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Property, plant and equipment | 12 Months Ended
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Dec. 31, 2024
Disclosure [Abstract] |
Property, plant and equipment | 12. Property, plant and equipment
|  |  |  | Land and buildings $m |  |  | Fixtures, fittings and equipment $m |  |  | Total $m |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2023 |  |  |  |  | 112 |  |  |  | 292 |  |  |  | 404 |
Additions |  |  |  |  | 1 |  |  |  | 20 |  |  |  | 21 |
Fully depreciated assets written off |  |  |  |  | – |  |  |  | (15 | ) |  |  | (15 | )
Disposals |  |  |  |  | (2 | ) |  |  | (3 | ) |  |  | (5 | )
Exchange and other adjustments |  |  |  |  | – |  |  |  | 6 |  |  |  | 6 |
At 31 December 2023 |  |  |  |  | 111 |  |  |  | 300 |  |  |  | 411 |
Additions |  |  |  |  | – |  |  |  | 27 |  |  |  | 27 |
Fully depreciated assets written off |  |  |  |  | (3 | ) |  |  | (27 | ) |  |  | (30 | )
Disposals |  |  |  |  | (8 | ) |  |  | (8 | ) |  |  | (16 | )
Exchange and other adjustments |  |  |  |  | (1 | ) |  |  | (4 | ) |  |  | (5 | )
At 31 December 2024 |  |  |  |  | 99 |  |  |  | 288 |  |  |  | 387 |
Depreciation and impairment |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 1 January 2023 |  |  |  |  | (51 | ) |  |  | (196 | ) |  |  | (247 | )
Provided |  |  |  |  | (6 | ) |  |  | (18 | ) |  |  | (24 | )
System Fund expense |  |  |  |  | – |  |  |  | (4 | ) |  |  | (4 | )
Fully depreciated assets written off |  |  |  |  | – |  |  |  | 15 |  |  |  | 15 |
Disposals |  |  |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
Exchange and other adjustments |  |  |  |  | 1 |  |  |  | (4 | ) |  |  | (3 | )
At 31 December 2023 |  |  |  |  | (54 | ) |  |  | (204 | ) |  |  | (258 | )
Provided |  |  |  |  | (3 | ) |  |  | (21 | ) |  |  | (24 | )
System Fund expense |  |  |  |  | – |  |  |  | (4 | ) |  |  | (4 | )
Impairment reversal |  |  |  |  | – |  |  |  | 3 |  |  |  | 3 |
Fully depreciated assets written off |  |  |  |  | 3 |  |  |  | 27 |  |  |  | 30 |
Disposals |  |  |  |  | – |  |  |  | 8 |  |  |  | 8 |
Exchange and other adjustments |  |  |  |  | 1 |  |  |  | 3 |  |  |  | 4 |
At 31 December 2024 |  |  |  |  | (53 | ) |  |  | (188 | ) |  |  | (241 | )
Net book value |  |  |  |  |  |  |  |  |  |  |  |  |  |
At 31 December 2024 |  |  |  |  | 46 |  |  |  | 100 |  |  |  | 146 |
At 31 December 2023 |  |  |  |  | 57 |  |  |  | 96 |  |  |  | 153 |
At 1 January 2023 |  |  |  |  | 61 |  |  |  | 96 |  |  |  | 157 |
The Group’s property, plant and equipment mainly comprises buildings and leasehold improvements on 17 hotels (2023: 17 hotels), but also offices and computer hardware, throughout the world. Assets with a net book value of $99m (2023: $107m) are located in the United States. Impairment and impairment reversals 2024 impairment reversal An impairment reversal of $3m was recognised in relation to one hotel in the UK portfolio ( EMEAA region) as a result of continued strong performance. The original impairment was recorded in 2020 as a result of the pandemic and was treated as exceptional; the reversal is also classified as exceptional for consistency. 2022 impairment An impairment charge of $10m was recognised on property, plant and equipment relating to one hotel in the EMEAA region. A further $2m impairment of right-of-use assets was recognised in relation to the same hotel. The charge arose, and was classed as exceptional, due to recent cost inflation which impacted operating costs but also the projected variable rent payments. 2022 impairment reversal A n impairment reversal of $3m w as recognised in relation to the UK portfolio (EMEAA region) and arose as a result of the renegotiation of contractual agreements which enhanced the cash-generating potential of those hotels.

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