589 7,844 (c) Former VIEs Belmond holds a 50% equity investment in its rail joint venture in Peru which operates the infrastructure, rolling stock, stations and services on a portion of the state-owned railways in Peru. Belmond previously concluded that the PeruRail joint venture was a variable interest entity because the total equity at risk was insufficient for it to fund its operations without additional subordinated financial support. The joint venture is under joint control as all significant budgetary and capital decisions require a majority of approval of the joint venture's board of directors, on which board Belmond holds two of four seats with the other two seats representing unaffiliated local Peruvian investors. Previously, Belmond had guaranteed certain debt obligations of the joint venture. The guaranteed debt was repaid with non-guaranteed debt in the year ended December 31, 2015. Belmond concluded that this constituted a change in the design of the entity and reconsidered its initial determination of the entity’s VIE status. Belmond concluded that the joint venture now qualifies for the scope exceptions contained within U.S. GAAP to be excluded from consideration under the VIE guidance. The joint venture is accounted for under the equity method of accounting and included in earnings/(losses) before income taxes and earnings from unconsolidated companies in the statements of consolidated operations.

Investments in unconsolidated c

Investments in unconsolidated companies	12 Months Ended
Investments in unconsolidated companies	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Investments in unconsolidated companies	Investments in unconsolidated companies Investments in unconsolidated companies represent equity interests of 50% or less and in which Belmond exerts significant influence, but does not have effective control of these unconsolidated companies and, therefore, accounts for these investments using the equity method. As at December 31, 2016 , these investments include the 50% ownership in rail and hotel joint venture operations in Peru, the 25% ownership in Eastern and Oriental Express Ltd, and the Buzios land joint venture which is 50% owned and further described below. In June 2007, a joint venture in which Belmond holds a 50% equity interest acquired real estate in Buzios, a beach resort area in Brazil, for a cash consideration of $5,000,000 . Belmond planned to build a hotel and villas on the acquired land and to purchase the remaining share of the joint venture company when the building permits were obtained from the local authorities. In February 2009, the Municipality of Buzios commenced a process for the expropriation of the land in exchange for a payment of fair compensation to the joint venture. In April 2011, the State of Rio de Janeiro took over the expropriation process as part of a broader State plan to develop a large environmental park. Under applicable law, the State had five years to carry out the expropriation in exchange for fair value, which it has failed to do by the April 18, 2016 deadline. As a result, the land returns unencumbered to the joint venture, although it can be subject to expropriation again after a period of one year. The Company and its joint venture partner are assessing their options, including negotiation with or litigation against the State to seek a permanent resolution of the status of the land, but in any case, the Company expects to recover its investment in the project. On May 21, 2015, Belmond sold its 50% ownership in Hotel Ritz by Belmond, Madrid, Spain. Belmond and its joint venture partner sold the shares in the entity that owns the hotel for gross proceeds of €130,000,000 ( $144,529,000 at date of sale). As a condition of the sale, Belmond’s management contract with Hotel Ritz by Belmond was terminated, resulting in the receipt of a termination fee of $2,292,000 . The following table shows the net proceeds to Belmond and a summary of net assets sold, resulting in a gain of $19,676,000 that is reported within gain on disposal of property, plant and equipment and equity method investments in the statements of consolidated operations: Hotel Ritz by Belmond May 21, $'000 Receivables due from unconsolidated companies 29,679 Investments in unconsolidated companies — Net assets sold 29,679 Transfer of foreign currency translation gain (5,613 ) 24,066 Consideration: Cash 42,197 Less: Costs to sell (747 ) Plus: Management contract termination fee 2,292 43,742 Gain on sale 19,676 Summarized financial data for Belmond’s unconsolidated companies are as follows: 2016 2015 December 31, $’000 $’000 Current assets 96,247 59,372 Property, plant and equipment, net of accumulated depreciation 295,662 207,469 Other non-current assets 29,442 30,643 Non-current assets 325,104 238,112 Total assets 421,351 297,484 Current liabilities, including $21,021 and $19,171 current portion of third-party debt 89,785 86,092 Long-term debt 153,876 48,681 Other non-current liabilities 27,545 26,540 Non-current liabilities 181,421 75,221 Total shareholders’ equity 150,145 136,171 Total liabilities and shareholders’ equity 421,351 297,484 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Revenue 191,551 160,614 172,793 Gross profit 1 135,000 104,708 105,333 Net earnings 2 21,720 17,723 19,622 1 Gross profit is defined as revenues less cost of services of the unconsolidated companies. 2 There were no discontinued operations, extraordinary items or cumulative effects of a change in an accounting principle in the unconsolidated companies. Included in unconsolidated companies are Belmond’s hotel and rail joint ventures in Peru, under which Belmond and the other 50% participant must contribute equally additional equity needed for the businesses. If the other participant does not meet this obligation, Belmond has the right to dilute the other participant and obtain a majority equity interest in the affected joint venture company. Belmond also has rights to purchase the other participant’s interests, which rights are exercisable in limited circumstances such as the other participant’s bankruptcy. There are contingent guarantees to unconsolidated companies which are not recognized in the consolidated financial statements. The contingent guarantees for each Peruvian joint venture may only be enforced in the event there is a change in control of the relevant joint venture, which would occur only if Belmond’s ownership of the economic and voting interests in the joint venture falls below 50% , an event which has not occurred and is not expected to occur. As at December 31, 2016 , Belmond does not expect that it will be required to fund these guarantees relating to these joint venture companies. Belmond has contingently guaranteed, through 2020 , $17,734,000 of debt obligations of the joint venture in Peru that operates four hotels and has contingently guaranteed the Peru rail joint venture’s obligations relating to the performance of its governmental rail concessions, currently in the amount of $7,261,000 , through May 2017 . At December 31, 2014 , Belmond guaranteed $4,124,000 of the debt obligations of the rail joint venture in Peru. The guaranteed debt was repaid by the joint venture in the year ended December 31, 2015 . See Note 5.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
Property, plant and equipment	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, plant and equipment	Property, plant and equipment The major classes of property, plant and equipment are as follows: 2016 2015 December 31, $’000 $’000 Land and buildings 1,010,362 994,382 Machinery and equipment 179,537 182,510 Furniture, fixtures and equipment 235,098 225,943 River cruise ship and canal boats 18,618 18,773 1,443,615 1,421,608 Less: Accumulated depreciation (368,939 ) (343,247 ) Total property, plant and equipment, net of accumulated depreciation 1,074,676 1,078,361 The depreciation charge on property, plant and equipment of continuing operations for the year ended December 31, 2016 was $51,835,000 ( 2015 - $49,982,000 ; 2014 - $51,629,000 ). The table above includes the property, plant and equipment of Charleston Center LLC, a consolidated VIE, of $201,861,000 ( 2015 - $201,342,000 ). See Note 5. There was no capitalized interest in the year ended December 31, 2016 ( 2015 - $Nil ; 2014 - $Nil ). During the year ended December 31, 2016 , Belmond considered whether the decline in performance of Belmond Orcaella, a cruise ship in Myanmar under long-term charter, caused by increased competition in Myanmar indicated that the carrying amount of the business' fixed assets may not be recoverable. Belmond concluded that an impairment trigger existed and an impairment test was required. The carrying value of assets was written down to fair value based on management’s best estimate of the recoverable value. The impairment charge of $1,007,000 is included within impairment of property, plant and equipment in the statements of consolidated operations. During the year ended December 31, 2016 , Belmond considered whether the decline in performance of Belmond Northern Belle caused by a reduction in passenger numbers sourced mainly from regional markets in the U.K. indicated that the carrying amount of Belmond Northern Belle's fixed assets may not be recoverable. Under the first step of the fixed assets impairment test, the sum of the undiscounted cash flows expected to result from the operations of Belmond Northern Belle was in excess of its carrying value. Belmond Northern Belle had a property, plant and equipment balance of $4,332,000 at December 31, 2016 . The impairment test remains sensitive to changes in assumptions; factors that could reasonably be expected to potentially have an adverse effect on the sum of the undiscounted cash flows of the reporting unit include the future operating projections of the train, particularly passenger numbers and ticket prices, and any deterioration in the U.K. regional economy. Any failure to meet these assumptions may result in an impairment charge that would write down the carrying value of assets to fair value in future periods. There were no impairments of property, plant and equipment in the year ended December 31, 2015 . In the year ended December 31, 2014 , Belmond identified and recorded a non-cash property, plant and equipment impairment charge of $1,211,000 relating to the write-down to fair value of train carriages of Belmond's former Great South Pacific Express train, which were held in Australia and not in service. The impairment charge was included within impairment of property, plant and equipment in the statements of consolidated operations.

Goodwill

Goodwill	12 Months Ended
Goodwill	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 are as follows: Beginning balance at January 1, 2016 Ending balance at December 31, 2016 Gross goodwill amount Accumulated impairment Net goodwill amount Impairment Foreign currency translation adjustment Gross goodwill amount Accumulated impairment Net goodwill amount Year ended December 31, 2016 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Owned hotels: Europe 64,263 (14,202 ) 50,061 — 196 64,459 (14,202 ) 50,257 North America 66,101 (16,110 ) 49,991 — — 66,101 (16,110 ) 49,991 Rest of world 19,975 (13,149 ) 6,826 — 606 20,581 (13,149 ) 7,432 Owned trains and cruises 7,780 (662 ) 7,118 — (1,455 ) 6,325 (662 ) 5,663 Total 158,119 (44,123 ) 113,996 — (653 ) 157,466 (44,123 ) 113,343 Beginning balance at January 1, 2015 Ending balance at December 31, 2015 Gross goodwill amount Accumulated impairment Net goodwill amount Impairment Foreign currency translation adjustment Gross goodwill amount Accumulated impairment Net goodwill amount Year ended December 31, 2015 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Owned hotels: Europe 71,292 (10,104 ) 61,188 (4,098 ) (7,029 ) 64,263 (14,202 ) 50,061 North America 66,101 (16,110 ) 49,991 — — 66,101 (16,110 ) 49,991 Rest of world 21,705 (8,113 ) 13,592 (5,036 ) (1,730 ) 19,975 (13,149 ) 6,826 Owned trains and cruises 7,873 — 7,873 (662 ) (93 ) 7,780 (662 ) 7,118 Total 166,971 (34,327 ) 132,644 (9,796 ) (8,852 ) 158,119 (44,123 ) 113,996 Belmond's annual impairment test date is October 1, when all reporting units with goodwill balances are reviewed for impairment. The first step of the impairment test compares the carrying value of each reporting unit to its fair value to determine if an impairment is indicated. The fair value of a reporting unit is determined using internally developed discounted future cash flow models, which include input from external valuation experts to provide discount and long term growth rates. If an impairment is indicated, the second step of the impairment test compares the implied fair value of the reporting unit's goodwill to its carrying amount. An impairment loss is measured as the excess of the carrying value of a reporting unit's goodwill over its implied fair value. There were no impairments to goodwill in the year ended December 31, 2016 . In the three months ended December 31, 2016 , Belmond considered whether the declining financial performance of '21' Club caused by stock market volatility and neighboring construction works indicated that it was more likely than not that the fair value of '21' Club was less than its carrying value. Under the first step of the goodwill impairment test, the fair value of '21' Club was approximately 3% in excess of its carrying value. '21' Club had a goodwill balance of $9,596,000 at December 31, 2016 . Factors that could reasonably be expected to potentially have an adverse effect on the fair value of the reporting unit include the future operating projections of the restaurant, volatility in debt or equity markets that could result in changes to the discount rate, political instability in the region or changes in future travel patterns. Also, in the three months ended December 31, 2016 , Belmond considered whether the difficult economic condition in Russia indicated that it was more likely than not that the fair value of Belmond Grand Hotel Europe was less than its carrying value. Under the first step of the goodwill impairment test, the fair value of Belmond Grand Hotel Europe was approximately 21% in excess of its carrying value. Belmond Grand Hotel Europe had a goodwill balance of $9,199,000 at December 31, 2016 . Factors that could reasonably be expected to potentially have an adverse effect on the fair value of the reporting unit include the future operating projections of the hotel, volatility in debt or equity markets that could result in changes to the discount rate, economic sanctions and the timing and extent of recovery in the Russian economy. During the year ended December 31, 2015 , the following non-cash goodwill impairment charges were identified and recorded: • An impairment charge of $4,098,000 at Belmond Grand Hotel Europe. Belmond determined that this impairment was triggered by the deterioration of the Russian economic environment which commenced in the second half of 2014 and failed to improve significantly in 2015 under economic sanctions. The continued sanctions and lack of economic recovery led management to reconsider its estimates for future profitability of the business, including future growth in ADR and occupancy rates and the related discount rates. • An impairment charge of $3,581,000 at Belmond Jimbaran Puri. Belmond determined that this impairment was triggered by declining performance over a number of periods, caused in part by the stronger U.S. dollar and increased relative expense of the region for European travelers in particular. Further weakness in performance that continued into the peak season in the second quarter led management to reconsider its estimates for future profitability of the business, including future growth in ADR and occupancy rates and the related discount rates. • An impairment charge of $1,455,000 at Belmond La Résidence Phou Vao. Belmond determined that this impairment was triggered by the declining popularity of the destination, increased relative expense of the region for European travelers as well as increased competition from smaller independent operators. After a weak winter period, the improvement in performance in 2015 was not as strong as expected, leading management to reconsider its estimates for future profitability of the business, including future growth in ADR and occupancy rates and the related discount rates. • An impairment charge of $662,000 at Belmond Northern Belle. Belmond determined that this impairment was triggered by declining performance caused by a reduction in passenger numbers sourced mainly from regional markets in the U.K. Continued softness in passenger numbers over the key summer period led management to reconsider its estimates for future profitability of the business, including future growth in ticket prices and passenger numbers and the related discount rates. There were no impairments to goodwill in the year ended December 31, 2014 .

Other intangible assets

Other intangible assets	12 Months Ended
Other intangible assets	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Other intangible assets	Other intangible assets Other intangible assets consist of the following as of December 31, 2016 and 2015 : Favorable lease assets Internet sites Trade names Total $'000 $'000 $'000 $'000 Carrying amount: Balance at January 1, 2015 8,586 1,888 7,100 17,574 Additions 714 — — 714 Foreign currency translation adjustment (807 ) (97 ) — (904 ) Balance at December 31, 2015 8,493 1,791 7,100 17,384 Additions — 177 — 177 Foreign currency translation adjustment 8 (310 ) 479 177 Balance at December 31, 2016 8,501 1,658 7,579 17,738 Accumulated amortization: Balance at January 1, 2015 2,486 1,130 3,616 Charge for the year 341 190 531 Foreign currency translation adjustment (554 ) (60 ) (614 ) Balance at December 31, 2015 2,273 1,260 3,533 Charge for the year 373 188 561 Foreign currency translation adjustment (10 ) (223 ) (233 ) Balance at December 31, 2016 2,636 1,225 3,861 Net book value: December 31, 2014 6,100 758 7,100 13,958 December 31, 2015 6,220 531 7,100 13,851 December 31, 2016 5,865 433 7,579 13,877 Favorable lease intangible assets are amortized over the terms of the leases, which are between 19 and 60 years . Internet sites are amortized over a period of five to ten years . Trade names have an indefinite life and therefore are not amortized, but are assessed for impairment annually or when events indicate that impairment may have occurred. In the year ended December 31, 2015 , favorable lease asset additions of $714,000 were recorded and relate to a concession obtained by Belmond Villa Sant'Andrea in Sicily, Italy to operate a portion of beach adjacent to the hotel. In the year ended December 31, 2016 , 2015 and 2014 , no impairments of other intangible assets were recognized. The trade name at Belmond Grand Hotel Europe was tested for impairment as of October 1, 2016. Under the first step of the impairment test, the fair value of the Belmond Grand Hotel Europe trade name was approximately 42% in excess of its carrying value. Belmond Grand Hotel Europe had a trade name balance of $7,579,000 at December 31, 2016 . See Note 8 for discussion of factors that could reasonably be expected to potentially have an adverse effect on the fair value of the trade name. Amortization expense from continuing operations for the year ended December 31, 2016 was $561,000 ( 2015 - $531,000 ; 2014 - $375,000 ). Estimated amortization expense for each of the years ending December 31, 2017 to December 31, 2021 is approximately $561,000 .

Debt and obligations under capi

Debt and obligations under capital lease	12 Months Ended
Debt and obligations under capital lease	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt and obligations under capital lease	Debt and obligations under capital lease (a) Long-term debt and obligations under capital lease Long-term debt and obligations under capital lease consists of the following: 2016 2015 December 31, $’000 $’000 Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%) 602,083 596,428 Obligations under capital lease 19 59 Total long-term debt and obligations under capital leases 602,102 596,487 Less: Current portion 5,284 5,349 Less: Discount on secured term loan 1,515 1,894 Less: Debt issuance costs 9,535 11,701 Non-current portion of long-term debt and obligations under capital lease 585,768 577,543 Belmond is financed with a $488,985,000 secured term loan and a $105,000,000 revolving credit facility. The term loan has two tranches, a U.S. dollar tranche ( $335,513,000 currently outstanding) and a euro-denominated tranche ( €145,875,000 currently outstanding, equivalent to $153,472,000 as at December 31, 2016 ). The dollar tranche bears interest at a rate of LIBOR plus 3% per annum, and the euro tranche originally had an interest rate of EURIBOR plus 3.25% per annum. The euro-denominated tranche was repriced in June 2015 to a rate of EURIBOR plus 3% per annum. Both tranches are subject to a 1% interest rate floor. The term loan matures in 2021 and the annual mandatory amortization is 1% of the principal amount. The revolving credit facility matures in March 2019 and bears interest at a rate of LIBOR plus 2.75% per annum, with a commitment fee of 0.4% paid on the undrawn amount. The term loan and revolving credit facility are secured by pledges of shares in certain Company subsidiaries and by security interests in tangible and intangible personal property. There are no mortgages over real estate. In August 2014, Charleston Center LLC entered into an $86,000,000 loan secured on its real and personal property. This loan had a 2019 maturity and an interest rate of LIBOR plus 2.12% per annum. In June 2016, Charleston Center LLC refinanced this loan with a $112,000,000 new loan with the same 2019 maturity. The interest rate on the new loan is LIBOR plus 2.35% per annum, and the loan has no amortization and is non-recourse to Belmond. The additional proceeds were used to repay a 1984 development loan from a municipal agency in the principal amount of $10,000,000 and accrued interest of $16,819,000 . In connection with the early repayment of the loan, Belmond negotiated a discount that resulted in a net gain reported in the statements of consolidated operations of $1,200,000 upon the extinguishment of the debt, including the payment of a tax indemnity to our partners of $2,800,000 in respect of their allocation of income from the discount arising on the cancellation of indebtedness. The following is a summary of the aggregate maturities of long-term debt, including obligations under capital lease, at December 31, 2016 : Year ended December 31, $’000 2017 5,284 2018 5,286 2019 117,298 2020 5,312 2021 468,922 2022 and thereafter — Total long-term debt and obligations under capital lease 602,102 The Company has guaranteed $488,985,000 of the long-term debt of its subsidiary companies as at December 31, 2016 ( 2015 - $499,100,000 ). The tables above include the debt of Charleston Center LLC of $113,098,000 at December 31, 2016 ( 2015 - $97,328,000 ). The debt is non-recourse to Belmond and includes $112,000,000 which was refinanced in June 2016. Debt issuance costs related to the above outstanding long-term debt were $9,535,000 at December 31, 2016 ( 2015 - $11,701,000 ), including $888,000 at December 31, 2016 ( 2015 - $707,000 ) related to the debt of Charleston Center LLC, a consolidated VIE, and are amortized to interest expense over the term of the corresponding long-term debt. (b) Revolving credit and working capital facilities Belmond had approximately $105,525,000 of revolving credit and working capital facilities at December 31, 2016 ( 2015 - $106,082,000 ) of which $105,525,000 was available ( 2015 - $106,082,000 ).

Other liabilities

Other liabilities	12 Months Ended
Other liabilities	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Other liabilities	Other liabilities The major balances in other liabilities are as follows: 2016 2015 December 31, $’000 $’000 Interest rate swaps (see Note 21) 1,054 1,733 Long-term accrued interest on subordinated debt at Charleston Center LLC (see Note 10) — 16,540 Deferred gain on sale of Inn at Perry Cabin by Belmond 1,350 1,950 Deferred lease incentive 162 247 Tax indemnity provision on extinguishment of debt (see Note 10) 2,800 — Total other liabilities 5,366 20,470

Pensions

Pensions	12 Months Ended
Pensions	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pensions	Pensions From January 1, 2003, a number of non-U.S. Belmond employees participated in a funded defined benefit pension plan in the United Kingdom called the Belmond (UK) Ltd. 2003 Pension Scheme. On May 31, 2006, the plan was closed for future benefit accruals. The significant weighted-average assumptions used to determine net periodic costs of the plan during the year were as follows: 2016 2015 2014 Year ended December 31, % % % Discount rate 3.85 3.70 4.50 Expected long-term rate of return on plan assets 4.90 4.10 4.80 The significant weighted-average assumptions used to determine benefit obligations of the plan at year end were as follows: 2016 2015 December 31, % % Discount rate 2.70 3.85 The discount rate effectively represents the average rate of return on high quality corporate bonds at the end of the year in the country in which the benefit obligations arise. The expected rate of return on the pension fund assets, net of expenses has been determined by considering the actual asset classes held by the plan at December 31, 2016 and the yields available on U.K. government bonds at that date. For equities and corporate bonds, management has assumed that long-term returns will exceed those expected on U.K. government bonds by a risk premium. This is based on historical equity and bond returns over the long term. As these returns are long-term expected returns, the total returns on equities and corporate bonds only vary in line with the U.K. government bond yields and are not further adjusted for current market trends. The expected returns on annuities are set equal to the end of year discount rate as the value of annuities is tied to that rate. The fair value of Belmond’s pension plan assets at December 31, 2016 and 2015 by asset category is as follows: Total Level 1 Level 2 Level 3 December 31, 2016 $’000 $’000 $’000 $’000 Cash 2,840 2,840 — — Equity securities: U.K. managed funds 4,461 4,461 — — Overseas managed funds 5,667 5,667 — — Fixed income securities: U.K. government bonds 2,774 2,774 — — Corporate bonds 2,004 2,004 — — Other types of investments: Quoted hedge funds 4,330 4,330 — — Annuities 1,942 — — 1,942 24,018 22,076 — 1,942 Total Level 1 Level 2 Level 3 December 31, 2015 $’000 $’000 $’000 $’000 Cash 1,101 1,101 — — Equity securities: U.K. managed funds 5,509 5,509 — — Overseas managed funds 4,999 4,999 — — Fixed income securities: U.K. government bonds 860 860 — — Corporate bonds 5,847 5,847 — — Other types of investments: Quoted hedge funds 3,860 3,860 — — Annuities 2,026 — — 2,026 24,202 22,176 — 2,026 The value of the annuities is the present value at the measurement date of the expected future cashflows under the annuity policy in which significant unobservable inputs were used. Therefore, we have classified the annuities as Level 3 assets. All other assets are valued using quoted market prices in active markets or other observable inputs. Reconciliations of fair value measurements using significant unobservable inputs (Level 3) at December 31, 2016 and 2015 are as follows: Annuities Year ended December 31, 2016 $’000 Beginning balance at January 1, 2016 2,026 Foreign exchange (342 ) Actual return on plan assets: Assets still held at the reporting date 321 Purchases, sales and settlements, net (63 ) Ending balance at December 31, 2016 1,942 Annuities Year ended December 31, 2015 $’000 Beginning balance at January 1, 2015 2,186 Foreign exchange (112 ) Actual return on plan assets: Assets still held at the reporting date 25 Purchases, sales and settlements, net (73 ) Ending balance at December 31, 2015 2,026 The allocation of the assets was in compliance with the target allocation set out in the plan investment policy, the principal objectives of which are to deliver returns above those of government and corporate bonds and to minimize the cost of providing pension benefits. The changes in the benefit obligation, the plan assets and the funded status for the plan were as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Change in benefit obligation: Benefit obligation at beginning of year 24,556 27,353 24,768 Interest cost 861 984 1,092 Actuarial loss/(gain) 5,259 (702 ) 3,680 Benefits paid (529 ) (1,723 ) (468 ) Foreign currency translation (4,682 ) (1,356 ) (1,719 ) Benefit obligation at end of year 25,465 24,556 27,353 Change in plan assets: Fair value of plan assets at beginning of year 24,202 24,968 23,162 Actual return on plan assets 3,116 309 1,821 Employer contributions 1,730 1,946 2,025 Benefits paid (529 ) (1,723 ) (468 ) Foreign currency translation (4,501 ) (1,298 ) (1,572 ) Fair value of plan assets at end of year 24,018 24,202 24,968 Funded status at end of year (1,447 ) (354 ) (2,385 ) Net actuarial loss/(gain) recognized in other comprehensive loss 2,649 (727 ) 2,449 Amounts recognized in the consolidated balance sheets consist of the following: 2016 2015 December 31, $’000 $’000 Non-current liabilities 1,447 354 Amounts recognized in accumulated other comprehensive loss gross of tax consist of the following: 2016 2015 December 31, $’000 $’000 Net loss (12,583 ) (9,934 ) Prior service cost — — Net transitional obligation — — Total amount recognized in accumulated other comprehensive loss (12,583 ) (9,934 ) The following table details certain information with respect to Belmond’s U.K. defined benefit pension plan: 2016 2015 Year ended December 31, $’000 $’000 Projected benefit obligation 25,465 24,556 Accumulated benefit obligation 25,465 24,556 Fair value of plan assets 24,018 24,202 Components of net periodic benefit cost are as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Service cost — — — Interest cost on projected benefit obligation 861 984 1,092 Expected return on assets (1,121 ) (1,034 ) (1,139 ) Net amortization and deferrals 615 750 550 Net periodic benefit cost 355 700 503 A U.K. subsidiary of Belmond is obligated to the plan’s trust to pay £1,272,000 (equivalent to $1,565,000 at December 31, 2016 ) annually until the plan is fully funded, which based on its December 2012 actuarial assessment (prepared using assumptions which differ in some respects to those used to value the liability for these financial statements), is projected to occur in 2017 . Once the plan is fully funded, the U.K. subsidiary will remain obligated to restore the plan to a fully funded balance should its position deteriorate. In May 2014, Belmond Ltd. guaranteed the payment obligations of the U.K. subsidiary through 2023 , subject to a cap of £8,200,000 (equivalent to $10,086,000 at December 31, 2016 ), which reduces commensurately with every payment made to the plan since December 31, 2012. The following benefit payments, which reflect assumed future service, are expected to be paid: Year ended December 31, $’000 2017 531 2018 440 2019 609 2020 488 2021 627 Next five years 4,253 The estimated net loss amortized from accumulated other comprehensive income/(loss) into net periodic pension cost in the next fiscal year is $744,000 . Certain employees of Belmond were members of defined contribution pension plans. Total contributions to the plans were as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Employers’ contributions 2,052 2,199 2,527

Income taxes

Income taxes	12 Months Ended
Income taxes	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The Company is incorporated in Bermuda and migrated its tax residence to the United Kingdom on April 1, 2015. Belmond’s effective tax rate is significantly affected by its mix of income and loss in various jurisdictions as there is significant variation in the income tax rate imposed and also by the effect of losses in jurisdictions where the tax benefit is not recognized. In the year ended December 31, 2016 , the additional tax attributable to taxation rates in excess of the territory where Belmond Ltd. is tax resident had the impact of increasing the provision for income taxes by $9,509,000 ( 2015 : $12,948,000 ). Accordingly, the income tax provision is attributable to income tax charges incurred by subsidiaries operating in jurisdictions that impose an income tax, and is impacted by the effect of valuation allowances and uncertain tax positions. The income tax provision is also affected by certain items that may occur in any given year, but are not consistent from year to year. The provision for income taxes consists of the following: Provision for income taxes Year ended December 31, 2016 Pre-tax Current Deferred Total UK (6,702 ) 949 (444 ) 505 Bermuda 160 — — — United States 2,681 (1,510 ) (1,978 ) (3,488 ) Brazil 15,303 5,498 (121 ) 5,377 Italy 19,971 4,468 1,998 6,466 Peru 13,965 4,261 1,625 5,886 Rest of the world (4,622 ) 3,007 (1,385 ) 1,622 40,756 16,673 (305 ) 16,368 Provision for income taxes Year ended December 31, 2015 Pre-tax Current Deferred Total UK (18,965 ) 1,585 (2,262 ) (677 ) Bermuda (4,315 ) — — — United States 1,439 1,310 1,698 3,008 Brazil 10,380 2,768 760 3,528 Italy 17,351 4,006 (824 ) 3,182 Peru 12,078 3,154 (677 ) 2,477 Rest of the world 7,386 4,341 1,182 5,523 25,354 17,164 (123 ) 17,041 Provision for income taxes Year ended December 31, 2014 Pre-tax Current Deferred Total UK (3,476 ) 535 (1,279 ) (744 ) Bermuda (25,702 ) — — — United States 312 1,867 (193 ) 1,674 Brazil 21,275 7,872 (447 ) 7,425 Italy 9,572 6,752 (1,738 ) 5,014 Peru 9,505 3,923 (1,652 ) 2,271 Rest of the world (3,381 ) 5,540 (5,638 ) (98 ) 8,105 26,489 (10,947 ) 15,542 The reconciliation of earnings/(losses) before provision for income taxes and earnings from unconsolidated companies, net of tax at the statutory tax rate to the provision for income taxes is shown in the table below: 2016 2015 2014 Year ended December 31, $'000 $'000 $'000 Earnings/(losses) before provision for income taxes and earnings from unconsolidated companies, net of tax 40,756 25,354 8,105 Tax charge at statutory tax rate of 20%,15% and Nil% (1) 8,151 3,803 — Exchange rate movements on deferred tax (1,785 ) (1,912 ) (3,680 ) Notional interest deductions (1,812 ) (1,867 ) (1,622 ) Imputed cross border charges 995 716 — Disallowable goodwill impairment charges — 2,198 — Other permanent disallowable expenditure/(income) 483 5,762 2,566 Unrecognized tax loss generated on disposal of Hotel Ritz by Belmond — (16,029 ) — Change in valuation allowance 4,876 16,320 4,573 Difference in taxation rates 9,509 12,948 15,089 Change in provisions for uncertain tax positions (3,350 ) 279 545 Change in tax rates (643 ) (5,121 ) (2,081 ) Other (56 ) (56 ) 152 Provision for income taxes 16,368 17,041 15,542 (1) The Company migrated its tax residence to the United Kingdom on April 1, 2015, which has a statutory tax rate of 20%. Prior to that date, the Company was tax resident in Bermuda, which does not impose an income tax. The statutory tax rate of 15% represents the average statutory tax rate for the 12 months ended December, 31 2015. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The following summarizes Belmond’s net deferred tax assets and liabilities: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Operating loss carry-forwards 82,292 89,513 111,779 Pensions 255 63 477 Share-based compensation 3,617 2,978 3,872 Other 8,283 8,952 11,559 Less: Valuation allowance (70,241 ) (69,928 ) (91,462 ) Net deferred tax assets 24,206 31,578 36,225 Other (5,032 ) (7,427 ) (6,138 ) Property, plant and equipment (141,231 ) (147,265 ) (162,625 ) Deferred tax liabilities (146,263 ) (154,692 ) (168,763 ) Net deferred tax liabilities (122,057 ) (123,114 ) (132,538 ) The Company nets deferred tax assets and liabilities where permitted to do so on a jurisdictional basis. Non-current deferred income tax liabilities are presented separately on the face of the consolidated balance sheets for all periods and non-current deferred tax assets are included within Other assets. The gross amount of tax loss carry-forwards is $369,523,000 at December 31, 2016 ( 2015 - $354,717,000 ). Of this amount, $11,715,000 will expire in the five years ending December 31, 2021 and a further $78,755,000 will expire in the five years ending December 31, 2026. The remaining losses of $279,053,000 will expire after December 31, 2026 or have no expiry date. After weighing all positive and negative evidence, a valuation allowance has been provided against deferred tax assets where management believes it is more likely than not that the benefits associated with these assets will not be realized. A deferred tax liability of $1,669,000 ( 2015 - $541,000 ) has been recognized in respect of income taxes and foreign withholding taxes on the excess of the amount for financial reporting purposes over the tax basis of the investments in foreign joint ventures. Except for earnings that are currently distributed, income taxes and foreign withholding taxes have not been recognized on the excess of the amount for financial reporting purposes over the tax basis of investments in foreign subsidiaries that are essentially permanent in duration. The cumulative amount of such unremitted earnings is approximately $1,355,000,000 at December 31, 2016 ( 2015 - $1,267,000,000 ). The determination of the additional deferred taxes that have not been provided is not practical. Belmond’s 2016 tax provision of $16,368,000 ( 2015 - $17,041,000 ; 2014 - $15,542,000 ) included a benefit of $3,350,000 ( 2015 - charge of $279,000 ; 2014 - charge of $545,000 ) in respect of the provision for uncertain tax positions, of which a charge of $639,000 ( 2015 - charge of $247,000 ; 2014 - benefit of $426,000 ) related to the potential interest and penalty costs associated with the uncertain tax positions. The 2016 provision for income taxes included a deferred tax provision of $4,876,000 in respect of valuation allowances due to a change in judgment concerning Belmond’s ability to realize loss carryforwards and other deferred tax assets in certain jurisdictions compared to a $16,320,000 provision in 2015 . At December 31, 2016 , the total amounts of unrecognized tax benefits included the following: Total Principal Interest Penalties Year ended December 31, 2016 $’000 $’000 $’000 $’000 Balance, January 1, 2016 3,678 2,967 656 55 Additional uncertain tax provision identified during the year 78 61 4 13 Increase to uncertain tax provision on prior year positions 4 — 4 — Uncertain tax provisions settled during the year (3,308 ) (2,668 ) (640 ) — Decreases as a result of expiration of the statute of limitations (124 ) (104 ) (2 ) (18 ) Foreign exchange (10 ) (7 ) (1 ) (2 ) Balance at December 31, 2016 318 249 21 48 At December 31, 2016 , Belmond recognized a $318,000 liability in respect of its uncertain tax positions. The entire balance of unrecognized tax benefit at December 31, 2016 , if recognized, would affect the effective tax rate. At December 31, 2015 , the total amounts of unrecognized tax benefits included the following: Total Principal Interest Penalties Year ended December 31, 2015 $’000 $’000 $’000 $’000 Balance at January 1, 2015 3,437 2,966 416 55 Additional uncertain tax provision identified during the year 78 62 7 9 Increase to uncertain tax provision on prior year positions 236 — 236 — Decreases as a result of expiration of the statute of limitations (35 ) (30 ) (2 ) (3 ) Foreign exchange (38 ) (31 ) (1 ) (6 ) Balance at December 31, 2015 3,678 2,967 656 55 At December 31, 2015 , Belmond recognized a $3,678,000 liability in respect of its uncertain tax positions. The entire balance of unrecognized tax benefit at December 31, 2015 , if recognized, would affect the effective tax rate. At December 31, 2014 , the total amounts of unrecognized tax benefits included the following: Total Principal Interest Penalties Year ended December 31, 2014 $’000 $’000 $’000 $’000 Balance, January 1, 2014 2,988 2,935 7 46 Additional uncertain tax provision identified during the year 523 90 413 20 Increase to uncertain tax provision on prior year positions 49 49 — — Uncertain tax provisions settled during the year (49 ) (49 ) — — Decreases as a result of expiration of the statute of limitations (27 ) (20 ) (3 ) (4 ) Foreign exchange (47 ) (39 ) (1 ) (7 ) Balance, December 31, 2014 3,437 2,966 416 55 At December 31, 2014 , Belmond recognized a $3,437,000 liability in respect of its uncertain tax positions. The entire balance of unrecognized tax benefit at December 31, 2014 , if recognized, would affect the effective tax rate. Certain subsidiaries of the Company are subject to taxation in the United States and various states and other non-U.S. jurisdictions. As of December 31, 2016 , the earliest year in any jurisdiction which is open to examination by the tax authorities is 2002. Belmond believes that it is reasonably possible that within the next 12 months the uncertain tax provision will decrease by approximately $80,000 as a result of expiration of uncertain tax positions in certain jurisdictions in which Belmond operates. These amounts relate primarily to transfer pricing inquiries with the tax authorities.

Interest expense

Interest expense	12 Months Ended
Interest expense	Dec. 31, 2016
Other Income and Expenses [Abstract]
Interest expense	Interest expense The balances in interest expense are as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Interest expense on long-term debt and obligations under capital lease 27,090 27,380 30,270 Withholding tax provision classified as interest — (1,476 ) 2,576 Interest on legal settlements (979 ) 3,294 — Amortization of debt issuance costs and discount on secured term loan 3,044 2,903 3,921 Total interest expense 29,155 32,101 36,767

Supplemental cash flow informat

Supplemental cash flow information	12 Months Ended
Supplemental cash flow information	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental cash flow information	Supplemental cash flow information 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Cash paid during the period for: Interest 40,930 27,828 30,147 Income taxes, net of refunds 19,804 18,306 21,454 To reflect the actual cash paid for capital expenditure to acquire property, plant and equipment, increases in accounts payable for capital expenditure are non-cash and excluded from capital expenditure, while decreases are cash payments and included. The changes in accounts payable were a decrease of $223,000 and $229,000 for the years ended December 31, 2016 and 2015 , respectively. During the year ended December 31, 2016 , cash paid during the period for interest of $40,930,000 ( December 31, 2015 - $27,828,000 ) included the payment of accrued interest on a 1984 development loan from a municipal agency that was fully repaid by Charleston Center LLC in June 2016. See Note 10.

Restricted cash

Restricted cash	12 Months Ended
Restricted cash	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Restricted cash	Restricted cash The major balances in restricted cash are as follows: 2016 2015 December 31, $’000 $’000 Cash deposits required to be held with lending banks as collateral 755 749 Prepaid customer deposits which will be released to Belmond under its revenue recognition policy 1,341 1,909 Bonds and guarantees 489 659 Total restricted cash 2,585 3,317 Restricted cash classified as long-term and included in other assets on the consolidated balance sheet at December 31, 2016 was $755,000 ( December 31, 2015 - $749,000 ).

Shareholders' equity

Shareholders' equity	12 Months Ended
Shareholders' equity	Dec. 31, 2016
Equity [Abstract]
Shareholders' equity	Shareholders’ equity (a) Dual common share capitalization The Company has been capitalized with class A common shares, of which there are 240,000,000 authorized, and class B common shares, of which there are 120,000,000 authorized, each convertible at any time into one class A common share. In general, holders of class A and class B common shares vote together as a single class, with holders of class B shares having one vote per share and holders of class A shares having one tenth of one vote per share. In all other substantial respects, the class A and class B common shares are the same. (b) Shareholder rights agreement The Company has in place a shareholder rights agreement which will be implemented not earlier than the tenth day following the first to occur of (i) the public announcement of the acquisition by a person (other than a subsidiary of the Company) of 15% or more of the outstanding class A common shares or 15% or more of the outstanding class B common shares, and (ii) the commencement or announcement of a tender offer or exchange offer by a person for 30% or more of the outstanding class A common shares or 30% or more of the outstanding class B common shares. At that time, the rights will detach from the class A and class B common shares, and the holders of the rights will be entitled to purchase, for each right held, one one hundredth of a series A junior participating preferred share of the Company at an exercise price of $70 (the “Purchase Price”) for each one one hundredth of such junior preferred share, subject to adjustment in certain events. From and after the date on which any person acquires beneficial ownership of 15% or more of the outstanding class A common shares or 15% or more of the outstanding class B common shares, each holder of a right (other than the acquiring person) will be entitled upon exercise to receive, at the then current Purchase Price and in lieu of the junior preferred shares, that number of class A or class B common shares (depending on whether the right was previously attached to a class A or B share) having a market value of twice the Purchase Price. If the Company is acquired or 50% or more of its consolidated assets or earning power is sold, each holder of a right will be entitled to receive, upon exercise at the then current Purchase Price, that amount of common equity of the acquiring company which at the time of such transaction would have a market value of two times the Purchase Price. Also, the Company’s board of directors may exchange all or some of the rights for class A and class B common shares (depending on whether the right was previously attached to a class A or B share) if any person acquires 15% beneficial ownership as described above, but less than 50% beneficial ownership. The rights will expire on June 1, 2020 but may be redeemed at a price of $0.05 per right at any time prior to the tenth day following the date on which a person acquires beneficial ownership of 15% or more of the outstanding class A common shares or 15% or more of the outstanding class B common shares. (c) Acquired shares Included in shareholders’ equity is a reduction for 18,044,478 class B common shares of the Company that a subsidiary of the Company acquired in 2002. Under applicable Bermuda law, these shares are outstanding and may be voted, although in computing earnings per share these shares are treated as a reduction to outstanding shares. (d) Preferred shares The Company has 30,000,000 authorized preferred shares, par value $0.01 each, 500,000 of which have been reserved for issuance as series A junior participating preferred shares upon exercise of preferred share purchase rights held by class A and B common shareholders in connection with the shareholder rights agreement.

Share-based compensation plans

Share-based compensation plans	12 Months Ended
Share-based compensation plans	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation plans	Share-based compensation plans At December 31, 2016 , Belmond had two share-based compensation plans, the 2004 stock option plan and the 2009 share award and incentive plan. The compensation cost that has been charged to selling, general and administrative expense for these plans was $6,272,000 for the year ended December 31, 2016 ( 2015 - $6,707,000 ; 2014 - $7,928,000 ). Cash received from exercised options and vested awards was $17,000 for the year ended December 31, 2016 ( 2015 - $35,000 ; 2014 - $19,000 ). The total compensation cost related to unexercised options and unvested share awards at December 31, 2016 to be recognized over the period January 1, 2017 to December 31, 2020 , was $7,990,000 and the weighted average period over which it is expected to be recognized is 26 months . Measured from the grant date, substantially all awards of deferred shares and restricted shares have a maximum term of four years , and substantially all awards of share options have a maximum term of ten years . There were no grants under the 2004 stock option plan during the year ended December 31, 2016 . (a) 2004 stock option plans Under the Company’s 2004 stock option plan, options to purchase up to 1,000,000 class A common shares could be awarded to employees of Belmond at fair market value at the date of grant. Options are exercisable three years after award and must be exercised ten years from the date of grant. At December 31, 2016 , 66,350 class A common shares were reserved under the 2004 plan. At December 31, 2016 , no shares remain available for future grants under the 2004 plan as these have been transferred to the 2009 plan described below which became effective in 2009. Details of share option transactions under the 2004 stock option plan are as follows: Number of shares Weighted average Weighted average Aggregate intrinsic Outstanding — January 1, 2015 216,350 30.45 Exercised (29,262 ) 5.89 Forfeited, canceled or expired (101,438 ) 32.59 Outstanding — December 31, 2015 85,650 36.30 Exercised (2,548 ) 5.89 Forfeited, canceled or expired (16,752 ) 27.75 Outstanding — December 31, 2016 66,350 39.63 1.2 116 Exercisable — December 31, 2016 66,350 39.63 1.2 116 The options outstanding under the 2004 plans at December 31, 2016 were as follows: Exercise Outstanding at Exercisable at Remaining Exercise prices Exercise prices 5.89 15,600 15,600 1.9 5.89 5.89 35.85 6,550 6,550 1.7 35.85 35.85 46.08 5,550 5,550 1.4 46.08 46.08 51.90 4,950 4,950 1.2 51.90 51.90 52.51 27,250 27,250 0.7 52.51 52.51 52.51 1,050 1,050 0.2 52.51 52.51 52.59 2,350 2,350 0.4 52.59 52.59 59.23 3,050 3,050 0.9 59.23 59.23 66,350 66,350 The fair value of options which were exercised in the year to December 31, 2016 was $5,000 . No options vested and no options were granted under the plans during the year ended December 31, 2016 . (b) 2009 share award and incentive plan The Company's 2009 share award and incentive plan became effective in June 2009 and replaced the 2000 stock option plan, 2004 stock option plan and 2007 performance share plan (the “Pre-existing Plans”). A total of 1,084,550 class A common shares plus the number of class A common shares subject to outstanding awards under the Pre-existing Plans which become available after June 2009 as a result of expirations, cancellations, forfeitures or terminations, were reserved for issuance for awards under the 2009 share award and incentive plan. In 2010, the 2009 plan was amended to increase by 4,000,000 the number of class A shares authorized for issuance under the plan, and in 2012 by another 5,000,000 class A shares. The 2009 plan permits awards of stock options, stock appreciation rights, restricted shares, deferred shares, bonus shares and awards in lieu of obligations, dividend equivalents, other share-based awards, performance-based awards, or any combination of the foregoing. Each type of award is granted and vests based on its own terms, as determined by the Compensation Committee of the Company’s board of directors. During 2016 , the following awards were made under the 2009 share award and incentive plan on the following dates. Estimates of fair values of share options and deferred shares with and without performance criteria were made using the Black-Scholes options pricing model. 2009 share award and incentive plan Class A common shares Date granted Vesting date Exercise price Expected share price volatility Risk-free interest rate Expected dividends per share Expected life of awards Share options 81,925 December 4, 2016 December 4, 2017 $12.75 29% 1.40% $— 2.5 years Share options 81,925 December 4, 2016 December 4, 2018 $12.75 30% 1.40% $— 3.5 years Share options 81,925 December 4, 2016 December 4, 2019 $12.75 34% 1.84% $— 4.5 years Share options 81,925 December 4, 2016 December 4, 2020 $12.75 40% 1.84% $— 5.5 years Share options 47,650 June 24, 2016 June 24, 2017 $9.64 29% 0.76% $— 2.5 years Share options 47,650 June 24, 2016 June 24, 2018 $9.64 30% 0.76% $— 3.5 years Share options 47,650 June 24, 2016 June 24, 2019 $9.64 34% 1.08% $— 4.5 years Share options 47,650 June 24, 2016 June 24, 2020 $9.64 39% 1.08% $— 5.5 years During the year ended December 31, 2016 , the following deferred and restricted share awards were made under the 2009 share award and incentive plan on the following dates: 2009 share award and incentive plan Class A common shares Date granted Vesting date Purchase price Deferred shares without performance criteria 3,287 August 1, 2016 August 1, 2017 $0.01 Deferred shares without performance criteria 3,287 August 1, 2016 August 1, 2018 $0.01 Deferred shares without performance criteria 3,286 August 1, 2016 August 1, 2019 $0.01 Deferred shares without performance criteria 3,286 August 1, 2016 August 1, 2020 $0.01 Restricted shares without performance criteria 81,551 June 24, 2016 June 24, 2017 $0.01 Restricted shares without performance criteria 61,164 June 24, 2016 On retirement $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2017 $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2018 $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2019 $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2020 $0.01 Deferred shares with performance criteria 293,900 March 18, 2016 March 18, 2019 $0.01 Transactions relating to share options under the 2009 plan have been as follows: Number of shares Weighted average Weighted average Aggregate intrinsic Outstanding — January 1, 2015 3,089,633 11.20 Granted 759,474 10.48 Exercised (100,262 ) 8.60 Forfeited, canceled or expired (1,045,888 ) 11.51 Outstanding — December 31, 2015 2,702,957 10.97 Granted 518,300 11.61 Exercised (59,833 ) 9.35 Forfeited, canceled or expired (516,935 ) 10.77 Outstanding — December 31, 2016 2,644,489 11.17 7.3 6,175 Exercisable — December 31, 2016 1,347,734 10.91 5.8 3,592 The options outstanding under the 2009 plan at December 31, 2016 were as follows: Exercise Outstanding at Exercisable at Remaining Exercise prices Exercise prices 8.38 28,600 28,600 2.4 8.38 8.38 8.91 45,700 45,700 2.9 8.91 8.91 8.37 42,200 42,200 3.4 8.37 8.37 11.44 85,550 85,550 3.9 11.44 11.44 11.69 65,100 65,100 4.4 11.69 11.69 8.06 181,750 181,750 4.9 8.06 8.06 9.95 31,700 31,700 5.2 9.95 9.95 8.42 115,500 115,500 5.4 8.42 8.42 11.32 198,350 198,350 5.9 11.32 11.32 9.95 31,700 31,700 6.1 9.95 9.95 11.74 103,800 103,800 6.4 11.74 11.74 14.51 242,950 242,950 7.0 14.51 14.51 14.08 127,100 23,000 7.5 14.08 14.08 11.57 286,183 — 8.0 11.57 — 12.50 96,169 30,919 8.5 12.50 12.50 13.75 96,165 24,041 8.7 13.75 13.75 8.98 375,072 96,874 8.9 8.98 8.98 9.64 163,200 — 9.5 9.64 — 12.75 327,700 — 9.9 12.75 — 2,644,489 1,347,734 The fair value of option grants made in the year to December 31, 2016 was $1,693,000 . The fair value of options which became exercisable in the year to December 31, 2016 was $3,266,000 . The fair value of options which were exercised in the year was $277,000 . The number of options which vested during the year was 654,469 . Transactions relating to deferred shares and restricted shares under the 2009 plan have been as follows: Number of shares Weighted average Aggregate intrinsic Outstanding — January 1, 2015 1,851,309 0.01 Granted 653,787 0.01 Vested and issued (535,407 ) 0.01 Forfeited, canceled or expired (807,502 ) 0.01 Outstanding — December 31, 2015 1,162,187 0.01 Granted 624,261 0.01 Vested and issued (331,299 ) 0.01 Forfeited, canceled or expired (261,374 ) 0.01 Outstanding — December 31, 2016 1,193,775 0.01 15,925 At December 31, 2016 , awards of deferred shares and restricted shares on 1,193,775 class A common shares were reserved under the 2009 plan. Of these awards, 702,572 deferred shares and restricted shares do not specify any performance criteria and will vest up to March 2020. The remaining awards of up to 491,203 deferred shares are subject to performance and market criteria. The fair value of deferred shares and restricted shares awarded in the year to December 31, 2016 was $5,848,000 . The fair value of deferred shares vested in the year to December 31, 2016 was $3,952,000 . There were no vested and unissued deferred share or restricted shares awards as of December 31, 2016 . Estimates of the fair value of the share options on the grant date using the Black-Scholes options pricing model were based on the following assumptions: Year ended December 31, 2016 2015 2014 Expected share price volatility 29% - 40% 28% - 58% 45% - 46% Risk-free interest rate 0.76% - 1.84% 0.65% - 1.83% 1.53% - 1.71% Expected annual dividends per share $— $— $— Expected life of share options 2.5 - 5.5 years 2.5 - 6.9 years 4.5 years

Commitments and contingencies

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Belmond Copacabana Palace In February 2013, the State of Rio de Janeiro Court of Justice affirmed a 2011 decision of a Rio state trial court against Sea Containers Ltd (“SCL”) in lawsuits brought against SCL by minority shareholders in Companhia Hoteis Palace (“CHP”), the company that owns Belmond Copacabana Palace, relating to the recapitalization of CHP in 1995, but the Court reduced the total award against SCL to approximately $27,000,000 . SCL further appealed the judgments during the second quarter of 2013 to the Superior Court of Justice in Brasilia. SCL sold its shares in CHP to the Company in 2000. Years later, in 2006, SCL entered insolvency proceedings in the U.S. and Bermuda that are continuing in Bermuda. Possible claims could be asserted against the Company or CHP in connection with this Brazilian litigation that has to date only involved SCL, although no claims have been asserted. As a precautionary measure to defend the hotel, CHP commenced a declaratory lawsuit in the Rio state court in December 2013 seeking judicial declarations that no fraud was committed against the SCL plaintiffs when the shares in CHP were sold to the Company in 2000 and that the sale of the shares did not render SCL insolvent. Pending rulings on those declarations, the court granted CHP an injunction preventing the SCL plaintiffs from provisionally enforcing their 2011 judgments against CHP, which judgment was subsequently reversed on appeal in May 2014. In September 2014, CHP sought reconsideration from the appellate court of this decision, but the court dismissed its request, resulting in the return of the declaratory lawsuit proceedings to the Rio State Court. Management cannot estimate the range of possible loss if the SCL plaintiffs assert claims against the Company or CHP, and Belmond has made no accruals in respect of this matter. If any such claims were brought, Belmond would continue to defend its interests vigorously. Ubud Hanging Gardens In November 2013, the third-party owner of Ubud Hanging Gardens in Bali, Indonesia dispossessed Belmond from the hotel under long-term lease without prior notice. As a result, Belmond was unable to continue operating the hotel and, accordingly, to prevent any confusion to its guests, Belmond ceased referring to the property in its sales and marketing materials, including all electronic marketing. Belmond believed that the owner's actions were unlawful and in breach of the lease arrangement and constituted a wrongful dispossession. Belmond pursued its legal remedies through arbitration proceedings required under the lease. In June 2015, a Singapore arbitration panel issued its final award in favor of Belmond, holding that the owner had breached Indonesian law and the lease, and granting monetary damages and costs to the Company in an amount equal to approximately $8,500,000 . Since its receipt of the arbitral award, Belmond has been engaged in the process of enforcing this arbitral award in the Indonesian courts. Starting in April 2014, the Indonesian trial courts have dismissed six separate actions filed by the owner for lack of jurisdiction due to the arbitration clause in the parties’ lease. The owner has appealed these decisions, one of which was reversed by the Appellate Court in October 2014. Belmond appealed this case to the Indonesian Supreme Court, which in December 2016 affirmed the Appellate Court's decision. Belmond is considering its position but is likely to seek review for reconsideration by the Supreme Court. As supplemental proceedings to its arbitration claim, Belmond commenced contempt proceedings in the High Court in London, England, where the owner resided, for pursuing the Indonesian proceedings contrary to an earlier High Court injunction, and obtained against the owner in July 2014 a contempt order, which subsequently resulted in the court issuing a committal order of imprisonment for 120 days. The owner left England before the court order was issued and has not yet served the sentence. Belmond does not believe there is any merit in the owner’s outstanding Indonesian actions and is vigorously defending its rights while it seeks to enforce the Singapore arbitral award. While the Company can give no assurances, it believes that it should ultimately be able to enforce its arbitral award. Given the uncertainty involved in this litigation, Belmond recorded in the year ended December 31, 2013, a non-cash impairment charge in the amount of $7,031,000 relating to long-lived assets and goodwill of Ubud Hanging Gardens and has not booked a receivable in respect of the award. Belmond Hotel das Cataratas In September 2014, the Brazilian Ministry of Planning, Budget and Management notified the Company that it was denying the Company's application to extend the term or reduce the rent under the lease for Belmond Hotel das Cataratas, which was entered into in 2007. Belmond had applied for the amendment in 2009 based on its claim that it suffered additional unanticipated and/or unforeseeable costs in performing the refurbishment of the hotel as required by the lease and related tender documentation in order to raise the standard of the property to a five star luxury standard. Prior to August 2014, with the agreement of the Ministry, the Company had been paying the base annual rent without an annual adjustment for inflation as provided for in the lease, pending resolution of Belmond’s application. Throughout this period, the Company had expensed the full rental amount and has fully accrued the difference between the rental charge and the amount actually paid. Based on the Ministry’s decision denying any relief, the Ministry directed the Company that it would henceforth assess rent at the contractual rate, which has been included in the table of future rental payments as at December 31, 2016, and that it must pay the difference between the contractual rent and the rent that had been actually paid. On March 20, 2015, the Ministry provided notice to the hotel that an aggregate amount of approximately R$17,000,000 ( $5,215,000 ) was due on March 31, 2015 as a result of its rejection of any relief sought by Belmond. The Company appealed to the Ministry to reconsider its decision on both procedural and substantive grounds. Pending this requested reconsideration and exhaustion of administrative remedies, the Company did not pay to the Ministry the amount claimed. The Company filed a lawsuit in the Federal Court in Paraná State in August 2016 against the Government of Brazil regarding the Ministry’s failure to properly consider and modify the lease concession for Belmond Hotel das Cataratas. The Federal Court granted the Company’s request for an injunction against the Government enforcing its claim and granted the Company’s request for a 25% preliminary reduction in rent, pending a decision on the merits, which the Superior Court upheld on appeal in a decision rendered in September 2016. The Government appealed to a three judge panel of the Superior Court, which upheld the decision of the Federal Court in favor of the Company in a judgment rendered in January 2017. A discovery calendar has been agreed for the litigation on the merits in the Federal Court where the Company intends to continue to pursue its claims vigorously. In the meantime, the Company is paying rent at the reduced amount but continues to accrue rent at the full contractual amount. Amounts accrued at December 31, 2016 totaled R$21,461,000 ( $6,583,000 ). The Company does not believe that any loss above the amounts accrued is likely. Belmond Sanctuary Lodge In January 2015, Peru Belmond Hotels S.A. received notification of a claim filed by the Public Prosecutor's office of the Regional Government of Cusco, seeking annulment of a contract and public deed of amendment extending the term of the Belmond Sanctuary Lodge concession for 10 years from May 2015 to May 2025. The claim alleged that the amendment was invalid principally because the President of the Region, who executed the public deed on December 27, 2013, did not have proper authority to execute the amendment because a resolution dismissing him from office had been issued the day before. The court of first instance dismissed the case in May 2015 on technical grounds and the claimant appealed to the Superior Court of Cusco. At a hearing before the Superior Court of Cusco in September 2015, the Superior Court overturned the decision of the court of first instance and vacated the entire proceeding. The court of first instance reconsidered the matter and again dismissed the Public Prosecutor's claim in January 2016. The Public Prosecutor's office appealed this decision as well and at a hearing on June 16, 2016, the Superior Court of Cusco reaffirmed the decision of the court of first instance. The Public Prosecutor has declined to appeal the matter to the Supreme Court of Peru. Belmond Miraflores Park The Company is contesting a claim by the municipality of Miraflores in Lima, Peru, the location of its Belmond Miraflores Park Hotel (“BMP”), that BMP has violated a municipal nuisance ordinance by generating noise and vibration that disturbed certain owners of apartments in an adjoining residential building. The local administrative court ruled in favor of the municipality, levying a nominal fine and injunctive relief that included the potential closure of BMP until the noise and vibration has been eliminated. In March 2016, after the administrative court's ruling was affirmed at the trial and subsequently, the appellate court level, BMP appealed to the Supreme Court of Peru. Enforcement of the ruling has been stayed pending the appeal. BMP does not expect to receive a ruling and formal notification from the Supreme Court until at least March 2017. Management believes that the risk of closure of BMP is remote because BMP expects to complete a remediation plan by March 2017 and may also seek to acquire the apartments of the owners who sought the relief. Accordingly, management does not believe that a material loss is probable and no accrual has been made in respect of this matter. Cupecoy Village Development N.V. In July 2015, Cupecoy Village Development N.V. ("Cupecoy") received notification from the tax authorities in Sint Maarten of an intention to issue tax assessments for periods 2007-2010 in respect of wages taxes, social security, turnover tax and penalties, which Belmond believes indicates a maximum possible loss of $16,500,000 . Belmond believes that the report received from the tax authorities contains a number of material miscalculations and misinterpretations of fact and law. The Company had provided a written response to the tax authorities disputing their assessment and expected the resolution of this dispute to result in only an immaterial cost. However, the tax authorities consistently failed to respond or otherwise engage with Belmond or Cupecoy and therefore the Company gave the tax authorities notice that it intended to wind up Cupecoy, which the Company did after receiving no response from the authorities to this notice. In October 2016, following our application to the court, Cupecoy was declared technically insolvent in light of the 2015 tax claim, at which point the Company determined that any liability in respect of Cupecoy was effectively discharged. Cupecoy is currently scheduled for a final bankruptcy declaration in the first quarter of 2017. "Cipriani" Trademark In May 2010, after prevailing in litigation at the trial and appellate court levels, Belmond settled litigation in the United Kingdom for infringement of its U.K. and Community (European wide) registrations for the “Cipriani” trademark. Defendants paid the amount of $3,947,000 to Belmond in March 2010 with the balance of $9,833,000 being payable in installments over five years with interest. Belmond received the final payment in the amount of $1,178,000 in June 2015. Subsequent to Belmond’s success before the U.K. courts, there have arisen a number of European trademark opposition and infringement cases relating to Belmond "Cipriani" and "Hotel Cipriani" Community trademarks. These include an ongoing invalidity action filed by Arrigo Cipriani in the European Trade Mark Office against Belmond’s "Cipriani" Community trademark. To date, Belmond has successfully rebutted this challenge at every level of administrative appeal, and this case is now before the General Court where Belmond also expects to prevail. Belmond has recently been successful in securing the cancellation in Portugal of a trademark application filed by an affiliated company of the Cipriani family for “Cipriani”. Belmond has also been successful in obtaining cancellations of "Cipriani" trademark applications made by the Cipriani family's corporate entity in Russia. In addition, there are a number of ongoing trademark disputes with the Cipriani family in Italy: in January 2015, the Cipriani family and affiliated entities commenced proceedings against Belmond in the Court of Venice, asserting that a 1967 agreement pursuant to which the family sold their interest in the Hotel Cipriani constituted a coexistence agreement allowing both the Company to use “Hotel Cipriani” and the Cipriani family to use “Cipriani” and in August 2015, pursuant to a separate claim filed by the Cipriani family, the Court of Venice ruled in favor of the Cipriani family, determining that their use of their full name (rather than just an initial with their surname), would not constitute infringement of the Company’s registered trademark. The Court’s ruling purports to apply to hotels and restaurants on an EU - wide basis (other than the U.K.) rather than only Italy. The Company has appealed this decision. Separate proceedings brought by Belmond in Spain to defend Belmond's marks against a use by the Cipriani family and its affiliated entities of "Cipriani" to promote a restaurant have been stayed pending the outcome of the Venice appeal. While Belmond believes that it has meritorious cases in all of these Italian proceedings, Belmond cannot estimate the range of possible additional loss to Belmond if it should not prevail in any or all of these cases and Belmond has made no accruals in these matters. The Company and certain of its subsidiaries are parties to various legal proceedings arising in the normal course of business. These proceedings generally include matters relating to labor disputes, tax claims, personal injury cases, lease negotiations and ownership disputes. The outcome of each of these matters cannot be determined with certainty, and the liability that the relevant parties may ultimately incur with respect to any one of these matters in the event of a negative outcome may be in excess of amounts currently accrued for with respect to these matters. Where a reasonable estimate can be made, the additional losses or range of loss that may be incurred in excess of the amount recognized from the various legal proceedings arising in the normal course of business are disclosed separately for each claim, including a reference to where it is disclosed. However, for certain of the legal proceedings, management is unable to estimate the loss or range of loss that may result from these claims due to the highly complex nature or early stage of the legal proceedings. Belmond has granted to James Sherwood, a former director of the Company, a right of first refusal to purchase the Belmond Hotel Cipriani in Venice, Italy in the event Belmond proposes to sell it. The purchase price would be the offered sale price in the case of a cash sale or the fair market value of the hotel, as determined by an independent valuer, in the case of a non-cash sale. Mr. Sherwood has also been granted an option to purchase the hotel at fair market value if a change in control of the Company occurs. Mr. Sherwood may elect to pay 80% of the purchase price if he exercises his right of first refusal, or 100% of the purchase price if he exercises his purchase option, by a non-recourse promissory note secured by the hotel payable in ten equal annual installments with interest at LIBOR . This right of first refusal and purchase option are not assignable and expire one year after Mr. Sherwood’s death. These agreements relating to the Belmond Hotel Cipriani between Mr. Sherwood and Belmond and its predecessor companies have been in place since 1983 and were last amended and restated in 2005. Capital commitments Outstanding contracts to purchase property, plant and equipment were approximately $7,772,000 at December 31, 2016 ( December 31, 2015 - $8,662,000 ). Future rental payments and rental expense under operating leases Future rental payments under operating leases in respect of equipment rentals and leased premises are payable as follows: Year ended December 31, $’000 2017 12,028 2018 12,254 2019 10,549 2020 10,379 2021 10,935 2022 and thereafter 70,275 126,420 Rental expense under operating leases for the year ended December 31, 2016 amounted to $13,037,000 ( 2015 - $10,675,000 ; 2014 - $13,007,000 ).

Fair value measurements

Fair value measurements	12 Months Ended
Fair value measurements	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements (a) Financial instruments recorded at fair value The following tables summarize the valuation of Belmond’s assets and liabilities by the fair value hierarchy at December 31, 2016 and 2015 : Level 1 Level 2 Level 3 Total December 31, 2016 $'000 $'000 $'000 $'000 Assets at fair value: Derivative financial instruments — — — — Total assets — — — — Liabilities at fair value: Derivative financial instruments — (3,364 ) — (3,364 ) Total net liabilities — (3,364 ) — (3,364 ) Level 1 Level 2 Level 3 Total December 31, 2015 $'000 $'000 $'000 $'000 Assets at fair value: Derivative financial instruments — 4 — 4 Total assets — 4 — 4 Liabilities at fair value: Derivative financial instruments — (4,464 ) — (4,464 ) Total net liabilities — (4,460 ) — (4,460 ) During the years ended December 31, 2016 and 2015 , there were no transfers between levels of the fair value hierarchy. (b) Other financial instruments Certain methods and assumptions are used to estimate the fair value of each class of financial instruments. The carrying amount of current assets and current liabilities as disclosed on the consolidated balance sheets approximate their fair value due to the short-term nature of those instruments. The fair value of Belmond's long-term debt, excluding interest rate swaps and caps, is determined using the contractual cash flows and credit-adjusted discount curves. The fair value of the debt is the present value of those contractual cash flows which are discounted at the current market cost of debt and adjusted for the credit spreads. Credit spreads take into consideration general market conditions, maturity and collateral. The estimated carrying values, fair values, and levels of the fair value hierarchy of Belmond's long-term debt as of December 31, 2016 and 2015 were as follows: December 31, 2016 December 31, 2015 Carrying Fair value Carrying Fair value Total long-term debt, before deduction of discount on secured term loan and debt issuance costs, excluding obligations under capital leases Level 2 602,083 626,613 596,428 630,455 See Note 10. (c) Non-financial assets measured at fair value on a non-recurring basis The estimated fair values of Belmond’s non-financial assets measured on a non-recurring basis for the years ended December 31, 2016 , 2015 and 2014 were as follows: Fair value measurement inputs Fair value Level 1 Level 2 Level 3 Total losses in year ended December 31, 2016 Property, plant and equipment — — — — (1,007 ) Fair value measurement inputs Fair value Level 1 Level 2 Level 3 Total losses in year ended December 31, 2015 Goodwill 10,050 — — 10,050 (9,796 ) Fair value measurement inputs Fair value Level 1 Level 2 Level 3 Total losses in year ended December 31, 2014 Property, plant and equipment 2,488 — — 2,488 (1,211 ) Property, plant and equipment For the year ended December 31, 2016, property, plant and equipment at Belmond Orcaella with a carrying amount of $1,007,000 was written down to fair value of $Nil , resulting in a non-cash impairment charge of $1,007,000 . For the year ended December 31, 2014, train carriages of Belmond's former Great South Pacific Express train which are held in Australia and not in service with a carrying value of $3,699,000 were written down to fair value of $2,488,000 , resulting in a non-cash impairment charge of $1,211,000 . These impairments are included in earnings from continuing operations in the period incurred. See Note 7. Goodwill For the year ended December 31, 2015, goodwill of Belmond Jimbaran Puri, Belmond La Résidence Phou Vao and Belmond Northern Belle with a combined carrying value of $5,698,000 was written down to fair value of $Nil , resulting in a non-cash impairment charge of $5,698,000 . Also, in the year ended December 31, 2015 , goodwill of Belmond Grand Hotel Europe with a carrying value of $14,148,000 was written down to fair value of $10,050,000 , resulting in a non-cash impairment charge of $4,098,000 . These impairments are included in earnings from continuing operations in the period incurred. See Note 8.

Derivatives and hedging activit

Derivatives and hedging activities	12 Months Ended
Derivatives and hedging activities	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and hedging activities	Derivatives and hedging activities Belmond hedges its interest rate risk, ensuring that an element of its floating rate interest is fixed by using interest rate derivatives. Belmond designates these derivatives as cashflow hedges. Additionally, Belmond designates its foreign currency borrowings and currency derivatives as net investment hedges of overseas operations. Cash flow hedges of interest rate risk As of December 31, 2016 and 2015 , Belmond had the following outstanding interest rate derivatives stated at their notional amounts in local currency that were designated as cash flow hedges of interest rate risk: 2016 2015 December 31, ’000 ’000 Interest rate swaps € 72,938 € 73,688 Interest rate swaps $ 210,756 $ 212,481 Interest rate caps $ 17,200 $ 17,200 Fair value The table below presents the fair value of Belmond’s derivative financial instruments and their classification as of December 31, 2016 and 2015 : Fair value as of Fair value as of December 31, 2016 December 31, 2015 Balance sheet location $’000 $’000 Derivatives designated in a cash flow hedging relationship: Interest rate derivatives Other assets — 4 Interest rate derivatives Accrued liabilities (2,310 ) (2,731 ) Interest rate derivatives Other liabilities (1,054 ) (1,733 ) Total (3,364 ) (4,460 ) Offsetting There was no offsetting within derivative assets or derivative liabilities at December 31, 2016 and 2015 . However, derivatives are subject to master netting arrangements. Other comprehensive income Information concerning the movements in other comprehensive income/(loss) for cash flow hedges of interest rate risk is shown in Note 22. At December 31, 2016 , the amount accounted for in other comprehensive income/(loss) which is expected to be reclassified to interest expense in the next 12 months is $2,266,000 . Movement in other comprehensive income/(loss) for net investment hedges recorded through foreign currency translation adjustments for the year ended December 31, 2016 was a $4,975,000 gain ( 2015 - $18,221,000 gain; 2014 - $24,816,000 gain). Credit-risk-related contingent features Belmond has agreements with some of its derivative counterparties that contain provisions under which, if Belmond defaults on the debt associated with the hedging instrument, Belmond could also be declared in default in respect of its derivative obligations. As of December 31, 2016 , the fair value of derivatives in a net liability position, which includes accrued interest and an adjustment for non-performance risk, related to these agreements was $3,364,000 ( 2015 - $4,464,000 ). If Belmond breached any of the provisions, it would be required to settle its obligations under the agreements at their termination value of $3,370,000 ( 2015 - $4,513,000 ). Non-derivative financial instruments — net investment hedges Belmond uses certain of its debt denominated in foreign currency to hedge portions of its net investments in foreign operations against adverse movements in exchange rates. Belmond’s designates its euro-denominated indebtedness as a net investment hedge of long-term investments in its euro-functional subsidiaries. These contracts are included in non-derivative hedging instruments. The notional value of non-derivative hedging instruments was $153,472,000 at December 31, 2016 ( 2015 - $160,138,000 ), being a liability of Belmond.

Accumulated other comprehensive

Accumulated other comprehensive loss	12 Months Ended
Accumulated other comprehensive loss	Dec. 31, 2016
Equity [Abstract]
Accumulated other comprehensive loss	Accumulated other comprehensive loss Changes in accumulated other comprehensive income/(loss) (“AOCI”) by component (net of tax) for the years ended December 31, 2016 and 2015 were as follows: Foreign currency translation adjustments Derivative financial instruments Pension liability Total $’000 $’000 $’000 $’000 Balance at January 1, 2015 (232,328 ) (3,569 ) (10,523 ) (246,420 ) Other comprehensive (loss)/income before reclassifications, net of tax provision/(benefit) of $Nil, $(1,310) and $147 (88,180 ) (3,471 ) 580 (91,071 ) Amounts reclassified from AOCI, net of tax provision of $Nil, $958 and $Nil — 2,949 — 2,949 Net current period other comprehensive (loss)/income (88,180 ) (522 ) 580 (88,122 ) Balance at December 31, 2015 (320,508 ) (4,091 ) (9,943 ) (334,542 ) Other comprehensive loss before reclassifications, net of tax benefit of $(809), $(889) and $(530) (10,983 ) (1,942 ) (2,119 ) (15,044 ) Amounts reclassified from AOCI, net of tax provision of $Nil, $1,111 and $Nil — 2,809 — 2,809 Net current period other comprehensive (loss)/income (10,983 ) 867 (2,119 ) (12,235 ) Balance at December 31, 2016 (331,491 ) (3,224 ) (12,062 ) (346,777 ) Reclassifications out of AOCI (net of tax) were as follows: Amount reclassified from AOCI December 31, 2016 December 31, 2015 Details about AOCI components $’000 $’000 Affected line item in the statement of operations Derivative financial instruments: Cash flows from derivative financial instruments related to interest payments made for the hedged debt instrument 2,809 2,949 Interest expense Total reclassifications for the period 2,809 2,949

Segment information

Segment information	12 Months Ended
Segment information	Dec. 31, 2016
Segment Reporting [Abstract]
Segment information	Segment information Segment performance is evaluated by the chief operating decision maker based upon segment earnings before gains/(losses) on disposal, impairments, central costs, interest income, interest expense, foreign currency, tax (including tax on earnings from unconsolidated companies), depreciation and amortization, share-based compensation payment and gains/(losses) on extinguishment of debt (“segment profit/(loss)”). Belmond's operating segments are aggregated into six reportable segments primarily around the type of service being provided—hotels, trains and cruises, and management business/part ownership interests—and are secondarily organized by geography for the hotels, as follows: • Owned hotels in each of Europe, North America and Rest of world which derive earnings from the hotels that Belmond owns including its one stand-alone restaurant; • Owned trains and cruises which derive earnings from the train and cruise businesses that Belmond owns; • Part-owned/managed hotels which derive earnings from hotels that Belmond jointly owns or manages; and • Part-owned/managed trains which derive earnings from the train businesses that Belmond jointly owns or manages. The following tables present information regarding these reportable segments. Belmond revised the order of the presentation of these segments in the year ended December 31, 2016 and included a new sub-total to show management fees earned by the Company. In addition, Belmond reclassified certain expenses associated with the Company’s development team from the Part-owned/managed hotels segment to central costs. Prior periods have been re-presented to reflect the current period presentation. There has not been a material impact on the consolidated financial statements. Revenue from external customers by segment: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Owned hotels: Europe 199,251 200,059 212,744 North America 145,868 148,103 142,586 Rest of world 130,255 124,369 142,731 Total owned hotels 475,374 472,531 498,061 Owned trains & cruises 59,287 65,471 74,265 Part-owned/managed hotels 4,400 5,232 5,983 Part-owned/managed trains 10,763 8,151 7,406 Total part-owned/managed 15,163 13,383 13,389 Revenue 549,824 551,385 585,715 Reconciliation of the total of segment profit to consolidated net earnings/(losses) from operations: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Owned hotels: Europe 67,590 65,416 62,770 North America 28,767 31,622 23,986 Rest of world 33,115 31,295 36,539 Total owned hotels 129,472 128,333 123,295 Owned trains & cruises 3,834 6,741 7,300 Part-owned/managed hotels 6,299 4,993 5,829 Part-owned/managed trains 25,553 18,883 16,165 Total part-owned/managed 31,852 23,876 21,994 Reconciliation to net earnings/(losses): Total segment profit 165,158 158,950 152,589 Gain on disposal of property, plant and equipment and equity method investments 938 20,275 4,128 Impairment of goodwill — (9,796 ) — Impairment of property, plant and equipment (1,007 ) — (1,211 ) Central costs (31,086 ) (40,123 ) (32,351 ) Share-based compensation (6,272 ) (6,707 ) (7,928 ) Depreciation and amortization (52,396 ) (50,513 ) (52,004 ) Gain/(loss) on extinguishment of debt 1,200 — (14,506 ) Other income — — 1,257 Interest income 853 926 1,418 Interest expense (29,155 ) (32,101 ) (36,767 ) Foreign currency, net 9,186 (5,016 ) 2,262 Provision for income taxes (16,368 ) (17,041 ) (15,542 ) Share of (provision for)/benefit from income taxes of unconsolidated companies (5,650 ) (1,466 ) 702 Earnings from continuing operations 35,401 17,388 2,047 Earnings/(losses) from discontinued operations 1,032 (1,534 ) (3,782 ) Net earnings/(losses) 36,433 15,854 (1,735 ) Reconciliation of assets by segment to total assets: 2016 2015 December 31, $’000 $’000 Owned hotels: Europe 504,758 533,610 North America 468,088 477,949 Rest of world 245,167 227,339 Total owned hotels 1,218,013 1,238,898 Owned trains & cruises 88,069 94,945 Part-owned/ managed hotels 20,007 19,285 Part-owned/ managed trains 68,397 61,961 Total part/owned managed 88,404 81,246 Unallocated corporate 129,582 94,386 Total assets 1,524,068 1,509,475 Reconciliation of capital expenditure to acquire property, plant and equipment by segment: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Owned hotels: Europe 11,777 18,648 26,542 North America 9,796 11,881 16,690 Rest of world 19,190 14,168 14,409 Total owned hotels 40,763 44,697 57,641 Owned trains & cruises 12,882 11,415 5,533 Unallocated corporate 1,459 283 280 Total capital expenditure to acquire property, plant and equipment 55,104 56,395 63,454 Carrying value of investment in equity method investees: 2016 2015 December 31, $’000 $’000 Eastern & Oriental Express 2,818 2,972 Peru hotels 19,769 18,696 PeruRail 53,652 47,421 Buzios 2,998 2,542 Other 90 93 Total investment in equity method investees 79,327 71,724 Earnings from unconsolidated companies, net of tax: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Part-owned/managed hotels 1,112 106 1,949 Part-owned/managed trains 9,901 8,969 7,535 Total earnings from unconsolidated companies, net of tax 11,013 9,075 9,484 Revenue from external customers in Belmond's country of domicile and significant countries (based on the location of the property): 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Bermuda — — — Italy 128,671 132,385 137,491 United Kingdom 56,016 62,656 68,412 United States 108,238 107,965 104,146 Brazil 73,300 69,142 86,866 All other countries 183,599 179,237 188,800 Revenue 549,824 551,385 585,715 Property, plant and equipment at book value in Belmond's country of domicile and significant countries (based on the location of the property): 2016 2015 December 31, $’000 $’000 Bermuda — — Italy 294,773 308,035 United Kingdom 48,577 57,443 United States 343,342 346,942 Brazil 73,843 61,773 All other countries 314,141 304,168 Total property, plant and equipment at book value 1,074,676 1,078,361

Related party transactions

Related party transactions	12 Months Ended
Related party transactions	Dec. 31, 2016
Related Party Transactions [Abstract]
Related party transactions	Related party transactions Belmond manages, under long-term contract, the tourist train owned by Eastern and Oriental Express Ltd., in which Belmond has a 25% ownership interest. In the year ended December 31, 2016 , Belmond earned management fees from Eastern and Oriental Express Ltd. of $236,000 ( 2015 - $292,000 ; 2014 - $362,000 ), which are recorded in revenue. The amount due to Belmond from Eastern and Oriental Express Ltd. at December 31, 2016 was $4,886,000 ( 2015 - $4,872,000 ). Belmond manages, under long-term contracts in Peru, Belmond Hotel Monasterio, Belmond Palacio Nazarenas, Belmond Sanctuary Lodge, Belmond Hotel Rio Sagrado, PeruRail and Ferrocarril Transandino, in all of which Belmond has a 50% ownership interest. Belmond provides loans, guarantees and other credit accommodation to these joint ventures. In the year ended December 31, 2016 , Belmond earned management and guarantee fees from its Peruvian joint ventures of $14,734,000 ( 2015 - $12,503,000 ; 2014 - $11,515,000 ) which are recorded in revenue. The amount due to Belmond from its Peruvian joint ventures at December 31, 2016 was $6,907,000 ( 2015 - $7,285,000 ). Belmond owns 50% of a company holding real estate in Buzios, Brazil. The amount due to Belmond from the joint venture at December 31, 2016 was $372,000 ( 2015 - $272,000 ). Belmond managed, under long-term contract, the Hotel Ritz by Belmond, in which Belmond had a 50% ownership interest. For the year ended December 31, 2016 , Belmond earned $Nil ( 2015 - $328,000 ; 2014 - $1,111,000 ) in management fees from the Hotel Ritz by Belmond which are recorded in revenue, and $Nil ( 2015 - $301,000 ; 2014 - $904,000 ) in interest income. The amount due to Belmond from the Hotel Ritz by Belmond at December 31, 2016 was $Nil ( 2015 - $Nil ). On May 21, 2015, Belmond sold its ownership interest in Hotel Ritz by Belmond. See Note 6. On the April 19, 2016, Belmond completed the sale of the property, plant and equipment relating to the trains and carriages that were formerly operated as the Great South Pacific Express in Queensland, Australia for consideration of $2,362,400 to the Company’s PeruRail joint venture. The carriages were sold at their carrying value and no gain or loss arose on disposal. During 2016, Belmond provided conference and banqueting services in the amount of $ 488,000 to Crawford & Co. and GHS Holdings, LLC, companies in which Mr. Harsha Agadi, who is a member of the board of directors of Belmond, is the Chief Executive Officer and President. Mr. Agadi was appointed Interim Chief Executive Officer and Interim President of Crawford & Co. in August 2015 and as Chief Executive Officer and President in June 2016.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
Schedule II - Valuation and Qualifying Accounts	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II—Valuation and Qualifying Accounts Column A Column B Column C Column D Column E Additions Balance at beginning of period Charged to costs and expenses Charged to Deductions Balance at end of period Description $ $ $ $ $ Year ended December 31, 2016 Allowance for doubtful accounts 291,000 109,000 19,000 (2) 1,000 (1) 420,000 Valuation allowance on deferred tax assets 69,928,000 4,876,000 (4,563,000 ) (3) — 70,241,000 Year ended December 31, 2015 Allowance for doubtful accounts 425,000 92,000 (61,000 ) (2) (165,000 ) (1) 291,000 Valuation allowance on deferred tax assets 91,462,000 16,320,000 (37,854,000 ) (3) — 69,928,000 Year ended December 31, 2014 Allowance for doubtful accounts 563,000 47,000 (90,000 ) (2) (95,000 ) (1) 425,000 Valuation allowance on deferred tax assets 110,780,000 4,573,000 (23,891,000 ) (3) — 91,462,000 (1) Bad debts written off, net of recoveries. (2) Foreign currency translation adjustments. (3) This amount was charged to income tax expense, but is fully offset by the income tax benefit generated when recording the corresponding deferred tax asset.

Summary of significant accoun37

Summary of significant accounting policies (Policies)	12 Months Ended
Summary of significant accounting policies (Policies)	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and reflect the results of operations, financial position and cash flows of the Company and all its majority-owned subsidiaries and variable interest entities in which Belmond is the primary beneficiary. The consolidated financial statements have been prepared using the historical basis in the assets and liabilities and the historical results of operations directly attributable to Belmond, and all intercompany accounts and transactions between the Company and its subsidiaries have been eliminated. For entities where the Company does not have a controlling financial interest, the investments in those entities are accounted for using the equity or cost method, as appropriate.
Reclassifications	Reclassifications Discontinued operations and assets and liabilities held for sale were reclassified in the consolidated financial statements for all periods presented. See Note 4 for a summary of the results of discontinued operations and assets and liabilities held for sale. Belmond revised the order of the presentation of these segments in the year ended December 31, 2016 and included a new sub-total to show management fees earned by the Company. In addition, Belmond reclassified certain expenses associated with the Company’s development team from the Part-owned/managed hotels segment to central costs. Prior periods have been re-presented to reflect the current period presentation. There has not been a material impact on the consolidated financial statements. See Note 23.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include all cash balances and highly-liquid investments having original maturities of three months or less.
Restricted cash	Restricted cash Restricted cash is the carrying amount of cash and cash equivalents which are bindingly restricted as to withdrawal or usage. These include deposits held as compensating balances against borrowing arrangements or under contracts entered into with others, but exclude compensating balance arrangements that do not legally restrict the use of cash amounts shown on the balance sheet.
Concentration of credit risk	Concentration of credit risk Due to the nature of the leisure industry, concentration of credit risk with respect to trade receivables is limited. Belmond’s customer base consists of numerous customers across different geographic areas.
Inventories	Inventories Inventories include food, beverages, certain operating stocks and retail goods. Inventories are valued at the lower of cost or market value under the weighted average method.
Assets held for sale and discontinued operations	Assets held for sale and discontinued operations Assets held for sale represent assets of an operating entity that are to be disposed of, together as a group in a single transaction, and liabilities directly associated with the assets that will be transferred in the transaction. Belmond considers properties to be assets held for sale when management approves and commits to a formal plan actively to market a property for sale and Belmond has a signed sales contract and received a significant non-refundable deposit. Upon designation as an asset held for sale, Belmond records the carrying value of each property at the lower of its carrying value which includes allocable segment goodwill or its estimated fair value, less estimated costs to sell, and Belmond stops recording depreciation expense. Where there is no significant ongoing involvement, the gain from the sale is recorded at the date of sale. The results of operations of an entity that either has been disposed of or is classified as held for sale are reported in discontinued operations where the operations and cash flows of the entity will be eliminated from continuing operations as a result of the disposal transaction and Belmond will not have any significant continuing involvement in the operations of the entity after the disposal transaction.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment is stated at cost less accumulated depreciation. The cost of significant renewals and betterments is capitalized and depreciated, while expenditures for normal maintenance and repairs are expensed as incurred. Depreciation expense is computed using the straight-line method over the following estimated useful lives: Description Useful lives Buildings Up to 60 years and 10% residual value Trains Up to 75 years River cruise ship and canal boats 25 years Furniture, fixtures and equipment 3 to 25 years Equipment under capital lease and leasehold improvements Lesser of initial lease term or economic life Land and certain art and antiques are not depreciated.
Impairment of long-lived assets	Impairment of long-lived assets Belmond management evaluates the carrying value of long-lived assets for impairment by comparing the expected undiscounted future cash flows of the assets to the net book value of the assets if certain trigger events occur. If the expected undiscounted future cash flows are less than the net book value of the assets, the excess of the net book value over the estimated fair value is charged to current earnings. Fair value is based upon discounted cash flows of the assets at a rate deemed reasonable for the type of asset and prevailing market conditions, sales of similar assets, appraisals and, if appropriate, current estimated net sales proceeds from pending offers. Belmond evaluates the carrying value of long-lived assets based on its plans, at the time, for those assets and such qualitative factors as future development in the surrounding area, status of expected local competition and projected incremental income from renovations. Changes to Belmond’s plans, including a decision to dispose of or change the intended use of an asset, can have a material impact on the carrying value of the asset.
Investments	Investments Investments include equity interests in and advances to unconsolidated companies and are accounted for under the equity method of accounting when Belmond has a 20% to 50% ownership interest or exercises significant influence over the investee. Under the equity method, the investment in the equity method investee or joint venture is initially recognized in the consolidated balance sheet at cost and adjusted thereafter to recognize Belmond’s share of net earnings or losses and other comprehensive income or loss of the investee. Belmond continues to report losses up to its investment carrying amount, including any additional financial support made or committed to by Belmond. Belmond’s share of earnings or losses is included in the determination of net earnings, and net investment in investees and joint ventures is included within investments in unconsolidated companies in the consolidated balance sheets. Investments accounted for using the equity method are considered impaired when a loss in the value of the equity method investment is other than temporary. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain its earnings capacity that would justify the carrying amount of the investment. If Belmond determines that the decline in value of its investment is other than temporary, the carrying amount of the investment is written down to its fair value through earnings.
Goodwill	Goodwill Goodwill is not amortized but is tested for impairment at least annually or more frequently if events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value. Belmond's annual goodwill impairment testing date is October 1. To test goodwill for impairment, Belmond first compares the carrying value of each reporting unit to its fair value to determine if an impairment is indicated. The fair value of reporting units is determined using internally developed discounted future cash flow models, which incorporate third party appraisals and industry/market data (to the extent available). If an impairment is indicated, Belmond compares the implied fair value of the reporting unit's goodwill to its carrying amount. An impairment loss is measured as the excess of the carrying value of a reporting unit's goodwill over its implied fair value. When determining the fair value of a reporting unit, Belmond is required to make significant judgments that Belmond believes are reasonable and supportable considering all available internal and external evidence at the time. However, these estimates and assumptions are, by their nature, highly judgmental. Fair value determinations are sensitive to changes in the underlying assumptions and factors including those relating to estimating future operating cash flows to be generated from the reporting unit which are dependent upon internal forecasts and projections developed as part of Belmond’s routine, long-term planning process, available industry/market data (to the extent available), Belmond’s strategic plans, estimates of long-term growth rates taking into account Belmond’s assessment of the current economic environment and the timing and degree of any economic recovery, estimation of the useful life over which the cash flows will occur, and market participant assumptions. The assumptions with the most significant impact to the fair value of the reporting unit are those related to future operating cash flows which are forecast for a five -year period from management’s budget and planning process, the terminal value which is included for the period beyond five years from the balance sheet date based on the estimated cash flow in the fifth year and a terminal growth rate ranging from 1.2% to 4.9% ( December 31, 2015 - 2.7% to 7.4% ), and pre-tax discount rates which for the year ended December 31, 2016 range from 7.5% to 16.7% ( December 31, 2015 - 8.3% to 16.9% ). Examples of events or circumstances that could reasonably be expected to negatively affect the underlying key assumptions and ultimately impact the estimated fair values of Belmond’s reporting units may include such items as (i) a prolonged weakness in the general economic conditions in which the reporting units operate and therefore negatively impacting occupancy and room rates, (ii) an economic recovery that significantly differs from Belmond’s assumptions in timing and/or degree, (iii) volatility in the equity and debt markets which could result in a higher discount rate, (iv) shifts or changes in future travel patterns from Belmond’s significant demographic markets that have not been anticipated, (v) changes in competitive supply, (vi) political and security instability in countries where Belmond operates and (vii) deterioration of local economies due to the uncertainty over currencies or currency unions and other factors which could lead to changes in projected cash flows of Belmond’s properties as customers reduce their discretionary spending. If the assumptions used in the impairment analysis are not met or materially change, Belmond may be required to recognize additional goodwill impairment losses which may be material to the financial statements.
Other intangible assets	Other intangible assets Trade names have an indefinite life and therefore are not amortized, but are assessed for impairment annually or when events indicate that impairment may have occurred. Other intangible assets with definite useful lives are tested for impairment if events or changes in circumstances indicate that the asset may be impaired. Belmond uses internally developed discounted future cash flow models in determining the fair value of indefinite-lived intangible assets. Favorable lease intangible assets are amortized over the terms of the leases, which are between 19 and 60 years . Internet sites are amortized over a period of five to ten years .
Variable interest entities	Variable interest entities Belmond analyzes its variable interests, including loans, guarantees and equity investments, to determine if an entity is a variable interest entity (“VIE”). In that assessment, Belmond's analysis includes both quantitative and qualitative considerations. Belmond bases its quantitative analysis on the forecast cash flows of the entity, and its qualitative analysis on a review of the design of the entity, organizational structure including decision-making ability, and relevant financial agreements. Belmond also uses its quantitative and qualitative analysis to determine if Belmond is the primary beneficiary and would therefore be required to consolidate the VIE.
Fair value measurements	Fair value measurements Assets and liabilities carried at fair value are required to be classified and disclosed in one of three categories: Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date, Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, and Level 3 — unobservable inputs for the asset or liability. Belmond reviews its fair value hierarchy classifications quarterly. Changes in significant observable valuation inputs identified during these reviews may trigger reclassification of fair value hierarchy levels of financial assets and liabilities. These reclassifications are reported as transfers at their fair values at the beginning of the period in which the change occurs and as transfers out at their fair values at the end of the period. Derivatives are recorded in the consolidated balance sheets at fair value. The fair value of Belmond’s derivative financial instruments is computed based on an income approach using appropriate valuation techniques including discounting future cash flows and other methods that are consistent with accepted economic methodologies for pricing financial instruments. The valuation process for the derivatives uses observable market data provided by third-party sources. Interest rate swaps are valued by using yield curves derived from observable interest rates to project future swap cash flows and then these cash flows are discounted back to present values. Interest rate caps are valued using a model that projects the probability of various levels of interest rates occurring in the future using observable volatilities. In the determination of fair value of derivative instruments, a credit valuation adjustment is applied to Belmond’s derivative exposures to take into account the risk of the counterparty defaulting with the derivative in an asset position and, when the derivative is in a liability position, the risk that Belmond may default. The credit valuation adjustment is calculated by determining the total expected exposure of the derivatives (incorporating both the current and potential future exposure) and then applying each counterparty’s credit spread to the applicable exposure. For interest rate swaps, Belmond’s own credit spread is applied to the counterparty’s exposure to Belmond and the counterparties credit spread is applied to Belmond’s exposure to the counterparty, and then the net credit valuation adjustment is reflected in the determination of the fair value of the derivative instrument. The credit spreads used as inputs in the fair value calculations represent implied credit default swaps obtained from a third-party credit data provider. Some of the inputs into the credit valuation adjustment are not observable and, therefore, they are considered to be Level 3 inputs. Where the credit valuation adjustment exceeds 20% of the fair value of the derivatives, Level 3 inputs are assumed to have a significant impact on the fair value of the derivatives in their entirety and the derivative is classified as Level 3.
Derivative financial instruments	Derivative financial instruments Derivative instruments are recorded on the consolidated balance sheets at fair value. The effective portion of changes in the fair value of derivatives designated and qualifying as cash flow hedges is recorded in other comprehensive income/(loss) and is subsequently reclassified into earnings in the period that the hedged forecast transaction affects earnings. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. If a derivative instrument is not designated as a hedge for accounting purposes, the fluctuations in the fair value of the derivative are recorded in earnings. Belmond management formally documents all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking various hedge transactions. Belmond links all hedges that are designated as fair value hedges to specific assets or liabilities on the consolidated balance sheets or to specific firm commitments. Belmond links all hedges that are designated as cash flow hedges to forecasted transactions or to floating rate liabilities on the balance sheets. Belmond management also assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are designated in hedging relationships are highly effective in offsetting changes in fair values or cash flows of hedged items. Belmond discontinues hedge accounting prospectively when the derivative is not highly effective as a hedge, the underlying hedged transaction is no longer probable, or the hedging instrument expires, is terminated, or exercised. Belmond is exposed to interest rate risk on its floating rate debt and management uses derivatives to manage the impact of interest rate changes on earnings and cash flows. Belmond’s objective in using interest rate derivatives is to add certainty and stability to its interest expense. To accomplish this objective, Belmond primarily uses interest rate swaps as part of its interest rate risk management strategy. These swaps effectively convert the floating rate interest payments on a portion of the outstanding debt into fixed payments. Hedges of net investments in foreign operations are accounted for similarly to cash flow hedges. Any gain or loss on the hedging instrument relating to the effective portion of the hedge is recorded in other comprehensive income/(loss) within foreign currency translation adjustment. The gain or loss relating to the ineffective portion will be recognized immediately in earnings within foreign currency, net. Gains and losses deferred in accumulated other comprehensive income/(loss) are recognized in earnings upon disposal of the foreign operation. Belmond links all hedges that are designated as net investment hedges to specifically identified net investments in foreign subsidiaries. Belmond has net assets denominated in a variety of currencies. It hedges the U.S. dollar value of euro net assets by using net investment hedges.
Pensions	Pensions Belmond’s primary defined benefit pension plan is accounted for using actuarial valuations. Net funded status is recognized on the consolidated balance sheets and any unrecognized prior service costs or actuarial gains and losses are reported as a component of other comprehensive income/(loss) in shareholders’ equity. In determining the expected long-term rate of return on assets, management has reviewed anticipated future long-term performance of individual asset classes and the appropriate asset allocation strategy given the anticipated requirements of the plan to determine the average rate of earnings expected on the funds invested. The projected returns are based on broad equity and bond indices, including fixed interest rate gilts (United Kingdom Government issued securities) of long-term duration since the plan operates in the U.K. Management continues to monitor and evaluate the level of pension contributions based on various factors that include investment performance, actuarial valuation and tax deductibility.
Share-based compensation	Share-based compensation Equity-settled transactions The cost of equity-settled transactions with employees is measured by reference to the fair value at the date on which equity instruments are granted and is recognized as an expense over the vesting period, which ends on the date on which the relevant employees become fully entitled to the award. Estimates of the grant date fair value of share options and the fair value of deferred shares and restricted shares without performance criteria on the grant date were made using the Black-Scholes option pricing model, and estimates of the grant date fair value of deferred shares with performance criteria and market conditions were made using the Monte Carlo valuation model. For awards with market conditions, the conditions are incorporated into the fair value measurement and the compensation value is not adjusted if the conditions are not met. For awards with performance conditions, compensation expense is recognized when it becomes probable that the performance criteria specified in the awards will be achieved and, accordingly, the compensation value is adjusted following the changes in the estimates of shares likely to vest based on the performance criteria. Expected volatilities are based on historical volatility of the Company’s class A common share price and other factors. The risk-free rate for periods within the expected life is based on the U.S. Treasury yield curve in effect at the time of grant. The expected life represents the period that share-based awards are expected to be outstanding and was determined using historical experience, giving consideration to the contractual terms of the share-based awards and vesting schedules. At each balance sheet date before the share-based award vests, the cumulative expense is calculated, representing the extent to which the vesting period has expired and management’s best estimate of the achievement or otherwise of non-market conditions and the number of equity instruments that will ultimately vest or, in the case of an instrument subject to a market condition, be treated as vesting as described above. The movement in cumulative expense since the previous balance sheet date is recognized in the consolidated statements of operations, with a corresponding entry in equity. Previously recognized compensation cost is not reversed if an employee share option for which the requisite service has been rendered expires unexercised (or unconverted). If stock options are forfeited, then the compensation expense accrued is reversed. Prior to December 31, 2016, Belmond did not estimate a future forfeitures rate and did not incorporate it into the grant value on issue of the awards on the grounds of materiality. As of December 31, 2016 Belmond adopted new guidance and made an accounting policy election to allow the recognition of the effects of forfeitures in compensation cost when they occur.
Estimates	Estimates Belmond bases its estimates on historical experience and also on assumptions that Belmond believes are reasonable based on the relevant facts and circumstances of the estimate. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates include, among others, the allowance for doubtful accounts, fair value of derivative instruments, estimates for determining the fair value of goodwill, long-lived and other intangible asset impairment, share-based compensation, depreciation and amortization, carrying value of assets including intangible assets, employee benefits, taxes, and contingencies. Actual results may differ from those estimates.
Revenue recognition	Revenue recognition Hotel and restaurant revenue is recognized when the rooms are occupied and the services are performed. Train and cruise revenue is recognized upon commencement of the journey. Revenue under management contracts is recognized based upon on an agreed base fee and additional revenue is recognized on the attainment of certain financial results, primarily revenue and operating earnings, in each contract as defined.
Deferred revenue	Deferred revenue consisting of deposits paid in advance is recognized as revenue when the services are performed for hotels and restaurants and upon commencement of train and cruise journeys.
Marketing costs	Marketing costs Marketing costs are expensed as incurred, and are reported in selling, general and administrative expenses. Marketing costs include costs of advertising and other marketing activities.
Interest expense	Interest expense Capitalized interest during the construction of qualifying assets is capitalized and included in the cost of the asset. Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are deferred and amortized to interest expense over the term of the related debt.
Foreign currency	Foreign currency The functional currency for each of Belmond’s operating subsidiaries is the applicable local currency, except for properties in French West Indies, Peru, Cambodia, Myanmar and one property in Mexico, where the functional currency is U.S. dollars. For foreign subsidiaries with a functional currency other than the U.S. dollar, income and expenses are translated into U.S. dollars, the reporting currency of Belmond, at the average rates of exchange prevailing during the year. The assets and liabilities are translated into U.S. dollars at the rates of exchange on the balance sheet date and the related translation adjustments are included in other comprehensive income/(loss). Translation adjustments arising from intercompany financing of a subsidiary that is considered to be long-term in nature are also recorded in other comprehensive income/(loss) as they are considered part of the net investment in the subsidiary. Transactions in currencies other than an entity’s functional currency (foreign currencies) are recorded at the exchange rates prevailing on the dates of the transactions. All monetary assets and liabilities denominated in foreign currencies are translated at the exchange rates prevailing at the reporting date. Non-monetary items carried at historical cost are translated at the exchange rate prevailing on the date of transaction. Exchange differences arising from changes in exchange rates are recognized in earnings as they occur. Prior to 2014, Belmond’s Brazilian operations used the U.S. dollar as their functional currency. Effective January 1, 2014, Belmond changed the functional currency to the Brazilian real. Belmond believes that the growth in the Brazilian operations’ real-denominated revenues and expenses indicated a change in the economic facts and circumstances that justified the change in the functional currency. A foreign currency translation adjustment loss of $49,356,000 arising on the remeasurement of non-monetary assets and liabilities of Belmond’s Brazilian operations, of which the majority related to property, plant and equipment, is included in other comprehensive losses for the year ended December 31, 2014.
Income taxes	Income taxes Belmond accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of transactions and events that have been recognized in the financial statements but have not yet been reflected in Belmond’s income tax returns, or vice versa. Deferred income taxes result from temporary differences between the carrying value of assets and liabilities recognized for financial reporting purposes and their respective tax bases. Deferred taxes are measured at enacted statutory rates and are adjusted in the period enacted rates change. All deferred tax assets and liabilities are classified as non-current and are netted according to tax-paying component and jurisdiction. In evaluating Belmond’s ability to recover deferred tax assets within the jurisdiction in which they arise, management considers all available evidence, both positive and negative, which includes reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and recent financial operations. Management reassesses the need for valuation allowances at each reporting date. Any increase or decrease in a valuation allowance will increase or reduce respectively the income tax expense in the period in which there has been a change in judgment.
Uncertain tax positions	Income tax positions must meet a more-likely-than-not threshold to be recognized in the financial statements. Management recognizes tax liabilities in accordance with ASC 740 applicable to uncertain tax positions, and adjusts these liabilities when judgment changes as a result of the evaluation of new information not previously available. Due to the complexity of some of these uncertainties, the ultimate resolution may result in a payment that is materially different from Belmond’s estimate of the tax liabilities. These differences will be reflected as increases or decreases to income tax expense in the period in which the new information becomes available, actual tax liabilities are determined or the statute of limitations has expired. Belmond recognizes interest and penalties related to unrecognized tax benefits within the income tax expense line in the consolidated statements of operations. Liabilities for uncertain tax benefits are included in the consolidated balance sheets and classified as current or non-current liabilities depending on the expected timing of payment.
Earnings from unconsolidated companies	Earnings from unconsolidated companies Earnings from unconsolidated companies include Belmond’s share of the net earnings of its equity investments.
Earnings per share	Earnings per share Basic earnings per share are based upon net earnings/(losses) attributable to Belmond divided by the weighted average number of class A and B common shares outstanding for the period. Diluted earnings/(losses) per share reflect the increase in shares using the treasury stock method to reflect the impact of an equivalent number of shares as if share options were exercised and share-based awards were converted into common shares. Potentially dilutive shares are excluded when the effect would be to increase diluted earnings per share or reduce diluted losses per share.
Accounting pronouncements adopted during the year and accounting pronouncements to be adopted	Accounting pronouncements adopted during the year In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for annual and interim periods beginning after December 15, 2016, with early adoption permitted. Some elements of the new guidance are applicable on a prospective basis, some elements on a retrospective basis and some using a modified retrospective transition method. Belmond has early adopted this guidance as of December 31, 2016. The adoption of this guidance did not have a material effect on Belmond’s consolidated financial statements. Accounting pronouncements to be adopted In May 2014, the FASB issued new guidance which is intended to improve the comparability of revenue recognition practices across entities, industries, jurisdictions, and capital markets. The guidance supersedes existing revenue recognition guidance and requires an entity to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Entities will have the option of using either a full retrospective approach or a modified approach to adopt the new guidance. In March 2016, the FASB issued additional guidance which amends the principal-versus-agent implementation guidance and illustrations in the original accounting pronouncement. In May 2016, the FASB issued an update that clarified guidance in certain narrow aspects of the topic. The guidance was originally effective for annual and interim periods beginning after December 15, 2016, however in July 2015 the FASB confirmed that the effective date would be deferred by one year, to annual and interim periods beginning after December 15, 2017. Early adoption is permitted only for periods beginning after December 15, 2016. Belmond is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In February 2016, the FASB issued its new standard on accounting for leases, which introduces a lessee model that brings most leases on the balance sheet. A distinction between finance leases and operating leases is retained, with the result that the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous lease guidance. The guidance is effective for annual and interim periods beginning after December 15, 2018, with early adoption permitted. In transition, lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Belmond is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In August 2016, the FASB issued new guidance which clarifies the classification of certain cash receipts and payments in the statement of cash flows. The guidance is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted. The new guidance will be applied on a retrospective basis where applicable. Belmond is currently evaluating the impact, if any, of the adoption of this guidance on its consolidated financial statements. In October 2016, the FASB issued new guidance which is intended to simplify the tax consequences of certain types of intra-entity asset transfers. The guidance is effective for annual periods ending after December 15, 2017, and interim periods thereafter, with early adoption permitted. The new guidance will be applied on a modified retrospective basis. Belmond is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements. In October 2016, the FASB issued new guidance which amends the existing guidance on related parties that are under common control. The new standard requires that a single decision maker consider indirect interests held by related parties under common control on a proportionate basis in a manner consistent with its evaluation of indirect interests held through other related parties. The guidance is effective for annual periods beginning on or after December 15, 2016, including interim and annual periods, with early adoption permitted. Belmond is currently assessing what impact the adoption of this guidance will have on its consolidated financial statements. In November 2016, the FASB issued new guidance which clarifies the classification and presentation of restricted cash in the statement of cash flows. The guidance is effective for fiscal years beginning after December 15, 2017, including interim periods therein, with early adoption permitted. Belmond is currently assessing what impact the adoption of this guidance will have on its consolidated financial statements. In January 2017, the FASB issued new guidance to simplify the accounting for goodwill impairment by eliminating step 2 from the goodwill impairment test. A goodwill impairment will now be measured as the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. The guidance is effective for annual and interim impairment tests for periods beginning after December 15, 2019, with early adoption permitted for any impairment tests performed after January 1, 2017. The new guidance will be applied on a prospective basis. Belmond is currently assessing what impact the adoption of this guidance will have on its consolidated financial statements.
Segment reporting	Segment performance is evaluated by the chief operating decision maker based upon segment earnings before gains/(losses) on disposal, impairments, central costs, interest income, interest expense, foreign currency, tax (including tax on earnings from unconsolidated companies), depreciation and amortization, share-based compensation payment and gains/(losses) on extinguishment of debt (“segment profit/(loss)”). Belmond's operating segments are aggregated into six reportable segments primarily around the type of service being provided—hotels, trains and cruises, and management business/part ownership interests—and are secondarily organized by geography for the hotels, as follows: • Owned hotels in each of Europe, North America and Rest of world which derive earnings from the hotels that Belmond owns including its one stand-alone restaurant; • Owned trains and cruises which derive earnings from the train and cruise businesses that Belmond owns; • Part-owned/managed hotels which derive earnings from hotels that Belmond jointly owns or manages; and • Part-owned/managed trains which derive earnings from the train businesses that Belmond jointly owns or manages.

Summary of significant accoun38

Summary of significant accounting policies (Tables)	12 Months Ended
Summary of significant accounting policies (Tables)	Dec. 31, 2016
Accounting Policies [Abstract]
Property, Plant and Equipment	Depreciation expense is computed using the straight-line method over the following estimated useful lives: Description Useful lives Buildings Up to 60 years and 10% residual value Trains Up to 75 years River cruise ship and canal boats 25 years Furniture, fixtures and equipment 3 to 25 years Equipment under capital lease and leasehold improvements Lesser of initial lease term or economic life The major classes of property, plant and equipment are as follows: 2016 2015 December 31, $’000 $’000 Land and buildings 1,010,362 994,382 Machinery and equipment 179,537 182,510 Furniture, fixtures and equipment 235,098 225,943 River cruise ship and canal boats 18,618 18,773 1,443,615 1,421,608 Less: Accumulated depreciation (368,939 ) (343,247 ) Total property, plant and equipment, net of accumulated depreciation 1,074,676 1,078,361

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
Earnings per share (Tables)	Dec. 31, 2016
Earnings Per Share [Abstract]
Schedule of earnings per share, basic and diluted	The calculation of basic and diluted earnings per share including a reconciliation of the numerator and denominator is as follows: Year ended December 31, 2016 2015 2014 Numerator ($'000) Net earnings/(losses) from continuing operations 35,401 17,388 2,047 Net earnings/(losses) from discontinued operations 1,032 (1,534 ) (3,782 ) Net losses/(earnings) attributable to non-controlling interests (109 ) 411 (145 ) Net earnings/(losses) attributable to Belmond Ltd. 36,324 16,265 (1,880 ) Denominator (shares '000) Basic weighted average shares outstanding 101,586 103,163 103,837 Effect of dilution 1,369 1,193 2,291 Diluted weighted average shares outstanding 102,955 104,356 106,128 $ $ $ Basic earnings per share Net earnings/(losses) from continuing operations 0.348 0.169 0.020 Net earnings/(losses) from discontinued operations 0.010 (0.015 ) (0.036 ) Net losses/(earnings) attributable to non-controlling interests (0.001 ) 0.004 (0.001 ) Net earnings/(losses) attributable to Belmond Ltd. 0.357 0.158 (0.017 ) Diluted earnings per share Net earnings/(losses) from continuing operations 0.344 0.167 0.019 Net earnings/(losses) from discontinued operations 0.010 (0.015 ) (0.036 ) Net losses/(earnings) attributable to non-controlling interests (0.001 ) 0.004 (0.001 ) Net earnings/(losses) attributable to Belmond Ltd. 0.353 0.156 (0.018 )
Schedule of antidilutive securities excluded from computation of earnings per share	The total number of share options and share-based awards excluded from computing diluted earnings per share were as follows: Year ended December 31, 2016 2015 2014 Share options 1,679,817 1,441,972 810,500 Total 1,679,817 1,441,972 810,500

Assets held for sale and disc40

Assets held for sale and discontinued operations (Tables)	12 Months Ended
Assets held for sale and discontinued operations (Tables)	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Net assets sold and gain on sale, summarized operating results of discontinued operations and assets and liabilities held for sale	Summarized results of the properties classified as discontinued operations for the years ended December 31, 2016 , 2015 and 2014 are as follows: Year ended December 31, 2016 Ubud Hanging Gardens Porto Cupecoy Total $'000 $'000 $'000 Revenue — — — Earnings before tax, gain on sale and impairment 69 963 1,032 Earnings before tax 69 963 1,032 Net earnings from discontinued operations 69 963 1,032 Year ended December 31, 2015 Ubud Hanging Gardens Porto Cupecoy Total $'000 $'000 $'000 Revenue — — — Losses before tax, gain on sales and impairment (636 ) (898 ) (1,534 ) Losses before tax (636 ) (898 ) (1,534 ) Net losses from discontinued operations (636 ) (898 ) (1,534 ) Year ended December 31, 2014 Ubud Hanging Gardens Porto Cupecoy Total $'000 $'000 $'000 Revenue — 600 600 Losses before tax, gain on sale and impairment (1,486 ) (1,583 ) (3,069 ) Losses before tax (1,486 ) (1,583 ) (3,069 ) Tax provision (713 ) — (713 ) Net losses from discontinued operations (2,199 ) (1,583 ) (3,782 ) The following is a summary of net assets sold and the gain recorded on sale for Inn at Perry Cabin by Belmond: Year ended December 31, 2014 Inn at Perry Cabin by Belmond March 21, $'000 Property, plant & equipment 32,293 Net working capital deficit (820 ) Net assets 31,473 Consideration: Cash 25,680 Reduction in debt facility on sale of hotel 11,020 Key money retained by buyer 3,000 Less: Working capital adjustment (1,130 ) Less: Costs to sell (393 ) 38,177 Gain on sale 6,704

Variable interest entities (Tab

Variable interest entities (Tables)	12 Months Ended
Variable interest entities (Tables)	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of variable interest entities	The carrying amounts and maximum exposure to loss as a result of Belmond's involvement with its Eastern & Oriental Express joint venture are as follows: Carrying amounts Maximum exposure 2016 2015 2016 2015 December 31, $’000 $’000 $’000 $’000 Investment 2,818 2,972 2,818 2,972 Due from unconsolidated company 4,771 4,872 4,771 4,872 Guarantees — — — — Contingent guarantees — — — — Total 7,589 7,844 7,589 7,844

Investments in unconsolidated42

Investments in unconsolidated companies (Tables)	12 Months Ended
Investments in unconsolidated companies (Tables)	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Summarized financial data for unconsolidated companies	The following table shows the net proceeds to Belmond and a summary of net assets sold, resulting in a gain of $19,676,000 that is reported within gain on disposal of property, plant and equipment and equity method investments in the statements of consolidated operations: Hotel Ritz by Belmond May 21, $'000 Receivables due from unconsolidated companies 29,679 Investments in unconsolidated companies — Net assets sold 29,679 Transfer of foreign currency translation gain (5,613 ) 24,066 Consideration: Cash 42,197 Less: Costs to sell (747 ) Plus: Management contract termination fee 2,292 43,742 Gain on sale 19,676 Summarized financial data for Belmond’s unconsolidated companies are as follows: 2016 2015 December 31, $’000 $’000 Current assets 96,247 59,372 Property, plant and equipment, net of accumulated depreciation 295,662 207,469 Other non-current assets 29,442 30,643 Non-current assets 325,104 238,112 Total assets 421,351 297,484 Current liabilities, including $21,021 and $19,171 current portion of third-party debt 89,785 86,092 Long-term debt 153,876 48,681 Other non-current liabilities 27,545 26,540 Non-current liabilities 181,421 75,221 Total shareholders’ equity 150,145 136,171 Total liabilities and shareholders’ equity 421,351 297,484 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Revenue 191,551 160,614 172,793 Gross profit 1 135,000 104,708 105,333 Net earnings 2 21,720 17,723 19,622 1 Gross profit is defined as revenues less cost of services of the unconsolidated companies. 2 There were no discontinued operations, extraordinary items or cumulative effects of a change in an accounting principle in the unconsolidated companies.

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
Property, plant and equipment (Tables)	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Schedule of major classes of property plant and equipment	Depreciation expense is computed using the straight-line method over the following estimated useful lives: Description Useful lives Buildings Up to 60 years and 10% residual value Trains Up to 75 years River cruise ship and canal boats 25 years Furniture, fixtures and equipment 3 to 25 years Equipment under capital lease and leasehold improvements Lesser of initial lease term or economic life The major classes of property, plant and equipment are as follows: 2016 2015 December 31, $’000 $’000 Land and buildings 1,010,362 994,382 Machinery and equipment 179,537 182,510 Furniture, fixtures and equipment 235,098 225,943 River cruise ship and canal boats 18,618 18,773 1,443,615 1,421,608 Less: Accumulated depreciation (368,939 ) (343,247 ) Total property, plant and equipment, net of accumulated depreciation 1,074,676 1,078,361

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
Goodwill (Tables)	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in carrying amount of goodwill	The changes in the carrying amount of goodwill for the years ended December 31, 2016 and 2015 are as follows: Beginning balance at January 1, 2016 Ending balance at December 31, 2016 Gross goodwill amount Accumulated impairment Net goodwill amount Impairment Foreign currency translation adjustment Gross goodwill amount Accumulated impairment Net goodwill amount Year ended December 31, 2016 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Owned hotels: Europe 64,263 (14,202 ) 50,061 — 196 64,459 (14,202 ) 50,257 North America 66,101 (16,110 ) 49,991 — — 66,101 (16,110 ) 49,991 Rest of world 19,975 (13,149 ) 6,826 — 606 20,581 (13,149 ) 7,432 Owned trains and cruises 7,780 (662 ) 7,118 — (1,455 ) 6,325 (662 ) 5,663 Total 158,119 (44,123 ) 113,996 — (653 ) 157,466 (44,123 ) 113,343 Beginning balance at January 1, 2015 Ending balance at December 31, 2015 Gross goodwill amount Accumulated impairment Net goodwill amount Impairment Foreign currency translation adjustment Gross goodwill amount Accumulated impairment Net goodwill amount Year ended December 31, 2015 $'000 $'000 $'000 $'000 $'000 $'000 $'000 $'000 Owned hotels: Europe 71,292 (10,104 ) 61,188 (4,098 ) (7,029 ) 64,263 (14,202 ) 50,061 North America 66,101 (16,110 ) 49,991 — — 66,101 (16,110 ) 49,991 Rest of world 21,705 (8,113 ) 13,592 (5,036 ) (1,730 ) 19,975 (13,149 ) 6,826 Owned trains and cruises 7,873 — 7,873 (662 ) (93 ) 7,780 (662 ) 7,118 Total 166,971 (34,327 ) 132,644 (9,796 ) (8,852 ) 158,119 (44,123 ) 113,996

Other intangible assets (Tables

Other intangible assets (Tables)	12 Months Ended
Other intangible assets (Tables)	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of finite-lived intangible assets	Other intangible assets consist of the following as of December 31, 2016 and 2015 : Favorable lease assets Internet sites Trade names Total $'000 $'000 $'000 $'000 Carrying amount: Balance at January 1, 2015 8,586 1,888 7,100 17,574 Additions 714 — — 714 Foreign currency translation adjustment (807 ) (97 ) — (904 ) Balance at December 31, 2015 8,493 1,791 7,100 17,384 Additions — 177 — 177 Foreign currency translation adjustment 8 (310 ) 479 177 Balance at December 31, 2016 8,501 1,658 7,579 17,738 Accumulated amortization: Balance at January 1, 2015 2,486 1,130 3,616 Charge for the year 341 190 531 Foreign currency translation adjustment (554 ) (60 ) (614 ) Balance at December 31, 2015 2,273 1,260 3,533 Charge for the year 373 188 561 Foreign currency translation adjustment (10 ) (223 ) (233 ) Balance at December 31, 2016 2,636 1,225 3,861 Net book value: December 31, 2014 6,100 758 7,100 13,958 December 31, 2015 6,220 531 7,100 13,851 December 31, 2016 5,865 433 7,579 13,877

Debt and obligations under ca46

Debt and obligations under capital lease (Tables)	12 Months Ended
Debt and obligations under capital lease (Tables)	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of long-term debt and obligations under capital lease	Long-term debt and obligations under capital lease consists of the following: 2016 2015 December 31, $’000 $’000 Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%) 602,083 596,428 Obligations under capital lease 19 59 Total long-term debt and obligations under capital leases 602,102 596,487 Less: Current portion 5,284 5,349 Less: Discount on secured term loan 1,515 1,894 Less: Debt issuance costs 9,535 11,701 Non-current portion of long-term debt and obligations under capital lease 585,768 577,543
Summary of the aggregate maturities of long-term debt including obligations under capital lease	The following is a summary of the aggregate maturities of long-term debt, including obligations under capital lease, at December 31, 2016 : Year ended December 31, $’000 2017 5,284 2018 5,286 2019 117,298 2020 5,312 2021 468,922 2022 and thereafter — Total long-term debt and obligations under capital lease 602,102

Other liabilities (Tables)

Other liabilities (Tables)	12 Months Ended
Other liabilities (Tables)	Dec. 31, 2016
Other Liabilities Disclosure [Abstract]
Schedule of major balances in other liabilities	The major balances in other liabilities are as follows: 2016 2015 December 31, $’000 $’000 Interest rate swaps (see Note 21) 1,054 1,733 Long-term accrued interest on subordinated debt at Charleston Center LLC (see Note 10) — 16,540 Deferred gain on sale of Inn at Perry Cabin by Belmond 1,350 1,950 Deferred lease incentive 162 247 Tax indemnity provision on extinguishment of debt (see Note 10) 2,800 — Total other liabilities 5,366 20,470

Pensions (Tables)

Pensions (Tables)	12 Months Ended
Pensions (Tables)	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of significant weighted average assumptions	The significant weighted-average assumptions used to determine net periodic costs of the plan during the year were as follows: 2016 2015 2014 Year ended December 31, % % % Discount rate 3.85 3.70 4.50 Expected long-term rate of return on plan assets 4.90 4.10 4.80 The significant weighted-average assumptions used to determine benefit obligations of the plan at year end were as follows: 2016 2015 December 31, % % Discount rate 2.70 3.85
Schedule of fair value of plan assets	The fair value of Belmond’s pension plan assets at December 31, 2016 and 2015 by asset category is as follows: Total Level 1 Level 2 Level 3 December 31, 2016 $’000 $’000 $’000 $’000 Cash 2,840 2,840 — — Equity securities: U.K. managed funds 4,461 4,461 — — Overseas managed funds 5,667 5,667 — — Fixed income securities: U.K. government bonds 2,774 2,774 — — Corporate bonds 2,004 2,004 — — Other types of investments: Quoted hedge funds 4,330 4,330 — — Annuities 1,942 — — 1,942 24,018 22,076 — 1,942 Total Level 1 Level 2 Level 3 December 31, 2015 $’000 $’000 $’000 $’000 Cash 1,101 1,101 — — Equity securities: U.K. managed funds 5,509 5,509 — — Overseas managed funds 4,999 4,999 — — Fixed income securities: U.K. government bonds 860 860 — — Corporate bonds 5,847 5,847 — — Other types of investments: Quoted hedge funds 3,860 3,860 — — Annuities 2,026 — — 2,026 24,202 22,176 — 2,026
Schedule of fair value measurements using significant unobservable inputs (Level 3)	Reconciliations of fair value measurements using significant unobservable inputs (Level 3) at December 31, 2016 and 2015 are as follows: Annuities Year ended December 31, 2016 $’000 Beginning balance at January 1, 2016 2,026 Foreign exchange (342 ) Actual return on plan assets: Assets still held at the reporting date 321 Purchases, sales and settlements, net (63 ) Ending balance at December 31, 2016 1,942 Annuities Year ended December 31, 2015 $’000 Beginning balance at January 1, 2015 2,186 Foreign exchange (112 ) Actual return on plan assets: Assets still held at the reporting date 25 Purchases, sales and settlements, net (73 ) Ending balance at December 31, 2015 2,026
Schedule of changes in the benefit obligation, the plan assets and funded status of the plan	The changes in the benefit obligation, the plan assets and the funded status for the plan were as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Change in benefit obligation: Benefit obligation at beginning of year 24,556 27,353 24,768 Interest cost 861 984 1,092 Actuarial loss/(gain) 5,259 (702 ) 3,680 Benefits paid (529 ) (1,723 ) (468 ) Foreign currency translation (4,682 ) (1,356 ) (1,719 ) Benefit obligation at end of year 25,465 24,556 27,353 Change in plan assets: Fair value of plan assets at beginning of year 24,202 24,968 23,162 Actual return on plan assets 3,116 309 1,821 Employer contributions 1,730 1,946 2,025 Benefits paid (529 ) (1,723 ) (468 ) Foreign currency translation (4,501 ) (1,298 ) (1,572 ) Fair value of plan assets at end of year 24,018 24,202 24,968 Funded status at end of year (1,447 ) (354 ) (2,385 ) Net actuarial loss/(gain) recognized in other comprehensive loss 2,649 (727 ) 2,449
Schedule of amounts recognized in the consolidated balance sheets	Amounts recognized in the consolidated balance sheets consist of the following: 2016 2015 December 31, $’000 $’000 Non-current liabilities 1,447 354
Schedule of amounts recognized in other comprehensive income/(loss)	Amounts recognized in accumulated other comprehensive loss gross of tax consist of the following: 2016 2015 December 31, $’000 $’000 Net loss (12,583 ) (9,934 ) Prior service cost — — Net transitional obligation — — Total amount recognized in accumulated other comprehensive loss (12,583 ) (9,934 )
Schedule of accumulated benefit obligations in excess of fair value of plan assets	The following table details certain information with respect to Belmond’s U.K. defined benefit pension plan: 2016 2015 Year ended December 31, $’000 $’000 Projected benefit obligation 25,465 24,556 Accumulated benefit obligation 25,465 24,556 Fair value of plan assets 24,018 24,202
Schedule of components of net periodic pension benefit cost	Components of net periodic benefit cost are as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Service cost — — — Interest cost on projected benefit obligation 861 984 1,092 Expected return on assets (1,121 ) (1,034 ) (1,139 ) Net amortization and deferrals 615 750 550 Net periodic benefit cost 355 700 503
Schedule of future benefit payments	The following benefit payments, which reflect assumed future service, are expected to be paid: Year ended December 31, $’000 2017 531 2018 440 2019 609 2020 488 2021 627 Next five years 4,253
Schedule of contributions to defined contribution pension plans	Total contributions to the plans were as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Employers’ contributions 2,052 2,199 2,527

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
Income taxes (Tables)	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	The provision for income taxes consists of the following: Provision for income taxes Year ended December 31, 2016 Pre-tax Current Deferred Total UK (6,702 ) 949 (444 ) 505 Bermuda 160 — — — United States 2,681 (1,510 ) (1,978 ) (3,488 ) Brazil 15,303 5,498 (121 ) 5,377 Italy 19,971 4,468 1,998 6,466 Peru 13,965 4,261 1,625 5,886 Rest of the world (4,622 ) 3,007 (1,385 ) 1,622 40,756 16,673 (305 ) 16,368 Provision for income taxes Year ended December 31, 2015 Pre-tax Current Deferred Total UK (18,965 ) 1,585 (2,262 ) (677 ) Bermuda (4,315 ) — — — United States 1,439 1,310 1,698 3,008 Brazil 10,380 2,768 760 3,528 Italy 17,351 4,006 (824 ) 3,182 Peru 12,078 3,154 (677 ) 2,477 Rest of the world 7,386 4,341 1,182 5,523 25,354 17,164 (123 ) 17,041 Provision for income taxes Year ended December 31, 2014 Pre-tax Current Deferred Total UK (3,476 ) 535 (1,279 ) (744 ) Bermuda (25,702 ) — — — United States 312 1,867 (193 ) 1,674 Brazil 21,275 7,872 (447 ) 7,425 Italy 9,572 6,752 (1,738 ) 5,014 Peru 9,505 3,923 (1,652 ) 2,271 Rest of the world (3,381 ) 5,540 (5,638 ) (98 ) 8,105 26,489 (10,947 ) 15,542
Schedule of reconciliation of provision for income taxes	The reconciliation of earnings/(losses) before provision for income taxes and earnings from unconsolidated companies, net of tax at the statutory tax rate to the provision for income taxes is shown in the table below: 2016 2015 2014 Year ended December 31, $'000 $'000 $'000 Earnings/(losses) before provision for income taxes and earnings from unconsolidated companies, net of tax 40,756 25,354 8,105 Tax charge at statutory tax rate of 20%,15% and Nil% (1) 8,151 3,803 — Exchange rate movements on deferred tax (1,785 ) (1,912 ) (3,680 ) Notional interest deductions (1,812 ) (1,867 ) (1,622 ) Imputed cross border charges 995 716 — Disallowable goodwill impairment charges — 2,198 — Other permanent disallowable expenditure/(income) 483 5,762 2,566 Unrecognized tax loss generated on disposal of Hotel Ritz by Belmond — (16,029 ) — Change in valuation allowance 4,876 16,320 4,573 Difference in taxation rates 9,509 12,948 15,089 Change in provisions for uncertain tax positions (3,350 ) 279 545 Change in tax rates (643 ) (5,121 ) (2,081 ) Other (56 ) (56 ) 152 Provision for income taxes 16,368 17,041 15,542 (1) The Company migrated its tax residence to the United Kingdom on April 1, 2015, which has a statutory tax rate of 20%. Prior to that date, the Company was tax resident in Bermuda, which does not impose an income tax. The statutory tax rate of 15% represents the average statutory tax rate for the 12 months ended December, 31 2015.
Schedule of net deferred tax liabilities	The following summarizes Belmond’s net deferred tax assets and liabilities: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Operating loss carry-forwards 82,292 89,513 111,779 Pensions 255 63 477 Share-based compensation 3,617 2,978 3,872 Other 8,283 8,952 11,559 Less: Valuation allowance (70,241 ) (69,928 ) (91,462 ) Net deferred tax assets 24,206 31,578 36,225 Other (5,032 ) (7,427 ) (6,138 ) Property, plant and equipment (141,231 ) (147,265 ) (162,625 ) Deferred tax liabilities (146,263 ) (154,692 ) (168,763 ) Net deferred tax liabilities (122,057 ) (123,114 ) (132,538 )
Schedule of unrecognized tax benefits	At December 31, 2015 , the total amounts of unrecognized tax benefits included the following: Total Principal Interest Penalties Year ended December 31, 2015 $’000 $’000 $’000 $’000 Balance at January 1, 2015 3,437 2,966 416 55 Additional uncertain tax provision identified during the year 78 62 7 9 Increase to uncertain tax provision on prior year positions 236 — 236 — Decreases as a result of expiration of the statute of limitations (35 ) (30 ) (2 ) (3 ) Foreign exchange (38 ) (31 ) (1 ) (6 ) Balance at December 31, 2015 3,678 2,967 656 55 At December 31, 2016 , the total amounts of unrecognized tax benefits included the following: Total Principal Interest Penalties Year ended December 31, 2016 $’000 $’000 $’000 $’000 Balance, January 1, 2016 3,678 2,967 656 55 Additional uncertain tax provision identified during the year 78 61 4 13 Increase to uncertain tax provision on prior year positions 4 — 4 — Uncertain tax provisions settled during the year (3,308 ) (2,668 ) (640 ) — Decreases as a result of expiration of the statute of limitations (124 ) (104 ) (2 ) (18 ) Foreign exchange (10 ) (7 ) (1 ) (2 ) Balance at December 31, 2016 318 249 21 48 At December 31, 2014 , the total amounts of unrecognized tax benefits included the following: Total Principal Interest Penalties Year ended December 31, 2014 $’000 $’000 $’000 $’000 Balance, January 1, 2014 2,988 2,935 7 46 Additional uncertain tax provision identified during the year 523 90 413 20 Increase to uncertain tax provision on prior year positions 49 49 — — Uncertain tax provisions settled during the year (49 ) (49 ) — — Decreases as a result of expiration of the statute of limitations (27 ) (20 ) (3 ) (4 ) Foreign exchange (47 ) (39 ) (1 ) (7 ) Balance, December 31, 2014 3,437 2,966 416 55

Interest expense (Tables)

Interest expense (Tables)	12 Months Ended
Interest expense (Tables)	Dec. 31, 2016
Other Income and Expenses [Abstract]
Balances in interest expense	The balances in interest expense are as follows: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Interest expense on long-term debt and obligations under capital lease 27,090 27,380 30,270 Withholding tax provision classified as interest — (1,476 ) 2,576 Interest on legal settlements (979 ) 3,294 — Amortization of debt issuance costs and discount on secured term loan 3,044 2,903 3,921 Total interest expense 29,155 32,101 36,767

Supplemental cash flow inform51

Supplemental cash flow information (Tables)	12 Months Ended
Supplemental cash flow information (Tables)	Dec. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of supplemental cash flow information	2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Cash paid during the period for: Interest 40,930 27,828 30,147 Income taxes, net of refunds 19,804 18,306 21,454

Restricted cash (Tables)

Restricted cash (Tables)	12 Months Ended
Restricted cash (Tables)	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Schedule of major balances in restricted cash	The major balances in restricted cash are as follows: 2016 2015 December 31, $’000 $’000 Cash deposits required to be held with lending banks as collateral 755 749 Prepaid customer deposits which will be released to Belmond under its revenue recognition policy 1,341 1,909 Bonds and guarantees 489 659 Total restricted cash 2,585 3,317

Share-based compensation plans

Share-based compensation plans (Tables)	12 Months Ended
Share-based compensation plans (Tables)	Dec. 31, 2016
Share-based compensation plans
Awards made under the 2009 plan	During 2016 , the following awards were made under the 2009 share award and incentive plan on the following dates. Estimates of fair values of share options and deferred shares with and without performance criteria were made using the Black-Scholes options pricing model. 2009 share award and incentive plan Class A common shares Date granted Vesting date Exercise price Expected share price volatility Risk-free interest rate Expected dividends per share Expected life of awards Share options 81,925 December 4, 2016 December 4, 2017 $12.75 29% 1.40% $— 2.5 years Share options 81,925 December 4, 2016 December 4, 2018 $12.75 30% 1.40% $— 3.5 years Share options 81,925 December 4, 2016 December 4, 2019 $12.75 34% 1.84% $— 4.5 years Share options 81,925 December 4, 2016 December 4, 2020 $12.75 40% 1.84% $— 5.5 years Share options 47,650 June 24, 2016 June 24, 2017 $9.64 29% 0.76% $— 2.5 years Share options 47,650 June 24, 2016 June 24, 2018 $9.64 30% 0.76% $— 3.5 years Share options 47,650 June 24, 2016 June 24, 2019 $9.64 34% 1.08% $— 4.5 years Share options 47,650 June 24, 2016 June 24, 2020 $9.64 39% 1.08% $— 5.5 years During the year ended December 31, 2016 , the following deferred and restricted share awards were made under the 2009 share award and incentive plan on the following dates: 2009 share award and incentive plan Class A common shares Date granted Vesting date Purchase price Deferred shares without performance criteria 3,287 August 1, 2016 August 1, 2017 $0.01 Deferred shares without performance criteria 3,287 August 1, 2016 August 1, 2018 $0.01 Deferred shares without performance criteria 3,286 August 1, 2016 August 1, 2019 $0.01 Deferred shares without performance criteria 3,286 August 1, 2016 August 1, 2020 $0.01 Restricted shares without performance criteria 81,551 June 24, 2016 June 24, 2017 $0.01 Restricted shares without performance criteria 61,164 June 24, 2016 On retirement $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2017 $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2018 $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2019 $0.01 Restricted shares without performance criteria 43,625 March 18, 2016 March 18, 2020 $0.01 Deferred shares with performance criteria 293,900 March 18, 2016 March 18, 2019 $0.01
Class A common shares \| Share options \| 2004 stock option plans
Share-based compensation plans
Schedule of share option transactions during the period	Details of share option transactions under the 2004 stock option plan are as follows: Number of shares Weighted average Weighted average Aggregate intrinsic Outstanding — January 1, 2015 216,350 30.45 Exercised (29,262 ) 5.89 Forfeited, canceled or expired (101,438 ) 32.59 Outstanding — December 31, 2015 85,650 36.30 Exercised (2,548 ) 5.89 Forfeited, canceled or expired (16,752 ) 27.75 Outstanding — December 31, 2016 66,350 39.63 1.2 116 Exercisable — December 31, 2016 66,350 39.63 1.2 116
Schedule of options outstanding	The options outstanding under the 2004 plans at December 31, 2016 were as follows: Exercise Outstanding at Exercisable at Remaining Exercise prices Exercise prices 5.89 15,600 15,600 1.9 5.89 5.89 35.85 6,550 6,550 1.7 35.85 35.85 46.08 5,550 5,550 1.4 46.08 46.08 51.90 4,950 4,950 1.2 51.90 51.90 52.51 27,250 27,250 0.7 52.51 52.51 52.51 1,050 1,050 0.2 52.51 52.51 52.59 2,350 2,350 0.4 52.59 52.59 59.23 3,050 3,050 0.9 59.23 59.23 66,350 66,350
Class A common shares \| Share options \| 2009 share award and incentive plan
Share-based compensation plans
Schedule of share option transactions during the period	Transactions relating to share options under the 2009 plan have been as follows: Number of shares Weighted average Weighted average Aggregate intrinsic Outstanding — January 1, 2015 3,089,633 11.20 Granted 759,474 10.48 Exercised (100,262 ) 8.60 Forfeited, canceled or expired (1,045,888 ) 11.51 Outstanding — December 31, 2015 2,702,957 10.97 Granted 518,300 11.61 Exercised (59,833 ) 9.35 Forfeited, canceled or expired (516,935 ) 10.77 Outstanding — December 31, 2016 2,644,489 11.17 7.3 6,175 Exercisable — December 31, 2016 1,347,734 10.91 5.8 3,592
Schedule of options outstanding	The options outstanding under the 2009 plan at December 31, 2016 were as follows: Exercise Outstanding at Exercisable at Remaining Exercise prices Exercise prices 8.38 28,600 28,600 2.4 8.38 8.38 8.91 45,700 45,700 2.9 8.91 8.91 8.37 42,200 42,200 3.4 8.37 8.37 11.44 85,550 85,550 3.9 11.44 11.44 11.69 65,100 65,100 4.4 11.69 11.69 8.06 181,750 181,750 4.9 8.06 8.06 9.95 31,700 31,700 5.2 9.95 9.95 8.42 115,500 115,500 5.4 8.42 8.42 11.32 198,350 198,350 5.9 11.32 11.32 9.95 31,700 31,700 6.1 9.95 9.95 11.74 103,800 103,800 6.4 11.74 11.74 14.51 242,950 242,950 7.0 14.51 14.51 14.08 127,100 23,000 7.5 14.08 14.08 11.57 286,183 — 8.0 11.57 — 12.50 96,169 30,919 8.5 12.50 12.50 13.75 96,165 24,041 8.7 13.75 13.75 8.98 375,072 96,874 8.9 8.98 8.98 9.64 163,200 — 9.5 9.64 — 12.75 327,700 — 9.9 12.75 — 2,644,489 1,347,734
Schedule of assumptions used to determine estimated fair value of stock options	Estimates of the fair value of the share options on the grant date using the Black-Scholes options pricing model were based on the following assumptions: Year ended December 31, 2016 2015 2014 Expected share price volatility 29% - 40% 28% - 58% 45% - 46% Risk-free interest rate 0.76% - 1.84% 0.65% - 1.83% 1.53% - 1.71% Expected annual dividends per share $— $— $— Expected life of share options 2.5 - 5.5 years 2.5 - 6.9 years 4.5 years
Class A common shares \| Deferred shares \| 2009 share award and incentive plan
Share-based compensation plans
Schedule of awards transactions during the period	Transactions relating to deferred shares and restricted shares under the 2009 plan have been as follows: Number of shares Weighted average Aggregate intrinsic Outstanding — January 1, 2015 1,851,309 0.01 Granted 653,787 0.01 Vested and issued (535,407 ) 0.01 Forfeited, canceled or expired (807,502 ) 0.01 Outstanding — December 31, 2015 1,162,187 0.01 Granted 624,261 0.01 Vested and issued (331,299 ) 0.01 Forfeited, canceled or expired (261,374 ) 0.01 Outstanding — December 31, 2016 1,193,775 0.01 15,925

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
Commitments and contingencies (Tables)	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of future rental payments under operating leases	Future rental payments under operating leases in respect of equipment rentals and leased premises are payable as follows: Year ended December 31, $’000 2017 12,028 2018 12,254 2019 10,549 2020 10,379 2021 10,935 2022 and thereafter 70,275 126,420

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
Fair value measurements (Tables)	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities by fair value hierarchy	The following tables summarize the valuation of Belmond’s assets and liabilities by the fair value hierarchy at December 31, 2016 and 2015 : Level 1 Level 2 Level 3 Total December 31, 2016 $'000 $'000 $'000 $'000 Assets at fair value: Derivative financial instruments — — — — Total assets — — — — Liabilities at fair value: Derivative financial instruments — (3,364 ) — (3,364 ) Total net liabilities — (3,364 ) — (3,364 ) Level 1 Level 2 Level 3 Total December 31, 2015 $'000 $'000 $'000 $'000 Assets at fair value: Derivative financial instruments — 4 — 4 Total assets — 4 — 4 Liabilities at fair value: Derivative financial instruments — (4,464 ) — (4,464 ) Total net liabilities — (4,460 ) — (4,460 )
Schedule of estimated carrying values, fair values, and levels of the fair value hierarchy of long-term debt	The estimated carrying values, fair values, and levels of the fair value hierarchy of Belmond's long-term debt as of December 31, 2016 and 2015 were as follows: December 31, 2016 December 31, 2015 Carrying Fair value Carrying Fair value Total long-term debt, before deduction of discount on secured term loan and debt issuance costs, excluding obligations under capital leases Level 2 602,083 626,613 596,428 630,455 See Note 10.
Schedule of estimated fair values of non-financial assets measured on a non-recurring basis	The estimated fair values of Belmond’s non-financial assets measured on a non-recurring basis for the years ended December 31, 2016 , 2015 and 2014 were as follows: Fair value measurement inputs Fair value Level 1 Level 2 Level 3 Total losses in year ended December 31, 2016 Property, plant and equipment — — — — (1,007 ) Fair value measurement inputs Fair value Level 1 Level 2 Level 3 Total losses in year ended December 31, 2015 Goodwill 10,050 — — 10,050 (9,796 ) Fair value measurement inputs Fair value Level 1 Level 2 Level 3 Total losses in year ended December 31, 2014 Property, plant and equipment 2,488 — — 2,488 (1,211 )

Derivatives and hedging activ56

Derivatives and hedging activities (Tables)	12 Months Ended
Derivatives and hedging activities (Tables)	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of notional amounts of outstanding interest rate derivatives that were designated as cash flow hedges	As of December 31, 2016 and 2015 , Belmond had the following outstanding interest rate derivatives stated at their notional amounts in local currency that were designated as cash flow hedges of interest rate risk: 2016 2015 December 31, ’000 ’000 Interest rate swaps € 72,938 € 73,688 Interest rate swaps $ 210,756 $ 212,481 Interest rate caps $ 17,200 $ 17,200
Schedule of fair value of derivative financial instruments	The table below presents the fair value of Belmond’s derivative financial instruments and their classification as of December 31, 2016 and 2015 : Fair value as of Fair value as of December 31, 2016 December 31, 2015 Balance sheet location $’000 $’000 Derivatives designated in a cash flow hedging relationship: Interest rate derivatives Other assets — 4 Interest rate derivatives Accrued liabilities (2,310 ) (2,731 ) Interest rate derivatives Other liabilities (1,054 ) (1,733 ) Total (3,364 ) (4,460 )

Accumulated other comprehensi57

Accumulated other comprehensive loss (Tables)	12 Months Ended
Accumulated other comprehensive loss (Tables)	Dec. 31, 2016
Equity [Abstract]
Schedule of changes in accumulated other comprehensive income/(loss) by component	Changes in accumulated other comprehensive income/(loss) (“AOCI”) by component (net of tax) for the years ended December 31, 2016 and 2015 were as follows: Foreign currency translation adjustments Derivative financial instruments Pension liability Total $’000 $’000 $’000 $’000 Balance at January 1, 2015 (232,328 ) (3,569 ) (10,523 ) (246,420 ) Other comprehensive (loss)/income before reclassifications, net of tax provision/(benefit) of $Nil, $(1,310) and $147 (88,180 ) (3,471 ) 580 (91,071 ) Amounts reclassified from AOCI, net of tax provision of $Nil, $958 and $Nil — 2,949 — 2,949 Net current period other comprehensive (loss)/income (88,180 ) (522 ) 580 (88,122 ) Balance at December 31, 2015 (320,508 ) (4,091 ) (9,943 ) (334,542 ) Other comprehensive loss before reclassifications, net of tax benefit of $(809), $(889) and $(530) (10,983 ) (1,942 ) (2,119 ) (15,044 ) Amounts reclassified from AOCI, net of tax provision of $Nil, $1,111 and $Nil — 2,809 — 2,809 Net current period other comprehensive (loss)/income (10,983 ) 867 (2,119 ) (12,235 ) Balance at December 31, 2016 (331,491 ) (3,224 ) (12,062 ) (346,777 )
Schedule of reclassifications out of AOCI	Reclassifications out of AOCI (net of tax) were as follows: Amount reclassified from AOCI December 31, 2016 December 31, 2015 Details about AOCI components $’000 $’000 Affected line item in the statement of operations Derivative financial instruments: Cash flows from derivative financial instruments related to interest payments made for the hedged debt instrument 2,809 2,949 Interest expense Total reclassifications for the period 2,809 2,949

Segment information (Tables)

Segment information (Tables)	12 Months Ended
Segment information (Tables)	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of revenues from external customers by segment	Revenue from external customers by segment: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Owned hotels: Europe 199,251 200,059 212,744 North America 145,868 148,103 142,586 Rest of world 130,255 124,369 142,731 Total owned hotels 475,374 472,531 498,061 Owned trains & cruises 59,287 65,471 74,265 Part-owned/managed hotels 4,400 5,232 5,983 Part-owned/managed trains 10,763 8,151 7,406 Total part-owned/managed 15,163 13,383 13,389 Revenue 549,824 551,385 585,715
Schedule of reconciliation of the total of segment profit to consolidated net earnings (losses) from operations	Reconciliation of the total of segment profit to consolidated net earnings/(losses) from operations: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Owned hotels: Europe 67,590 65,416 62,770 North America 28,767 31,622 23,986 Rest of world 33,115 31,295 36,539 Total owned hotels 129,472 128,333 123,295 Owned trains & cruises 3,834 6,741 7,300 Part-owned/managed hotels 6,299 4,993 5,829 Part-owned/managed trains 25,553 18,883 16,165 Total part-owned/managed 31,852 23,876 21,994 Reconciliation to net earnings/(losses): Total segment profit 165,158 158,950 152,589 Gain on disposal of property, plant and equipment and equity method investments 938 20,275 4,128 Impairment of goodwill — (9,796 ) — Impairment of property, plant and equipment (1,007 ) — (1,211 ) Central costs (31,086 ) (40,123 ) (32,351 ) Share-based compensation (6,272 ) (6,707 ) (7,928 ) Depreciation and amortization (52,396 ) (50,513 ) (52,004 ) Gain/(loss) on extinguishment of debt 1,200 — (14,506 ) Other income — — 1,257 Interest income 853 926 1,418 Interest expense (29,155 ) (32,101 ) (36,767 ) Foreign currency, net 9,186 (5,016 ) 2,262 Provision for income taxes (16,368 ) (17,041 ) (15,542 ) Share of (provision for)/benefit from income taxes of unconsolidated companies (5,650 ) (1,466 ) 702 Earnings from continuing operations 35,401 17,388 2,047 Earnings/(losses) from discontinued operations 1,032 (1,534 ) (3,782 ) Net earnings/(losses) 36,433 15,854 (1,735 )
Schedule of reconciliation of assets by segment to total assets	Reconciliation of assets by segment to total assets: 2016 2015 December 31, $’000 $’000 Owned hotels: Europe 504,758 533,610 North America 468,088 477,949 Rest of world 245,167 227,339 Total owned hotels 1,218,013 1,238,898 Owned trains & cruises 88,069 94,945 Part-owned/ managed hotels 20,007 19,285 Part-owned/ managed trains 68,397 61,961 Total part/owned managed 88,404 81,246 Unallocated corporate 129,582 94,386 Total assets 1,524,068 1,509,475
Schedule of reconciliation of other significant items by segment to consolidated	Carrying value of investment in equity method investees: 2016 2015 December 31, $’000 $’000 Eastern & Oriental Express 2,818 2,972 Peru hotels 19,769 18,696 PeruRail 53,652 47,421 Buzios 2,998 2,542 Other 90 93 Total investment in equity method investees 79,327 71,724 Earnings from unconsolidated companies, net of tax: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Part-owned/managed hotels 1,112 106 1,949 Part-owned/managed trains 9,901 8,969 7,535 Total earnings from unconsolidated companies, net of tax 11,013 9,075 9,484 Reconciliation of capital expenditure to acquire property, plant and equipment by segment: 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Owned hotels: Europe 11,777 18,648 26,542 North America 9,796 11,881 16,690 Rest of world 19,190 14,168 14,409 Total owned hotels 40,763 44,697 57,641 Owned trains & cruises 12,882 11,415 5,533 Unallocated corporate 1,459 283 280 Total capital expenditure to acquire property, plant and equipment 55,104 56,395 63,454
Schedule of revenue from external customers and property, plant and equipment by location	Revenue from external customers in Belmond's country of domicile and significant countries (based on the location of the property): 2016 2015 2014 Year ended December 31, $’000 $’000 $’000 Bermuda — — — Italy 128,671 132,385 137,491 United Kingdom 56,016 62,656 68,412 United States 108,238 107,965 104,146 Brazil 73,300 69,142 86,866 All other countries 183,599 179,237 188,800 Revenue 549,824 551,385 585,715 Property, plant and equipment at book value in Belmond's country of domicile and significant countries (based on the location of the property): 2016 2015 December 31, $’000 $’000 Bermuda — — Italy 294,773 308,035 United Kingdom 48,577 57,443 United States 343,342 346,942 Brazil 73,843 61,773 All other countries 314,141 304,168 Total property, plant and equipment at book value 1,074,676 1,078,361

Basis of financial statement 59

Basis of financial statement presentation (Details)	Dec. 31, 2016restauranttrainshiphotelcanalboat
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of hotels and resort properties \| hotel	34
Number of restaurants \| restaurant	1
Number of tourist trains \| train	7
Number of river cruise businesses \| ship	2
Number of canal boat businesses \| canalboat	1

Summary of significant accoun60

Summary of significant accounting policies - Property, plant and equipment (Details)	12 Months Ended
	Dec. 31, 2016
Buildings
Property, Plant and Equipment [Line Items]
Residual value, percentage	10.00%
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	60 years
Trains \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	75 years
River cruise ship and canal boats
Property, Plant and Equipment [Line Items]
Useful life (in years)	25 years
Furniture, fixtures and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life (in years)	25 years
Furniture, fixtures and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life (in years)	3 years

Summary of significant accoun61

Summary of significant accounting policies - Investments (Details)	Dec. 31, 2016
Minimum
Schedule of Equity Method Investments
Ownership percentage	20.00%
Maximum
Schedule of Equity Method Investments
Ownership percentage	50.00%

Summary of significant accoun62

Summary of significant accounting policies - Goodwill (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Goodwill
Operating cash flows forecast period assumed in goodwill impairment analysis (in years)	5 years
Minimum period for which terminal value is included from the balance sheet date for goodwill impairment analysis (in years)	5 years
Minimum
Goodwill
Terminal growth rate assumed in goodwill impairment analysis	1.20%	2.70%
Discount rate, pre-tax, used in goodwill impairment analysis	7.50%	8.30%
Maximum
Goodwill
Terminal growth rate assumed in goodwill impairment analysis	4.90%	7.40%
Discount rate, pre-tax, used in goodwill impairment analysis	16.70%	16.90%

Summary of significant accoun63

Summary of significant accounting policies - Other intangible assets (Details)	12 Months Ended
	Dec. 31, 2016
Minimum \| Favorable lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	19 years
Minimum \| Internet sites
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	5 years
Maximum \| Favorable lease intangible assets
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	60 years
Maximum \| Internet sites
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	10 years

Summary of significant accoun64

Summary of significant accounting policies (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Credit value adjustment, percentage of fair value of derivatives for Level 3 classification greater than	20.00%
Marketing costs	$ 38,361	$ 40,381	$ 42,251
Number of properties in Mexico for which local currency is not applicable \| property	1
Debt issuance costs	$ 9,535	$ 11,701
Brazilian hotels
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss), gain (loss) arising on change in functional currency			$ 49,356

Earnings per share - Calculatio

Earnings per share - Calculation of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator
Net earnings/(losses) from continuing operations	$ 35,401	$ 17,388	$ 2,047
Net earnings/(losses) from discontinued operations	1,032	(1,534)	(3,782)
Net losses/(earnings) attributable to non-controlling interests	(109)	411	(145)
Net earnings/(losses) attributable to Belmond Ltd.	$ 36,324	$ 16,265	$ (1,880)
Denominator (shares)
Basic weighted average shares outstanding (in shares)	101,586	103,163	103,837
Effect of dilution (in shares)	1,369	1,193	2,291
Diluted weighted average shares outstanding (in shares)	102,955	104,356	106,128
Basic earnings per share
Net earnings/(losses) from continuing operations (in dollars per share)	$ 0.348	$ 0.169	$ 0.020
Net earnings/(losses) from discontinued operations (in dollars per share)	0.010	(0.015)	(0.036)
Net losses/(earnings) attributable to non-controlling interests (in dollars per share)	(0.001)	0.004	(0.001)
Basic net earnings/(losses) per share attributable to Belmond Ltd. (in dollars per share)	0.357	0.158	(0.017)
Diluted earnings per share
Net earnings/(losses) from continuing operations (in dollars per share)	0.344	0.167	0.019
Net earnings/(losses) from discontinued operations (in dollars per share)	0.010	(0.015)	(0.036)
Net losses/(earnings) attributable to non-controlling interests (in dollars per share)	(0.001)	0.004	(0.001)
Diluted net earnings/(losses) per share attributable to Belmond Ltd. (in dollars per share)	$ 0.353	$ 0.156	$ (0.018)

Earnings per share - Securities

Earnings per share - Securities excluded from the computation of diluted earnings per share (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of share options and share-based awards excluded from computation of earnings per share (in shares)	1,679,817	1,441,972	810,500
Number of share options and share-based awards unexercised (in shares)	3,904,614	3,950,794	5,157,292
Share options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of share options and share-based awards excluded from computation of earnings per share (in shares)	1,679,817	1,441,972	810,500

Assets held for sale and disc67

Assets held for sale and discontinued operations (Details)	Apr. 19, 2016USD ($)	Mar. 21, 2014USD ($)	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties classified as held for sale \| property			0	0
Disposal group including discontinued operation, key money paid			$ 0	$ 0	$ 3,000,000
Deferred gain on sale of Inn at Perry Cabin by Belmond			1,350,000	1,950,000
Discontinued operations, tax (benefit)/provision			$ 0	0	$ 713,000
Great South Pacific Express
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross proceeds from divestiture of businesses, including reduction in debt facility on sale of asset	$ 2,362,400
Gain on sale	$ 0
Inn at Perry Cabin by Belmond
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gross proceeds from divestiture of businesses, including reduction in debt facility on sale of asset		$ 39,700,000
Cash		25,680,000
Reduction in debt facility on sale of hotel		11,020,000
Disposal group including discontinued operation, key money paid		$ 3,000,000
Term of management agreement (in years)		10 years
Gain on sale, not discontinued operations		$ 6,704,000
Disposal group including discontinued operation, gain/(loss) before income tax, recognized on completion		3,704,000
Deferred gain on sale of Inn at Perry Cabin by Belmond		$ 3,000,000
Porto Cupecoy
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold \| property					1
Discontinued operations, tax (benefit)/provision					$ 0
Ubud Hanging Gardens
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Legal fees				$ 636,000	1,486,000
Discontinued operations, tax (benefit)/provision					$ 713,000

Assets held for sale and disc68

Assets held for sale and discontinued operations - Summary of net assets sold and the gain/loss recorded on sale (Details) - USD ($)	Apr. 19, 2016	Mar. 21, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Consideration:
Key money retained by buyer			$ 0	$ 0	$ 3,000,000
Inn at Perry Cabin by Belmond
Discontinued operations
Gross Proceeds From Divestiture Of Businesses Including Reduction in Debt Facility on Sale of Asset		$ 39,700,000
Net assets sold and gain on sale
Property, plant & equipment		32,293,000
Net working capital deficit		(820,000)
Net assets		31,473,000
Consideration:
Cash		25,680,000
Reduction in debt facility on sale of hotel		11,020,000
Key money retained by buyer		3,000,000
Less: Working capital adjustment		(1,130,000)
Less: Costs to sell		(393,000)
Net proceeds from divestiture of businesses		38,177,000
Gain on sale, not discontinued operations		$ 6,704,000
Great South Pacific Express [Member]
Discontinued operations
Gross Proceeds From Divestiture Of Businesses Including Reduction in Debt Facility on Sale of Asset	$ 2,362,400
Discontinued Operation, Gain (Loss) from Disposal of Discontinued Operation, before Income Tax	$ 0

Assets held for sale and disc69

Assets held for sale and discontinued operations - Summarized operating results for discontinued operations (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating results
Revenue	$ 0	$ 0	$ 600,000
Losses before tax, gain on sales and impairment	1,032,000	(1,534,000)	(3,069,000)
Losses before tax	1,032,000	(1,534,000)	(3,069,000)
Tax provision	0	0	(713,000)
Net losses from discontinued operations	1,032,000	(1,534,000)	(3,782,000)
Ubud Hanging Gardens
Discontinued operations
Legal fees		636,000	1,486,000
Operating results
Revenue	0	0	0
Losses before tax, gain on sales and impairment	69,000	(636,000)	(1,486,000)
Losses before tax	69,000	(636,000)	(1,486,000)
Tax provision			(713,000)
Net losses from discontinued operations	69,000	(636,000)	(2,199,000)
Porto Cupecoy
Operating results
Revenue	0	0	600,000
Losses before tax, gain on sales and impairment	963,000	(898,000)	(1,583,000)
Losses before tax	963,000	(898,000)	(1,583,000)
Tax provision			0
Net losses from discontinued operations	$ 963,000	$ (898,000)	$ (1,583,000)

Variable interest entities (Det

Variable interest entities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Variable Interest Entity [Line Items]
Goodwill	$ 113,343	$ 113,996	$ 132,644
Variable interest entity, not primary beneficiary \| Eastern and Oriental Express Ltd.
Variable Interest Entity [Line Items]
Ownership percentage	25.00%
Variable interest entity, not primary beneficiary \| Rail joint venture in Peru
Variable Interest Entity [Line Items]
Ownership percentage	50.00%
Charleston Center LLC \| Variable interest entity, primary beneficiary
Variable Interest Entity [Line Items]
Ownership percentage	19.90%
Assets of consolidated variable interest entities that can only be used to settle obligations of the consolidated VIE	$ 210,276	210,652
Goodwill	40,395	40,395
Liabilities of consolidated variable interest entities for which creditors have no recourse to Belmond Ltd.	$ 121,621	$ 122,386

Variable interest entities - Ca

Variable interest entities - Carrying amounts and maximum exposure to loss for E&O joint venture (Details) - Eastern and Oriental Express Ltd. - Variable interest entity, not primary beneficiary - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Variable Interest Entity [Line Items]
Carrying Amounts, Total	$ 7,589	$ 7,844
Maximum exposure	7,589	7,844
Investment
Variable Interest Entity [Line Items]
Carrying Amounts, Assets	2,818	2,972
Maximum exposure	2,818	2,972
Due from unconsolidated company
Variable Interest Entity [Line Items]
Carrying Amounts, Assets	4,771	4,872
Maximum exposure	4,771	4,872
Guarantees
Variable Interest Entity [Line Items]
Carrying Amounts, Liabilities	0	0
Maximum exposure	0	0
Contingent guarantees
Variable Interest Entity [Line Items]
Carrying Amounts, Liabilities	0	0
Maximum exposure	$ 0	$ 0

Investments in unconsolidated72

Investments in unconsolidated companies (Details) € in Thousands, $ in Thousands	May 21, 2015USD ($)	May 21, 2015EUR (€)	Dec. 31, 2016USD ($)hotel	Dec. 31, 2014USD ($)	Jun. 30, 2007USD ($)
Schedule of Equity Method Investments
Number of hotels and resort properties \| hotel			34
Rail joint venture in Peru
Schedule of Equity Method Investments
Ownership percentage			50.00%
Rail joint venture in Peru \| Guarantee of Governmental Concession \| Variable interest entity, not primary beneficiary
Schedule of Equity Method Investments
Debt obligations guaranteed			$ 7,261
Rail joint venture in Peru \| Financial Guarantee Additional Debt 2017 \| Variable interest entity, not primary beneficiary
Schedule of Equity Method Investments
Debt obligations guaranteed				$ 4,124
Eastern and Oriental Express Ltd.
Schedule of Equity Method Investments
Ownership percentage			25.00%
Buzios
Schedule of Equity Method Investments
Ownership percentage			50.00%		50.00%
Cash consideration					$ 5,000
Hotel Ritz, Madrid
Schedule of Equity Method Investments
Ownership percentage	50.00%	50.00%	50.00%
Gross proceeds from divestiture of businesses, including reduction in debt facility on sale of asset	$ 144,529	€ 130,000
Contract termination income	$ 2,292
Hotel and rail joint ventures in Peru
Schedule of Equity Method Investments
Ownership percentage			50.00%
Peruvian hotel joint venture
Schedule of Equity Method Investments
Ownership percentage			50.00%
Number of hotels and resort properties \| hotel			4
Peruvian hotel joint venture \| Contingent Financial Guarantee Additional Debt 2018
Schedule of Equity Method Investments
Debt obligations guaranteed			$ 17,734
Maximum
Schedule of Equity Method Investments
Ownership percentage			50.00%
Minimum
Schedule of Equity Method Investments
Ownership percentage			20.00%
Minimum \| Hotel and rail joint ventures in Peru \| Guarantees
Schedule of Equity Method Investments
Ownership percentage			50.00%

Investments in unconsolidated73

Investments in unconsolidated companies - Unconsolidated companies summarized financial data (Details) - USD ($) $ in Thousands	May 21, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated companies		$ 79,327	$ 71,724
Summarized financial data for OEH's unconsolidated companies
Current assets		96,247	59,372
Property, plant and equipment, net of accumulated depreciation		295,662	207,469
Other non-current assets		29,442	30,643
Non-current assets		325,104	238,112
Total assets		421,351	297,484
Current liabilities, including $21,021 and $19,171 current portion of third-party debt		89,785	86,092
Long-term debt		153,876	48,681
Other non-current liabilities		27,545	26,540
Non-current liabilities		181,421	75,221
Total shareholders’ equity		150,145	136,171
Total liabilities and shareholders’ equity		421,351	297,484
Current portion of long-term debt and obligations under capital leases		5,284	5,349
Revenue		191,551	160,614	$ 172,793
Gross profit		135,000	104,708	105,333
Net earnings		21,720	17,723	$ 19,622
Hotel Ritz, Madrid
Schedule of Equity Method Investments [Line Items]
Receivables due from unconsolidated companies	$ 29,679
Investments in unconsolidated companies	0
Net assets	29,679
Transfer of foreign currency translation gain	(5,613)
Net assets after adjustments	24,066
Cash	42,197
Less: Costs to sell	(747)
Plus: Management contract termination fee	2,292
Net Sales Proceeds	43,742
Gain on sale	$ 19,676
Third-party Debt
Summarized financial data for OEH's unconsolidated companies
Current portion of long-term debt and obligations under capital leases		$ 21,021	$ 19,171

Property, plant and equipment -

Property, plant and equipment - Major classes of property, plant and equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Property, plant and equipment
Property, plant and equipment, gross	$ 1,443,615	$ 1,421,608
Less: Accumulated depreciation	(368,939)	(343,247)
Total property, plant and equipment, net of accumulated depreciation	1,074,676	1,078,361
Land and buildings
Property, plant and equipment
Property, plant and equipment, gross	1,010,362	994,382
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, gross	179,537	182,510
Furniture, fixtures and equipment
Property, plant and equipment
Property, plant and equipment, gross	235,098	225,943
River cruise ship and canal boats
Property, plant and equipment
Property, plant and equipment, gross	$ 18,618	$ 18,773

Property, plant and equipment75

Property, plant and equipment (Details) - USD ($)	9 Months Ended	12 Months Ended
Property, plant and equipment (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Total property, plant and equipment at book value		$ 1,074,676,000	$ 1,078,361,000
Interest costs capitalized		0	0	$ 0
Impairment of property, plant and equipment	$ 0	1,007,000	0	1,211,000
Great South Pacific Express
Property, Plant and Equipment [Line Items]
Impairment of property, plant and equipment				1,211,000
Belmond Orcaella
Property, Plant and Equipment [Line Items]
Impairment of property, plant and equipment		1,007,000
Belmond Northern Belle
Property, Plant and Equipment [Line Items]
Total property, plant and equipment at book value		4,332,000
Charleston Center LLC
Property, Plant and Equipment [Line Items]
Total property, plant and equipment at book value		201,861,000	201,342,000
Charleston Center LLC \| Charleston Center LLC
Property, Plant and Equipment [Line Items]
Total property, plant and equipment at book value		201,861,000	201,342,000
Continuing operations
Property, Plant and Equipment [Line Items]
Depreciation expense		$ 51,835,000	$ 49,982,000	$ 51,629,000

Goodwill - Changes in carrying

Goodwill - Changes in carrying amount of goodwill (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill
Gross goodwill amount	$ 157,466,000	$ 158,119,000	$ 166,971,000
Accumulated impairment	(44,123,000)	(44,123,000)	(34,327,000)
Changes in the carrying amount of goodwill
Balance at the beginning of the period	113,996,000	132,644,000
Impairment	0	(9,796,000)	0
Foreign currency translation adjustment	(653,000)	(8,852,000)
Balance at the end of the period	113,343,000	113,996,000	132,644,000
Owned Hotels \| Segment: Owned hotels - Europe
Goodwill
Gross goodwill amount	64,459,000	64,263,000	71,292,000
Accumulated impairment	(14,202,000)	(14,202,000)	(10,104,000)
Changes in the carrying amount of goodwill
Balance at the beginning of the period	50,061,000	61,188,000
Impairment	0	(4,098,000)
Foreign currency translation adjustment	196,000	(7,029,000)
Balance at the end of the period	50,257,000	50,061,000	61,188,000
Owned Hotels \| Segment: Owned hotels - North America
Goodwill
Gross goodwill amount	66,101,000	66,101,000	66,101,000
Accumulated impairment	(16,110,000)	(16,110,000)	(16,110,000)
Changes in the carrying amount of goodwill
Balance at the beginning of the period	49,991,000	49,991,000
Impairment	0	0
Foreign currency translation adjustment	0	0
Balance at the end of the period	49,991,000	49,991,000	49,991,000
Owned Hotels \| Segment: Owned hotels - Rest of world
Goodwill
Gross goodwill amount	20,581,000	19,975,000	21,705,000
Accumulated impairment	(13,149,000)	(13,149,000)	(8,113,000)
Changes in the carrying amount of goodwill
Balance at the beginning of the period	6,826,000	13,592,000
Impairment	0	(5,036,000)
Foreign currency translation adjustment	606,000	(1,730,000)
Balance at the end of the period	7,432,000	6,826,000	13,592,000
Owned Trains and Cruises
Goodwill
Gross goodwill amount	6,325,000	7,780,000	7,873,000
Accumulated impairment	(662,000)	(662,000)	0
Changes in the carrying amount of goodwill
Balance at the beginning of the period	7,118,000	7,873,000
Impairment	0	(662,000)
Foreign currency translation adjustment	(1,455,000)	(93,000)
Balance at the end of the period	$ 5,663,000	$ 7,118,000	$ 7,873,000

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
Goodwill (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and impairment of goodwill
Goodwill	$ 113,343,000	$ 113,996,000	$ 132,644,000
Impairment of goodwill	$ 0	9,796,000	$ 0
Belmond Grand Hotel Europe
Goodwill and impairment of goodwill
Percentage fair value in excess of carrying value	21.00%
Goodwill	$ 9,199,000
Impairment of goodwill		$ 4,098,000
21 Club
Goodwill and impairment of goodwill
Percentage fair value in excess of carrying value	3.00%
Goodwill	$ 9,596,000
Belmond Grand Hotel Europe
Goodwill and impairment of goodwill
Impairment of goodwill	4,098,000
Belmond Jimbaran Puri
Goodwill and impairment of goodwill
Impairment of goodwill	3,581,000
Belmond La Résidence Phou Vao
Goodwill and impairment of goodwill
Impairment of goodwill	1,455,000
Belmond Northern Belle
Goodwill and impairment of goodwill
Impairment of goodwill	$ 662,000

Other intangible assets - Rollf

Other intangible assets - Rollforward of other intangible assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Carrying amount:
Balance at the beginning of the period	$ 17,384	$ 17,574
Additions	177	714
Foreign currency translation adjustment	177	(904)
Balance at the end of the period	17,738	17,384	$ 17,574
Accumulated amortization:
Balance at the beginning of the period	3,533	3,616
Charge for the year	561	531
Foreign currency translation adjustment	(233)	(614)
Balance at the end of the period	3,861	3,533	3,616
Net book value:
Net book value	13,877	13,851	13,958
Trade names
Carrying amount:
Balance at the beginning of the period	7,100	7,100
Additions	0	0
Foreign currency translation adjustment	479	0
Balance at the end of the period	7,579	7,100	7,100
Net book value:
Net book value	7,579	7,100	7,100
Favorable lease assets
Carrying amount:
Balance at the beginning of the period	8,493	8,586
Additions	0	714
Foreign currency translation adjustment	8	(807)
Balance at the end of the period	8,501	8,493	8,586
Accumulated amortization:
Balance at the beginning of the period	2,273	2,486
Charge for the year	373	341
Foreign currency translation adjustment	(10)	(554)
Balance at the end of the period	2,636	2,273	2,486
Net book value:
Net book value	5,865	6,220	6,100
Internet sites
Carrying amount:
Balance at the beginning of the period	1,791	1,888
Additions	177	0
Foreign currency translation adjustment	(310)	(97)
Balance at the end of the period	1,658	1,791	1,888
Accumulated amortization:
Balance at the beginning of the period	1,260	1,130
Charge for the year	188	190
Foreign currency translation adjustment	(223)	(60)
Balance at the end of the period	1,225	1,260	1,130
Net book value:
Net book value	$ 433	$ 531	$ 758

Other intangible assets (Detail

Other intangible assets (Details) - USD ($)	12 Months Ended
Other intangible assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Oct. 21, 2016
Finite-Lived Intangible Assets [Line Items]
Additions	$ 0	$ 714,000	$ 269,000
Impairment of intangible assets	0
Net book value	13,877,000	13,851,000	13,958,000
Amortization expense	561,000	531,000
Continuing operations
Finite-Lived Intangible Assets [Line Items]
Amortization expense	561,000	531,000	375,000
Estimated amortization expense, year ended December 31, 2016	561,000
Estimated amortization expense, year ended December 31, 2017	561,000
Estimated amortization expense, year ended December 31, 2018	561,000
Estimated amortization expense, year ended December 31, 2019	561,000
Estimated amortization expense, year ended December 31, 2020	561,000
Trade names
Finite-Lived Intangible Assets [Line Items]
Net book value	7,579,000	7,100,000	7,100,000
Trade names \| Belmond Grand Hotel Europe
Finite-Lived Intangible Assets [Line Items]
Percentage fair value in excess of carrying value				42.00%
Net book value	7,579,000
Favorable lease assets
Finite-Lived Intangible Assets [Line Items]
Net book value	5,865,000	6,220,000	6,100,000
Amortization expense	373,000	341,000
Favorable lease assets \| Grand Hotel Timeo and Villa Sant' Andrea
Finite-Lived Intangible Assets [Line Items]
Additions		714,000
Internet sites
Finite-Lived Intangible Assets [Line Items]
Net book value	433,000	531,000	$ 758,000
Amortization expense	$ 188,000	$ 190,000
Minimum \| Favorable lease assets
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	19 years
Minimum \| Internet sites
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	5 years
Maximum \| Favorable lease assets
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	60 years
Maximum \| Internet sites
Finite-Lived Intangible Assets [Line Items]
Amortization period (in years)	10 years

Debt and obligations under ca80

Debt and obligations under capital lease - Long-term debt and obligations under capital lease (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%)	$ 602,083	$ 596,428
Obligations under capital lease	19	59
Total long-term debt and obligations under capital leases	602,102	596,487
Less: Current portion	5,284	5,349
Less: Discount on secured term loan	1,515	1,894
Less: Debt issuance costs	9,535	11,701
Non-current portion of long-term debt and obligations under capital lease	$ 585,768	$ 577,543
Weighted average interest rate	4.27%	4.28%
Minimum
Debt Instrument [Line Items]
Period of debt repayment	2 years	4 years
Maximum
Debt Instrument [Line Items]
Period of debt repayment	5 years	13 years

Debt and obligations under ca81

Debt and obligations under capital lease (Details) € in Thousands	Mar. 21, 2014USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2015	Aug. 31, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 1984USD ($)
Debt Instrument [Line Items]
Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%)					$ 602,083,000	$ 596,428,000
Line of credit facility, maximum borrowing capacity					105,525,000	106,082,000
Long-term accrued interest on subordinated debt at Charleston Center LLC (see Note 10)					0	16,540,000
Gain on extinguishment of debt					1,200,000	0	$ (14,506,000)
Guaranteed debt of subsidiaries					488,985,000	499,100,000
Deferred financing costs					9,535,000	11,701,000
Line of credit facility, remaining borrowing capacity					105,525,000	106,082,000
Variable interest entity, primary beneficiary
Debt Instrument [Line Items]
Long-term debt, including current portion, held by consolidated variable interest entities					113,098,000	97,328,000
Deferred financing costs					888,000	$ 707,000
Belmond Ltd
Debt Instrument [Line Items]
Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%)					488,985,000
Line of credit facility, maximum borrowing capacity	$ 105,000,000
Interest rate floor, percentage	1.00%
Secured term loan, annual mandatory amortization, percentage of principal amount	1.00%
Belmond Ltd \| Tranche one
Debt Instrument [Line Items]
Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%)					335,513,000
Belmond Ltd \| Tranche one \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate, percentage	3.00%
Belmond Ltd \| Tranche two
Debt Instrument [Line Items]
Loans from banks and other parties collateralized by tangible and intangible personal property and real estate with a maturity of 2 to 5 years (2015 - four to 13 years), with a weighted average interest rate of 4.27% (2015 - 4.28%)					153,472,000			€ 145,875
Belmond Ltd \| Tranche two \| EURIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate, percentage	3.25%		3.00%
Belmond Ltd \| Credit facility \| LIBOR
Debt Instrument [Line Items]
Basis spread on variable interest rate, percentage	2.75%
Commitment fee, percentage	0.40%
Charleston Center LLC \| Variable interest entity, primary beneficiary
Debt Instrument [Line Items]
Debt instrument, face amount		$ 112,000,000		$ 86,000,000					$ 10,000,000
Long-term accrued interest on subordinated debt at Charleston Center LLC (see Note 10)		$ 16,819,000
Gain on extinguishment of debt					1,200,000
Tax indemnification on debt					$ 2,800,000
Charleston Center LLC \| LIBOR \| Variable interest entity, primary beneficiary
Debt Instrument [Line Items]
Basis spread on variable interest rate, percentage		2.35%		2.12%

Debt and obligations under ca82

Debt and obligations under capital lease - Long-term debt maturities, including obligations under capital lease (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
2,017	$ 5,284
2,018	5,286
2,019	117,298
2,020	5,312
2,021	468,922
2022 and thereafter	0
Total long-term debt and obligations under capital leases	$ 602,102	$ 596,487

Other liabilities (Details)

Other liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Other Liabilities Disclosure [Abstract]
Interest rate swaps (see Note 21)	$ 1,054	$ 1,733
Long-term accrued interest on subordinated debt at Charleston Center LLC (see Note 10)	0	16,540
Deferred gain on sale of Inn at Perry Cabin by Belmond	1,350	1,950
Deferred lease incentive	162	247
Tax indemnity provision on extinguishment of debt (see Note 10)	2,800	0
Total other liabilities	$ 5,366	$ 20,470

Pensions - Schedule of signific

Pensions - Schedule of significant weighted average assumptions (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Discount rate for calculating net periodic benefit costs (as a percent)	3.85%	3.70%	4.50%
Expected long-term rate of return on plan assets (as a percent(	4.90%	4.10%	4.80%
Discount rate for calculating benefit obligation (as a percent)	2.70%	3.85%

Pensions - Schedule of fair val

Pensions - Schedule of fair value of plan assets (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 24,018	$ 24,202	$ 24,968	$ 23,162
Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	22,076	22,176
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,942	2,026
Cash
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,840	1,101
Cash \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,840	1,101
Cash \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Cash \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.K. managed funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,461	5,509
U.K. managed funds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,461	5,509
U.K. managed funds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.K. managed funds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Overseas managed funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,667	4,999
Overseas managed funds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5,667	4,999
Overseas managed funds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Overseas managed funds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.K. government bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,774	860
U.K. government bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,774	860
U.K. government bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
U.K. government bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate bonds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,004	5,847
Corporate bonds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2,004	5,847
Corporate bonds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Corporate bonds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,330	3,860
Quoted hedge funds \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4,330	3,860
Quoted hedge funds \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted hedge funds \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Annuities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,942	2,026
Annuities \| Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Annuities \| Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Annuities \| Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,942	$ 2,026	$ 2,186

Pensions - Reconciliations of f

Pensions - Reconciliations of fair value measurements using significant unobservable inputs (Level 3) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Rollforward of fair values
Fair value of plan assets at beginning of year	$ 24,202	$ 24,968	$ 23,162
Foreign exchange	(4,501)	(1,298)	(1,572)
Actual return on plan assets:
Fair value of plan assets at end of year	24,018	24,202	24,968
Annuities
Rollforward of fair values
Fair value of plan assets at beginning of year	2,026
Actual return on plan assets:
Fair value of plan assets at end of year	1,942	2,026
Level 3
Rollforward of fair values
Fair value of plan assets at beginning of year	2,026
Actual return on plan assets:
Fair value of plan assets at end of year	1,942	2,026
Level 3 \| Annuities
Rollforward of fair values
Fair value of plan assets at beginning of year	2,026	2,186
Foreign exchange	(342)	(112)
Actual return on plan assets:
Assets still held at the reporting date	321	25
Purchases, sales and settlements, net	(63)	(73)
Fair value of plan assets at end of year	$ 1,942	$ 2,026	$ 2,186

Pensions - Schedule of changes

Pensions - Schedule of changes in the benefit obligation, plan assets and funded status of the plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Change in benefit obligation:
Benefit obligation at beginning of year	$ 24,556	$ 27,353	$ 24,768
Interest cost	861	984	1,092
Actuarial loss/(gain)	5,259	(702)	3,680
Benefits paid	(529)	(1,723)	(468)
Foreign currency translation	(4,682)	(1,356)	(1,719)
Benefit obligation at end of year	25,465	24,556	27,353
Change in plan assets:
Fair value of plan assets at beginning of year	24,202	24,968	23,162
Actual return on plan assets	3,116	309	1,821
Employer contributions	1,730	1,946	2,025
Benefits paid	(529)	(1,723)	(468)
Foreign currency translation	(4,501)	(1,298)	(1,572)
Fair value of plan assets at end of year	24,018	24,202	24,968
Funded status at end of year	(1,447)	(354)	(2,385)
Net actuarial loss/(gain) recognized in other comprehensive loss	$ 2,649	$ (727)	$ 2,449

Pensions - Other pension and co

Pensions - Other pension and compensation disclosure tables (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amounts recognized in the consolidated balance sheets
Non-current liabilities	$ 1,447	$ 354
Amounts recognized in accumulated other comprehensive income (loss)
Net loss	(12,583)	(9,934)
Prior service cost	0	0
Net transitional obligation	0	0
Total amount recognized in accumulated other comprehensive loss	(12,583)	(9,934)
Information about pension plans
Projected benefit obligation	25,465	24,556	$ 27,353	$ 24,768
Accumulated benefit obligation	25,465	24,556
Fair value of plan assets	24,018	24,202	24,968	$ 23,162
Components of net periodic pension benefit cost
Service cost	0	0	0
Interest cost	861	984	1,092
Expected return on assets	(1,121)	(1,034)	(1,139)
Net amortization and deferrals	615	750	550
Net periodic benefit cost	355	700	503
Future benefit payments
2,017	531
2,018	440
2,019	609
2,020	488
2,021	627
Next five years	4,253
Employers’ contributions	$ 2,052	$ 2,199	$ 2,527

Pensions (Details)

Pensions (Details) £ in Thousands, $ in Thousands	12 Months Ended
Pensions (Details) £ in Thousands, $ in Thousands	Dec. 31, 2016USD ($)	Dec. 31, 2016GBP (£)	May 31, 2014GBP (£)
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year	$ 1,565	£ 1,272
Estimated net loss amortized from accumulated other comprehensive income (loss) into net periodic pension cost in the next fiscal year	744
Maximum
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Payment Obligation Guaranteed by Parent Company	$ 10,086		£ 8,200

Income taxes (Details)

Income taxes (Details) - USD ($) $ in Thousands	Apr. 01, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax [Line Items]
Difference in taxation rates			$ 9,509	$ 12,948	$ 15,089
Provision for income taxes			16,368	17,041	$ 15,542
Gross amount of tax loss carryforwards			369,523	$ 354,717
Net operating losses carryforwards expiring within five years			11,715
Net operating losses carryforwards expiring after five years but within ten years			78,755
Net operating losses carryforwards expiring after ten years or with no expiry date			$ 279,053
Statutory tax rate, percentage			20.00%	15.00%	0.00%
Deferred tax liability, undistributed foreign earnings			$ 1,669	$ 541
Cumulative amount of unremitted earnings, foreign subsidiaries			1,355,000	1,267,000
Benefit included in tax provision, in respect of the provision for uncertain tax positions			(3,350)	279	$ 545
Charge (benefit) included in tax provision related to potential interest and penalty costs associated with uncertain tax positions			639	247	(426)
Deferred tax provision			4,876	16,320	4,573
Unrecognized tax benefit			318	3,678	3,437	$ 2,988
Unrecognized tax benefits that would affect effective tax rate if recognized			318	$ 3,678	$ 3,437
Amount by which uncertain tax position is reasonably possible to decrease within the next 12 months			$ 80
Foreign Tax Authority \| Her Majesty's Revenue and Customs (HMRC)
Income Tax [Line Items]
Statutory tax rate, percentage	20.00%
Foreign Tax Authority \| Office of the Tax Commissioner, Bermuda
Income Tax [Line Items]
Statutory tax rate, percentage		0.00%

Income taxes - Provision for in

Income taxes - Provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Difference in taxation rates	$ 9,509	$ 12,948	$ 15,089
Pre-tax (loss)/income	40,756	25,354	8,105
Provision for income taxes, Current	16,673	17,164	26,489
Provision for income taxes, Deferred	(305)	(123)	(10,947)
Provision for income taxes	16,368	17,041	15,542
UK
Income Tax [Line Items]
Pre-tax (loss)/income	(6,702)	(18,965)	(3,476)
Provision for income taxes, Current	949	1,585	535
Provision for income taxes, Deferred	(444)	(2,262)	(1,279)
Provision for income taxes	505	(677)	(744)
Bermuda
Income Tax [Line Items]
Pre-tax (loss)/income	160	(4,315)	(25,702)
Provision for income taxes, Current	0	0	0
Provision for income taxes, Deferred	0	0	0
Provision for income taxes	0	0	0
United States
Income Tax [Line Items]
Pre-tax (loss)/income	2,681	1,439	312
Provision for income taxes, Current	(1,510)	1,310	1,867
Provision for income taxes, Deferred	(1,978)	1,698	(193)
Provision for income taxes	(3,488)	3,008	1,674
Brazil
Income Tax [Line Items]
Pre-tax (loss)/income	15,303	10,380	21,275
Provision for income taxes, Current	5,498	2,768	7,872
Provision for income taxes, Deferred	(121)	760	(447)
Provision for income taxes	5,377	3,528	7,425
Italy
Income Tax [Line Items]
Pre-tax (loss)/income	19,971	17,351	9,572
Provision for income taxes, Current	4,468	4,006	6,752
Provision for income taxes, Deferred	1,998	(824)	(1,738)
Provision for income taxes	6,466	3,182	5,014
Peru
Income Tax [Line Items]
Pre-tax (loss)/income	13,965	12,078	9,505
Provision for income taxes, Current	4,261	3,154	3,923
Provision for income taxes, Deferred	1,625	(677)	(1,652)
Provision for income taxes	5,886	2,477	2,271
Rest of the world
Income Tax [Line Items]
Pre-tax (loss)/income	(4,622)	7,386	(3,381)
Provision for income taxes, Current	3,007	4,341	5,540
Provision for income taxes, Deferred	(1,385)	1,182	(5,638)
Provision for income taxes	$ 1,622	$ 5,523	$ (98)

Income taxes - Reconciliation o

Income taxes - Reconciliation of tax charge at statutory tax rate to provision for income taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Earnings/(losses) before provision for income taxes and earnings from unconsolidated companies, net of tax	$ 40,756	$ 25,354	$ 8,105
Tax charge at statutory rate of 20%,15% and Nil%	8,151	3,803	0
Exchange rate movements on deferred tax	(1,785)	(1,912)	(3,680)
Notional interest deductions	(1,812)	(1,867)	(1,622)
Imputed cross border charges	995	716	0
Disallowable goodwill impairment charges	0	2,198	0
Other permanent disallowable expenditure/(income)	483	5,762	2,566
Unrecognized tax loss generated on disposal of Hotel Ritz by Belmond	0	(16,029)	0
Change in valuation allowance	4,876	16,320	4,573
Difference in taxation rates	9,509	12,948	15,089
Change in provisions for uncertain tax positions	(3,350)	279	545
Change in tax rates	(643)	(5,121)	(2,081)
Other	(56)	(56)	152
Provision for income taxes	$ 16,368	$ 17,041	$ 15,542
Statutory tax rate, percentage	20.00%	15.00%	0.00%

Income taxes - Schedule of net

Income taxes - Schedule of net deferred tax liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net deferred tax liabilities
Operating loss carry-forwards	$ 82,292	$ 89,513	$ 111,779
Pensions	255	63	477
Share-based compensation	3,617	2,978	3,872
Other	8,283	8,952	11,559
Less: Valuation allowance	(70,241)	(69,928)	(91,462)
Net deferred tax assets	24,206	31,578	36,225
Other	(5,032)	(7,427)	(6,138)
Property, plant and equipment	(141,231)	(147,265)	(162,625)
Deferred tax liabilities	(146,263)	(154,692)	(168,763)
Net deferred tax liabilities	$ (122,057)	$ (123,114)	$ (132,538)

Income taxes - Reconciliation94

Income taxes - Reconciliation of unrecognized tax benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of unrecognized tax benefits
Balance at the beginning of the year	$ 3,678	$ 3,437	$ 2,988
Additional uncertain tax provision identified during the year	78	78	523
Increase to uncertain tax provision on prior year positions	4	236	49
Uncertain tax provisions settled during the year	(3,308)		(49)
Decreases as a result of expiration of the statute of limitations	(124)	(35)	(27)
Foreign exchange	(10)	(38)	(47)
Balance at the end of the year	318	3,678	3,437
Principal
Reconciliation of unrecognized tax benefits
Balance at the beginning of the year	2,967	2,966	2,935
Additional uncertain tax provision identified during the year	61	62	90
Increase to uncertain tax provision on prior year positions	0	0	49
Uncertain tax provisions settled during the year	(2,668)		(49)
Decreases as a result of expiration of the statute of limitations	(104)	(30)	(20)
Foreign exchange	(7)	(31)	(39)
Balance at the end of the year	249	2,967	2,966
Interest
Reconciliation of unrecognized tax benefits
Balance at the beginning of the year	656	416	7
Additional uncertain tax provision identified during the year	4	7	413
Increase to uncertain tax provision on prior year positions	4	236	0
Uncertain tax provisions settled during the year	(640)		0
Decreases as a result of expiration of the statute of limitations	(2)	(2)	(3)
Foreign exchange	(1)	(1)	(1)
Balance at the end of the year	21	656	416
Penalties
Reconciliation of unrecognized tax benefits
Balance at the beginning of the year	55	55	46
Additional uncertain tax provision identified during the year	13	9	20
Increase to uncertain tax provision on prior year positions	0	0	0
Uncertain tax provisions settled during the year	0		0
Decreases as a result of expiration of the statute of limitations	(18)	(3)	(4)
Foreign exchange	(2)	(6)	(7)
Balance at the end of the year	$ 48	$ 55	$ 55

Interest expense (Details)

Interest expense (Details) - USD ($) $ in Thousands	12 Months Ended
Interest expense (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Interest Expense [Abstract]
Interest expense on long-term debt and obligations under capital lease	$ 27,090	$ 27,380	$ 30,270
Withholding tax provision classified as interest	0	(1,476)	2,576
Interest on legal settlements	(979)	3,294	0
Amortization of debt issuance costs and discount on secured term loan	3,044	2,903	3,921
Total interest expense	$ 29,155	$ 32,101	$ 36,767

Supplemental cash flow inform96

Supplemental cash flow information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash paid during the period for:
Interest	$ 40,930	$ 27,828	$ 30,147
Income taxes, net of refunds	19,804	18,306	$ 21,454
Decrease in accounts payable related to acquisition of property, plant, and equipment	$ 223	$ 229

Restricted cash (Details)

Restricted cash (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 2,585	$ 3,317
Other assets
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash classified as long-term	755	749
Cash deposits required to be held with lending banks as collateral
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	755	749
Prepaid customer deposits which will be released to Belmond under its revenue recognition policy
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	1,341	1,909
Bonds and guarantees
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 489	$ 659

Shareholders' equity (Details)

Shareholders' equity (Details)	12 Months Ended
Shareholders' equity (Details)	Dec. 31, 2016vote / shares$ / sharesshares	Dec. 31, 2015$ / sharesshares
Class of Stock [Line Items]
Authorized preferred shares	30,000,000	30,000,000
Preferred shares, par value (in dollars per share) \| $ / shares	$ 0.01	$ 0.01
Class A common shares
Class of Stock [Line Items]
Common stock shares authorized	240,000,000	240,000,000
Voting right per share \| vote / shares	0.1
Class B common shares
Class of Stock [Line Items]
Common stock shares authorized	120,000,000	120,000,000
Voting right per share \| vote / shares	1
Reduction due to class B common shares owned by a subsidiary (in shares)	18,044,478	18,044,478
Preferred shares at par value
Class of Stock [Line Items]
Authorized preferred shares	30,000,000
Preferred shares, par value (in dollars per share) \| $ / shares	$ 0.01
Series A junior participating preferred shares
Class of Stock [Line Items]
Preferred stock reserved for issuance	500,000

Shareholders' equity - Sharehol

Shareholders' equity - Shareholders' rights plan (Details)	12 Months Ended
Shareholders' equity - Shareholders' rights plan (Details)	Dec. 31, 2016multiplier$ / sharesshares
Class of Stock [Line Items]
Fraction of newly issued share of Series A junior participating preferred stock that could be purchased for each Right \| shares	0.01
Purchase price of preferred stock (in dollars per share)	$ 70
Percentage of assets or earning power sold allowing the right to receive common stock of acquiring company	50.00%
Value of a share of the Company's common stock to be received upon the exercise of the right if the Company is acquired or 50 percent or more of its consolidated assets or earning power is sold, expressed as a multiple of the exercise price of the right \| multiplier	2
Percentage of common stock to be acquired in which the Company's board of directors may exchange all or some of the rights, minimum	15.00%
Percentage of common stock to be acquired in which the Company's board of directors may exchange all or some of the rights, maximum (less than)	50.00%
Redemption price per right at any time prior to the tenth day following the date on which a person acquires beneficial ownership of 15% or more of the outstanding class A or class B common shares (in dollars per share)	$ 0.05
Class A common shares
Class of Stock [Line Items]
Minimum percentage of common stock to be acquired for shareholder rights to become exercisable	15.00%
Minimum percentage of common stock to be acquired in a tender offer or exchange offer for shareholder rights to become exercisable	30.00%
Class B common shares
Class of Stock [Line Items]
Minimum percentage of common stock to be acquired for shareholder rights to become exercisable	15.00%
Minimum percentage of common stock to be acquired in a tender offer or exchange offer for shareholder rights to become exercisable	30.00%

Share-based compensation pla100

Share-based compensation plans (Details) $ in Thousands	12 Months Ended
Share-based compensation plans (Details) $ in Thousands	Dec. 31, 2016USD ($)share_based_planshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2010shares	Jun. 30, 2009shares
Share-based compensation plans
Number of share-based compensation plans \| share_based_plan	2
Compensation cost \| $	$ 6,272	$ 6,707	$ 7,928
Cash received from exercised options and vested awards \| $	17	$ 35	$ 19
Total unrecognized compensation cost related to unexercised stock options and unvested share awards \| $	$ 7,990
Total unrecognized compensation cost related to unexercised stock options and unvested share awards, recognition period (in months)	26 months
2009 share award and incentive plan \| Class A common shares
Share-based compensation plans
Number of shares reserved for issuance					1,084,550
Increase in number of shares authorized (in shares)			5,000,000	4,000,000
Share options \| Class A common shares
Share-based compensation plans
Award expiration period	10 years
Share options \| 2004 stock option plans \| Class A common shares
Share-based compensation plans
Award expiration period	10 years
Award vesting period	3 years
Number of shares available for grant	0
Fair value of options exercised \| $	$ 5
Number of options vested during the period	0
Granted (in shares)	0
Share options \| 2004 stock option plan \| Class A common shares
Share-based compensation plans
Maximum number of options to purchase class A common shares under the plan (in shares)	1,000,000
Number of shares reserved for issuance	66,350
Share options \| 2009 share award and incentive plan \| Class A common shares
Share-based compensation plans
Fair value of options exercised \| $	$ 277
Number of options vested during the period	654,469
Granted (in shares)	518,300	759,474
Total fair value of stock options granted \| $	$ 1,693
Fair value of options that became exercisable during the period \| $	$ 3,266
Deferred shares \| Class A common shares
Share-based compensation plans
Award expiration period	4 years
Deferred shares \| 2009 share award and incentive plan \| Class A common shares
Share-based compensation plans
Number of shares reserved for issuance	1,193,775
Fair value of awards issued during the period \| $	$ 5,848
Fair value of shares vested in the period \| $	$ 3,952
Options, vested and expected to vest, outstanding, number	0
Deferred shares without performance criteria \| 2009 share award and incentive plan \| Class A common shares
Share-based compensation plans
Number of shares reserved for issuance	702,572
Deferred shares with performance criteria \| 2009 share award and incentive plan \| Class A common shares
Share-based compensation plans
Number of shares reserved for issuance	491,203

Share-based compensation pla101

Share-based compensation plans - Schedule of status of options, and changes during the period (Details) - Share options - Class A common shares - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
2004 stock option plans
Number of shares subject to options
Outstanding (in shares)	85,650	216,350
Exercised (in shares)	(2,548)	(29,262)
Forfeited, cancelled or expired (in shares)	(16,752)	(101,438)
Outstanding (in shares)	66,350	85,650
Exercisable (in shares)	66,350
Weighted average exercise price
Outstanding, weighted average exercise price (in dollars per share)	$ 36.30	$ 30.45
Exercised, weighted average exercise price (in dollars per share)	5.89	5.89
Forfeited, cancelled or expired, weighted average exercise price (in dollars per share)	27.75	32.59
Outstanding, weighted average exercise price (in dollars per share)	39.63	$ 36.30
Exercisable (in dollars per share)	$ 39.63
Weighted average remaining contractual life
Outstanding, weighted average remaining contractual life	1 year 2 months
Exercisable, weighted average remaining contractual life	1 year 2 months
Aggregate intrinsic value
Outstanding, aggregate intrinsic value	$ 116
Exercisable, aggregate intrinsic value	$ 116
2009 share award and incentive plan
Number of shares subject to options
Outstanding (in shares)	2,702,957	3,089,633
Exercised (in shares)	(59,833)	(100,262)
Forfeited, cancelled or expired (in shares)	(516,935)	(1,045,888)
Outstanding (in shares)	2,644,489	2,702,957
Exercisable (in shares)	1,347,734
Weighted average exercise price
Outstanding, weighted average exercise price (in dollars per share)	$ 10.97	$ 11.20
Granted, weighted average exercise price (in dollars per share)	11.61	10.48
Exercised, weighted average exercise price (in dollars per share)	9.35	8.60
Forfeited, cancelled or expired, weighted average exercise price (in dollars per share)	10.77	11.51
Outstanding, weighted average exercise price (in dollars per share)	11.17	$ 10.97
Exercisable (in dollars per share)	$ 10.91
Weighted average remaining contractual life
Outstanding, weighted average remaining contractual life	7 years 4 months
Exercisable, weighted average remaining contractual life	5 years 10 months
Aggregate intrinsic value
Outstanding, aggregate intrinsic value	$ 6,175
Exercisable, aggregate intrinsic value	$ 3,592

Share-based compensation pla102

Share-based compensation plans - Schedule of options outstanding (Details) - Share options - Class A common shares	12 Months Ended
	Dec. 31, 2016$ / sharesshares
2004 stock option plans
Share-based compensation plans
Outstanding (in shares)	66,350
Exercisable (in shares)	66,350
2004 stock option plans \| Exercise price $5.89
Share-based compensation plans
Outstanding (in shares)	15,600
Exercisable (in shares)	15,600
Remaining contractual lives in years	1 year 10 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 5.89
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 5.89
2004 stock option plans \| Exercise price $35.85
Share-based compensation plans
Outstanding (in shares)	6,550
Exercisable (in shares)	6,550
Remaining contractual lives in years	1 year 8 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 35.85
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 35.85
2004 stock option plans \| Exercise price $46.08
Share-based compensation plans
Outstanding (in shares)	5,550
Exercisable (in shares)	5,550
Remaining contractual lives in years	1 year 4 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 46.08
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 46.08
2004 stock option plans \| Exercise price $51.90
Share-based compensation plans
Outstanding (in shares)	4,950
Exercisable (in shares)	4,950
Remaining contractual lives in years	1 year 2 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 51.90
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 51.90
2004 stock option plans \| Exercise price $52.51
Share-based compensation plans
Outstanding (in shares)	27,250
Exercisable (in shares)	27,250
Remaining contractual lives in years	8 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 52.51
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 52.51
2004 stock option plans \| Exercise price $52.51
Share-based compensation plans
Outstanding (in shares)	1,050
Exercisable (in shares)	1,050
Remaining contractual lives in years	2 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 52.51
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 52.51
2004 stock option plans \| Exercise price $52.59
Share-based compensation plans
Outstanding (in shares)	2,350
Exercisable (in shares)	2,350
Remaining contractual lives in years	5 months
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 52.59
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 52.59
2004 stock option plans \| Exercise price $59.23
Share-based compensation plans
Outstanding (in shares)	3,050
Exercisable (in shares)	3,050
Remaining contractual lives in years	10 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 59.23
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 59.23
2009 share award and incentive plan
Share-based compensation plans
Outstanding (in shares)	2,644,489
Exercisable (in shares)	1,347,734
2009 share award and incentive plan \| Exercise price $8.38
Share-based compensation plans
Outstanding (in shares)	28,600
Exercisable (in shares)	28,600
Remaining contractual lives in years	2 years 4 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 8.38
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 8.38
2009 share award and incentive plan \| Exercise price $8.91
Share-based compensation plans
Outstanding (in shares)	45,700
Exercisable (in shares)	45,700
Remaining contractual lives in years	2 years 10 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 8.91
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 8.91
2009 share award and incentive plan \| Exercise price $8.37
Share-based compensation plans
Outstanding (in shares)	42,200
Exercisable (in shares)	42,200
Remaining contractual lives in years	3 years 5 months
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 8.37
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 8.37
2009 share award and incentive plan \| Exercise price $11.44
Share-based compensation plans
Outstanding (in shares)	85,550
Exercisable (in shares)	85,550
Remaining contractual lives in years	3 years 10 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 11.44
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 11.44
2009 share award and incentive plan \| Exercise price $11.69
Share-based compensation plans
Outstanding (in shares)	65,100
Exercisable (in shares)	65,100
Remaining contractual lives in years	4 years 4 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 11.69
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 11.69
2009 share award and incentive plan \| Exercise price $8.06
Share-based compensation plans
Outstanding (in shares)	181,750
Exercisable (in shares)	181,750
Remaining contractual lives in years	4 years 10 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 8.06
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 8.06
2009 share award and incentive plan \| Exercise price $9.95
Share-based compensation plans
Outstanding (in shares)	31,700
Exercisable (in shares)	31,700
Remaining contractual lives in years	5 years 2 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 9.95
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 9.95
2009 share award and incentive plan \| Exercise price $8.42
Share-based compensation plans
Outstanding (in shares)	115,500
Exercisable (in shares)	115,500
Remaining contractual lives in years	5 years 5 months
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 8.42
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 8.42
2009 share award and incentive plan \| Exercise price $11.32
Share-based compensation plans
Outstanding (in shares)	198,350
Exercisable (in shares)	198,350
Remaining contractual lives in years	5 years 10 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 11.32
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 11.32
2009 share award and incentive plan \| Exercise price $9.95
Share-based compensation plans
Outstanding (in shares)	31,700
Exercisable (in shares)	31,700
Remaining contractual lives in years	6 years 1 month 9 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 9.95
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 9.95
2009 share award and incentive plan \| Exercise price $11.74
Share-based compensation plans
Outstanding (in shares)	103,800
Exercisable (in shares)	103,800
Remaining contractual lives in years	6 years 5 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 11.74
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 11.74
2009 share award and incentive plan \| Exercise price $14.51
Share-based compensation plans
Outstanding (in shares)	242,950
Exercisable (in shares)	242,950
Remaining contractual lives in years	6 years 12 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 14.51
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 14.51
2009 share award and incentive plan \| Exercise price $14.08
Share-based compensation plans
Outstanding (in shares)	127,100
Exercisable (in shares)	23,000
Remaining contractual lives in years	7 years 5 months 20 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 14.08
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 14.08
2009 share award and incentive plan \| Exercise price $11.57
Share-based compensation plans
Outstanding (in shares)	286,183
Exercisable (in shares)	0
Remaining contractual lives in years	7 years 12 months 12 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 11.57
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 0
2009 share award and incentive plan \| Exercise price $12.50
Share-based compensation plans
Outstanding (in shares)	96,169
Exercisable (in shares)	30,919
Remaining contractual lives in years	8 years 6 months 11 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 12.50
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 12.50
2009 share award and incentive plan \| Exercise price $13.75
Share-based compensation plans
Outstanding (in shares)	96,165
Exercisable (in shares)	24,041
Remaining contractual lives in years	8 years 8 months 20 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 13.75
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 13.75
2009 share award and incentive plan \| Exercise price $8.98
Share-based compensation plans
Outstanding (in shares)	375,072
Exercisable (in shares)	96,874
Remaining contractual lives in years	8 years 10 months 20 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 8.98
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 8.98
2009 share award and incentive plan \| Exercise Price $9.64
Share-based compensation plans
Outstanding (in shares)	163,200
Exercisable (in shares)	0
Remaining contractual lives in years	9 years 5 months 24 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 9.64
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 0
2009 share award and incentive plan \| Exercise Price $12.75
Share-based compensation plans
Outstanding (in shares)	327,700
Exercisable (in shares)	0
Remaining contractual lives in years	9 years 10 months 19 days
Exercise prices for outstanding options (in dollars per share) \| $ / shares	$ 12.75
Exercise prices for exercisable options (in dollars per share) \| $ / shares	$ 0

Share-based compensation pla103

Share-based compensation plans - Fair value assumptions for share-based compensation plans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based compensation plans
Expected annual dividend, (usd per share)	$ 0	$ 0	$ 0
Share options
Share-based compensation plans
Expected life of awards (in years)			4 years 6 months
Expected share price volatility, minimum (percentage)	29.00%	28.00%	45.00%
Expected share price volatility, maximum (percentage)	40.00%	58.00%	46.00%
Risk-free interest rate, minimum (percentage)	0.76%	0.65%	1.53%
Risk-free interest rate, maximum (percentage)	1.84%	1.83%	1.71%
Share options \| Minimum
Share-based compensation plans
Expected life of awards (in years)	2 years 6 months	2 years 6 months
Share options \| Maximum
Share-based compensation plans
Expected life of awards (in years)	5 years 6 months	6 years 10 months 24 days
Share options \| Class A common shares \| Vesting December 4, 2017 II \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	29.00%
Risk-free interest rate (as a percent)	1.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	2 years 6 months
Granted (in shares)	81,925
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 12.75
Share options \| Class A common shares \| Vesting December 4, 2018 II \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	30.00%
Risk-free interest rate (as a percent)	1.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	3 years 6 months
Granted (in shares)	81,925
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 12.75
Share options \| Class A common shares \| Vesting December 4, 2019 II \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	34.00%
Risk-free interest rate (as a percent)	1.84%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	4 years 6 months
Granted (in shares)	81,925
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 12.75
Share options \| Class A common shares \| Vesting December 4, 2020 \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	40.00%
Risk-free interest rate (as a percent)	1.84%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	5 years 6 months
Granted (in shares)	81,925
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 12.75
Share options \| Class A common shares \| Vesting June 24, 2017 \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	29.00%
Risk-free interest rate (as a percent)	0.76%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	2 years 6 months
Granted (in shares)	47,650
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 9.64
Share options \| Class A common shares \| Vesting June 24, 2018 \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	30.00%
Risk-free interest rate (as a percent)	0.76%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	3 years 6 months
Granted (in shares)	47,650
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 9.64
Share options \| Class A common shares \| Vesting June 24, 2019 \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	34.00%
Risk-free interest rate (as a percent)	1.08%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	4 years 6 months
Granted (in shares)	47,650
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 9.64
Share options \| Class A common shares \| Vesting June 24, 2020 \| 2009 share award and incentive plan
Share-based compensation plans
Expected share price volatility (as a percent)	39.00%
Risk-free interest rate (as a percent)	1.08%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments	$ 0
Expected life of awards (in years)	5 years 6 months
Granted (in shares)	47,650
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 9.64
Restricted Stock without Performance Criteria Share-based Payments \| Vesting June 24, 2017 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	81,551
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting August 1, 2017 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	3,287
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting August 1, 2018 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	3,287
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting August 1, 2019 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	3,286
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting August 1, 2020 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	3,286
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| On Retirement \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	61,164
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting March 18, 2017 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	43,625
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting March 18, 2018 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	43,625
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting March 18, 2019 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	43,625
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting March 18, 2020 \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	43,625
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01
Restricted Stock without Performance Criteria Share-based Payments \| Vesting March 18, 2019 II \| 2009 share award and incentive plan
Share-based compensation plans
Granted (in shares)	293,900
Deferred Compensation Arrangement with Individual, Exercise Price (usd per share)	$ 0.01

Share-based compensation pla104

Share-based compensation plans - Schedule of status of awards other than options, and changes during the period (Details) - 2009 share award and incentive plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Deferred shares \| Class A common shares
Shares
Outstanding (in shares)	1,162,187	1,851,309
Granted (in shares)	624,261	653,787
Vested and issued (in shares)	(331,299)	(535,407)
Forfeited, cancelled or expired (in shares)	(261,374)	(807,502)
Outstanding (in shares)	1,193,775	1,162,187
Weighted average exercise price
Outstanding, weighted average exercise price (in dollars per share)	$ 0.01	$ 0.01
Granted, weighted average exercise price (in dollars per share)	0.01	0.01
Vested and issued, weighted average exercise price (in dollars per share)	0.01	0.01
Forfeited, cancelled or expired, weighted average exercise price (in dollars per share)	0.01	0.01
Outstanding, weighted average exercise price (in dollars per share)	$ 0.01	$ 0.01
Aggregate intrinsic value
Outstanding, aggregate intrinsic value	$ 15,925
Vesting August 1, 2017 \| Restricted Stock without Performance Criteria Share-based Payments
Shares
Granted (in shares)	3,287
Vesting March 18, 2019 \| Restricted Stock without Performance Criteria Share-based Payments
Shares
Granted (in shares)	43,625
Vesting March 18, 2017 \| Restricted Stock without Performance Criteria Share-based Payments
Shares
Granted (in shares)	43,625
On Retirement \| Restricted Stock without Performance Criteria Share-based Payments
Shares
Granted (in shares)	61,164
Vesting June 24, 2017 \| Share options \| Class A common shares
Shares
Granted (in shares)	47,650
Vesting June 24, 2017 \| Restricted Stock without Performance Criteria Share-based Payments
Shares
Granted (in shares)	81,551
Vesting March 18, 2019 II \| Restricted Stock without Performance Criteria Share-based Payments
Shares
Granted (in shares)	293,900

Commitments and contingencie105

Commitments and contingencies (Details) BRL in Thousands, $ in Thousands

Jun. 26, 2015USD ($)

Mar. 02, 2010USD ($)

Jan. 31, 2015

Dec. 31, 2016USD ($)installment

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Dec. 31, 2013USD ($)

Dec. 31, 2016BRL

Aug. 31, 2016

Jul. 31, 2015USD ($)

Jun. 30, 2015USD ($)

Mar. 31, 2015USD ($)

Mar. 31, 2015BRL

Feb. 28, 2013USD ($)

Commitments

Operating leases, future minimum payments due, next 12 months

$ 12,028

Term of Concession

10 years

Rental expense

$ 13,037

$ 10,675

$ 13,007

Percentage of purchase price to be paid for purchase of Hotel Cipriani in Venice, Italy by James Sherwood on exercise of first refusal right

80.00%

Percentage of purchase price to be paid for purchase of Hotel Cipriani in Venice, Italy by James Sherwood on exercise of purchase option by non-recourse promissory note

100.00%

Number of installments for payment of purchase price for Hotel Cipriani in Venice Italy by James Sherwood on exercise of purchase option by non-recourse promissory note | installment

Significant acquisitions and disposals, length of time before expiry of former director's right of first refusal and purchase option after his death (in years)

1 year

Infringement litigation of Cipriani

Commitments

Amount received from defendants

$ 3,947

Amount receivable from defendants in installments

$ 9,833

Period for receivable amount from defendants in installments (over) (in years)

5 years

Amount receivable from defendants not yet recognized

$ 1,178

Ubud Hanging Gardens

Commitments

Litigation settlement amount

$ 8,500

Impairment of long-lived assets to be disposed of

$ 7,031

Copacabana Palace | Unasserted claim

Commitments

Maximum potential fine, not accrued

$ 27,000

Belmond Hotel das Cataratas | Favorable lease assets

Commitments

Amount reserved

$ 6,583

BRL 21,461

Estimate of possible loss

$ 5,215

BRL 17,000

Proposed change in rent rate

25.00%

Porto Cupecoy | Settlement with Taxing Authority

Commitments

Estimate of possible loss

$ 16,500

Purchase of property, plant and equipment

Commitments

Purchase commitment

$ 7,772

$ 8,662

Commitments and contingencies -

Commitments and contingencies - Future operating lease payments (Details) $ in Thousands	Dec. 31, 2016USD ($)
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity
2,017	$ 12,028
2,018	12,254
2,019	10,549
2,020	10,379
2,021	10,935
2022 and thereafter	70,275
Future rental payments under operating leases	$ 126,420

Fair value measurements - Summa

Fair value measurements - Summary of valuation by the fair value hierarchy (Details) - Recurring basis - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets at fair value:
Derivative Asset	$ 0	$ 4
Total assets	0	4
Liabilities at fair value:
Derivative Liability	(3,364)	(4,464)
Total net liabilities	(3,364)	(4,460)
Level 1
Assets at fair value:
Derivative Asset	0	0
Total assets	0	0
Liabilities at fair value:
Derivative Liability	0	0
Total net liabilities	0	0
Level 2
Assets at fair value:
Derivative Asset	0	4
Total assets	0	4
Liabilities at fair value:
Derivative Liability	(3,364)	(4,464)
Total net liabilities	(3,364)	(4,460)
Level 3
Assets at fair value:
Derivative Asset	0	0
Total assets	0	0
Liabilities at fair value:
Derivative Liability	0	0
Total net liabilities	$ 0	$ 0

Fair value measurements - Estim

Fair value measurements - Estimated carrying values, fair values, and levels of the fair value hierarchy of long-term debt (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Estimated fair values of financial instruments (other than derivative financial instruments)
Carrying amounts - Total long-term debt, before deduction of discount on secured term loan and debt issuance costs, excluding obligations under capital leases	$ 602,083	$ 596,428
Level 2
Estimated fair values of financial instruments (other than derivative financial instruments)
Carrying amounts - Total long-term debt, before deduction of discount on secured term loan and debt issuance costs, excluding obligations under capital leases	602,083	596,428
Fair value - Total long-term debt, before deduction of discount on secured term loan and debt issuance costs, excluding obligations under capital leases	$ 626,613	$ 630,455

Fair value measurements - Non-f

Fair value measurements - Non-financial assets measured at fair value on a non-recurring basis (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment	$ 0	$ (1,007,000)	$ 0	$ (1,211,000)
Impairment of goodwill of discontinued operations		0	(9,796,000)	0
Property, plant and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment		(1,007,000)		(1,211,000)
Fair value measurements, non-recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure		0		2,488,000
Goodwill of discontinued operations, fair value disclosure			10,050,000
Fair value measurements, non-recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure		0		0
Goodwill of discontinued operations, fair value disclosure			0
Fair value measurements, non-recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure		0		0
Goodwill of discontinued operations, fair value disclosure			0
Fair value measurements, non-recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure		$ 0		$ 2,488,000
Goodwill of discontinued operations, fair value disclosure			$ 10,050,000

Fair value measurements (Detail

Fair value measurements (Details) - USD ($)	9 Months Ended	12 Months Ended
Fair value measurements (Details) - USD ($)	Sep. 30, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of goodwill		$ 0	$ 9,796,000	$ 0
Impairment of property, plant and equipment	$ 0	1,007,000	0	1,211,000
Property, plant and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment		1,007,000		1,211,000
Belmond Jimbaran Puri, Belmond La Residence Phou Vao, and Belmond Northern Belle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, fair value disclosure			5,698,000
Impairment of goodwill			5,698,000
Belmond Grand Hotel Europe
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of goodwill		4,098,000
Belmond Grand Hotel Europe
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, fair value disclosure			14,148,000
Impairment of goodwill			4,098,000
Fair value measurements, non-recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, fair value disclosure			10,050,000
Property, plant and equipment, fair value disclosure		0		2,488,000
Fair value measurements, non-recurring \| Belmond Jimbaran Puri, Belmond La Residence Phou Vao, and Belmond Northern Belle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, fair value disclosure			0
Fair value measurements, non-recurring \| Belmond Grand Hotel Europe
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill, fair value disclosure			$ 10,050,000
Belmond Orcaella \| Property, plant and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment		1,007,000
Belmond Orcaella \| Carrying value prior to impairment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure		1,007,000
Belmond Orcaella \| Fair value measurements, non-recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure		$ 0
Great South Pacific Express
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment				1,211,000
Great South Pacific Express \| Property, plant and equipment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of property, plant and equipment				1,211,000
Great South Pacific Express \| Carrying value prior to impairment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure				3,699,000
Great South Pacific Express \| Fair value measurements, non-recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Property, plant and equipment, fair value disclosure				$ 2,488,000

Derivatives and hedging acti111

Derivatives and hedging activities - Notional amounts of outstanding interest rate derivatives (Details) € in Thousands, $ in Thousands	Dec. 31, 2016USD ($)	Dec. 31, 2016EUR (€)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
Interest rate swaps
Derivative [Line Items]
Derivative, notional amount	$ 210,756	€ 72,938	$ 212,481	€ 73,688
Interest rate caps
Derivative [Line Items]
Derivative, notional amount	$ 17,200		$ 17,200

Derivatives and hedging acti112

Derivatives and hedging activities - Fair value of derivative financial instruments (Details) - Derivatives designated in a cash flow hedging relationship - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair value of derivative financial instruments
Total	$ (3,364)	$ (4,460)
Interest rate swaps \| Other assets
Fair value of derivative financial instruments
Fair value of assets	0	4
Interest rate swaps \| Accrued liabilities
Fair value of derivative financial instruments
Fair value of liabilities	(2,310)	(2,731)
Interest rate swaps \| Other liabilities
Fair value of derivative financial instruments
Fair value of liabilities	$ (1,054)	$ (1,733)

Derivatives and hedging acti113

Derivatives and hedging activities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Gain (loss) recorded in other comprehensive income/(loss)	$ 4,975	$ 18,221	$ 24,816
Fair value of derivatives in a net liability position	3,364	4,464
Assets required to settle obligations under derivatives with credit-risk-related contingent features upon breach of provisions, termination value	3,370	4,513
Fair value of non-derivative hedging instruments	153,472	$ 160,138
Interest rate swaps
Derivative [Line Items]
Amount accounted for in other comprehensive income/(loss), which is expected to be reclassified to interest expense in the next 12 months	$ 2,266

Accumulated other comprehens114

Accumulated other comprehensive loss - Schedule of accumulated other comprehensive income/(loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (334,542)
Ending Balance	(346,777)	$ (334,542)
OCI foreign currency translation adjustments before reclassification, tax	(809)	0
OCI pension liability before reclassification, tax	(530)	147
OCI derivative financial instruments before reclassification, tax	(889)	(1,310)
OCI foreign currency translation adjustments reclassified, tax	0	0
OCI derivative financial instruments reclassified, tax	1,111	958
OCI pension liability before reclassified, tax	0	0
Accumulated other comprehensive income/(loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(334,542)	(246,420)
Other comprehensive loss before reclassifications, net of tax benefit of $(809), $(889) and $(530)	(15,044)	(91,071)
Amounts reclassified from AOCI, net of tax provision of $Nil, $1,111 and $Nil	2,809	2,949
Net current period other comprehensive (loss)/income	(12,235)	(88,122)
Ending Balance	(346,777)	(334,542)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(320,508)	(232,328)
Other comprehensive loss before reclassifications, net of tax benefit of $(809), $(889) and $(530)	(10,983)	(88,180)
Amounts reclassified from AOCI, net of tax provision of $Nil, $1,111 and $Nil	0	0
Net current period other comprehensive (loss)/income	(10,983)	(88,180)
Ending Balance	(331,491)	(320,508)
Derivative financial instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(4,091)	(3,569)
Other comprehensive loss before reclassifications, net of tax benefit of $(809), $(889) and $(530)	(1,942)	(3,471)
Amounts reclassified from AOCI, net of tax provision of $Nil, $1,111 and $Nil	2,809	2,949
Net current period other comprehensive (loss)/income	867	(522)
Ending Balance	(3,224)	(4,091)
Pension liability
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(9,943)	(10,523)
Other comprehensive loss before reclassifications, net of tax benefit of $(809), $(889) and $(530)	(2,119)	580
Amounts reclassified from AOCI, net of tax provision of $Nil, $1,111 and $Nil	0	0
Net current period other comprehensive (loss)/income	(2,119)	580
Ending Balance	$ (12,062)	$ (9,943)

Accumulated other comprehens115

Accumulated other comprehensive loss - Reclassifications out of AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cash flows from derivative financial instruments related to interest payments made for the hedged debt instrument	$ 29,155	$ 32,101	$ 36,767
Total reclassifications for the period	36,433	15,854	$ (1,735)
Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period	2,809	2,949
Interest expense \| Derivative financial instruments \| Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cash flows from derivative financial instruments related to interest payments made for the hedged debt instrument	$ 2,809	$ 2,949

Segment information (Details)

Segment information (Details)	12 Months Ended
Segment information (Details)	Dec. 31, 2016segment
Segment Reporting [Abstract]
Number of reportable segments	6

Segment information - Revenue b

Segment information - Revenue by segment (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	[1]	$ 549,824	$ 551,385	$ 585,715
Hotel
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		475,374	472,531	498,061
Hotel \| Segment: Hotels - part-owned/ managed
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		4,400	5,232	5,983
Hotel \| Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		199,251	200,059	212,744
Hotel \| North America
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		145,868	148,103	142,586
Hotel \| Rest of world
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		130,255	124,369	142,731
Trains and cruises
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		59,287	65,471	74,265
Trains and cruises \| Segment: Trains - part-owned/ managed
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		10,763	8,151	7,406
Trains and cruises \| Part owned trains and hotels
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue		$ 15,163	$ 13,383	$ 13,389

[1]	Includes revenue from related parties of $15,458,000, $13,123,000 and $12,988,000, respectively

Segment information - Reconcili

Segment information - Reconciliation of total segment profit/(loss) to consolidated (Details) - USD ($)		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		$ 165,158,000	$ 158,950,000	$ 152,589,000
Gain on disposal of property, plant and equipment and equity method investments		938,000	20,275,000	4,128,000
Impairment of goodwill		0	(9,796,000)	0
Impairment of property, plant and equipment		(1,007,000)	0	(1,211,000)
Central costs		(31,086,000)	(40,123,000)	(32,351,000)
Share-based compensation		(6,272,000)	(6,707,000)	(7,928,000)
Depreciation and amortization		(52,396,000)	(50,513,000)	(52,004,000)
Gain/(loss) on extinguishment of debt		1,200,000	0	(14,506,000)
Other income		0	0	1,257,000
Interest income	[1]	853,000	926,000	1,418,000
Interest expense		(29,155,000)	(32,101,000)	(36,767,000)
Foreign currency, net		9,186,000	(5,016,000)	2,262,000
Provision for income taxes		(16,368,000)	(17,041,000)	(15,542,000)
Share of (provision for)/benefit from income taxes of unconsolidated companies		(5,650,000)	(1,466,000)	702,000
Earnings from continuing operations		35,401,000	17,388,000	2,047,000
Net earnings/(losses) from discontinued operations		1,032,000	(1,534,000)	(3,782,000)
Net earnings/(losses)		36,433,000	15,854,000	(1,735,000)
Hotel
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		129,472,000	128,333,000	123,295,000
Hotel \| Segment: Hotels - part-owned/ managed
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		6,299,000	4,993,000	5,829,000
Hotel \| Europe
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		67,590,000	65,416,000	62,770,000
Hotel \| North America
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		28,767,000	31,622,000	23,986,000
Hotel \| Rest of world
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		33,115,000	31,295,000	36,539,000
Trains and cruises
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		3,834,000	6,741,000	7,300,000
Trains and cruises \| Segment: Trains - part-owned/ managed
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		25,553,000	18,883,000	16,165,000
Trains and cruises \| Part owned trains and hotels
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment profit/(loss)		$ 31,852,000	$ 23,876,000	$ 21,994,000

[1]	Includes interest income from related parties of $0, $301,000, and $904,000, respectively

Segment information - Reconc119

Segment information - Reconciliation of assets from segments to consolidated (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	[1]	$ 1,524,068	$ 1,509,475
Unallocated corporate
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		129,582	94,386
Hotel
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		1,218,013	1,238,898
Hotel \| Segment: Hotels - part-owned/ managed
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		20,007	19,285
Hotel \| Europe
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		504,758	533,610
Hotel \| North America
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		468,088	477,949
Hotel \| Rest of world
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		245,167	227,339
Trains and cruises
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		88,069	94,945
Trains and cruises \| Segment: Trains - part-owned/ managed
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		68,397	61,961
Trains and cruises \| Part owned trains and hotels
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets		$ 88,404	$ 81,246

[1]	Included in Belmond Ltd.’s consolidated assets and liabilities are assets of consolidated variable interest entities (“consolidated VIEs”) that can only be used to settle obligations of the consolidated VIEs and liabilities of consolidated VIEs whose creditors have no recourse to Belmond Ltd. The Company’s only consolidated VIE at December 31, 2016 and December 31, 2015 is Charleston Center LLC. These assets and liabilities at December 31, 2016 and December 31, 2015 are as follows: December 31, 2016 December 31, 2015 $’000 $’000 Assets Cash and cash equivalents 2,233 2,569Accounts receivable, net of allowances of $Nil and $Nil 3,066 2,712Prepaid expenses and other 365 1,232Inventories 1,296 1,231Total current assets 6,960 7,744 Property, plant and equipment, net of accumulated depreciation of $35,902 and $30,260 201,861 201,342Other assets 1,455 1,566Total assets 210,276 210,652 Liabilities Accounts payable 4,558 3,764Accrued liabilities 3,099 2,910Deferred revenue 1,714 2,551Current portion of long-term debt and obligations under capital leases 242 229Total current liabilities 9,613 9,454 Long-term debt and obligations under capital leases 111,968 96,392Other liabilities 40 16,540Total liabilities 121,621 122,386See further description in Note 5, Variable interest entities.

Segment information - Reconc120

Segment information - Reconciliation of other significant reconciling items from segments to consolidated (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	$ 55,104	$ 56,395	$ 63,454
Total investment in equity method investees	79,327	71,724
Total earnings from unconsolidated companies, net of tax	11,013	9,075	9,484
Eastern & Oriental Express
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total investment in equity method investees	2,818	2,972
Peru hotels
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total investment in equity method investees	19,769	18,696
PeruRail
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total investment in equity method investees	53,652	47,421
Buzios
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total investment in equity method investees	2,998	2,542
Other
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total investment in equity method investees	90	93
Unallocated corporate
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	1,459	283	280
Hotel
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	40,763	44,697	57,641
Hotel \| Segment: Hotels - part-owned/ managed
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total earnings from unconsolidated companies, net of tax	1,112	106	1,949
Hotel \| Europe
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	11,777	18,648	26,542
Hotel \| North America
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	9,796	11,881	16,690
Hotel \| Rest of world
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	19,190	14,168	14,409
Trains and cruises
Segment Reporting, Other Significant Reconciling Item [Line Items]
Total capital expenditure to acquire property, plant and equipment	12,882	11,415	5,533
Total earnings from unconsolidated companies, net of tax	$ 9,901	$ 8,969	$ 7,535

Segment information - Revenues

Segment information - Revenues and long-lived assets by location of property (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue	[1]	$ 549,824	$ 551,385	$ 585,715
Total property, plant and equipment at book value		1,074,676	1,078,361
Bermuda
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue		0	0	0
Total property, plant and equipment at book value		0	0
Italy
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue		128,671	132,385	137,491
Total property, plant and equipment at book value		294,773	308,035
United Kingdom
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue		56,016	62,656	68,412
Total property, plant and equipment at book value		48,577	57,443
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue		108,238	107,965	104,146
Total property, plant and equipment at book value		343,342	346,942
Brazil
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue		73,300	69,142	86,866
Total property, plant and equipment at book value		73,843	61,773
All other countries
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenue		183,599	179,237	$ 188,800
Total property, plant and equipment at book value		$ 314,141	$ 304,168

[1]	Includes revenue from related parties of $15,458,000, $13,123,000 and $12,988,000, respectively

Related party transactions (Det

Related party transactions (Details) € in Thousands	Apr. 19, 2016USD ($)	May 21, 2015USD ($)	May 21, 2015EUR (€)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2007
Related party transactions
Fees earned from Eastern and Oriental Express Ltd.				$ 15,458,000	$ 13,123,000	$ 12,988,000
Crawford & Co and GHS Holdings LLC
Related party transactions
Fees earned from Eastern and Oriental Express Ltd.				$ 488,000
Great South Pacific Express
Related party transactions
Gross proceeds from divestiture of businesses, including reduction in debt facility on sale of asset	$ 2,362,400
Eastern and Oriental Express Ltd.
Related party transactions
Ownership percentage				25.00%
Fees earned from Eastern and Oriental Express Ltd.				$ 236,000	292,000	362,000
Amounts payable to Belmond				$ 4,886,000	4,872,000
Hotel and rail joint ventures in Peru
Related party transactions
Ownership percentage				50.00%
Fees earned from Eastern and Oriental Express Ltd.				$ 14,734,000	12,503,000	11,515,000
Amounts payable to Belmond				$ 6,907,000	7,285,000
Buzios
Related party transactions
Ownership percentage				50.00%			50.00%
Amounts payable to Belmond				$ 372,000	272,000
Hotel Ritz, Madrid
Related party transactions
Ownership percentage		50.00%	50.00%	50.00%
Fees earned from Eastern and Oriental Express Ltd.				$ 0	328,000	1,111,000
Amounts payable to Belmond				0	0
Interest income				$ 0	$ 301,000	$ 904,000
Gross proceeds from divestiture of businesses, including reduction in debt facility on sale of asset		$ 144,529,000	€ 130,000

Schedule II - Valuation and 123

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 291	$ 425	$ 563
Additions charged to costs and expenses	109	92	47
Additions charged to other accounts	19	(61)	(90)
Deductions	1	(165)	(95)
Balance at end of period	420	291	425
Valuation allowance on deferred tax assets
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	69,928	91,462	110,780
Additions charged to costs and expenses	4,876	16,320	4,573
Additions charged to other accounts	(4,563)	(37,854)	(23,891)
Deductions	0	0	0
Balance at end of period	$ 70,241	$ 69,928	$ 91,462