Annual Report 2011 - Mandarin Oriental Hotel Group

70 Mandarin Oriental International Limited
Notes to the Financial Statements Continued
26 Financial guarantee
2011 2010
US$m US$m
Guarantee in respect of facilities made available to an associate 20.4 20.6
The guarantee in respect of facilities made available to an associate is stated at its contracted amount. The Directors are
of the opinion that it is not probable that this guarantee will be called upon.
27 Commitments
2011 2010
US$m US$m
Capital commitments:
Authorized not contracted 8.9 14.1
Contracted not provided 27.0 37.7
35.9 51.8
Operating lease commitments:
Total commitments under operating leases
– due within one year 20.7 14.3
– due between one and two years 20.9 20.3
– due between two and three years 20.7 20.7
– due between three and four years 20.1 20.6
– due between four and five years 19.9 19.9
– due beyond five years 375.2 378.1
477.5 473.9
No future sublease payments are receivable relating to the above operating leases (2010: nil).
Operating lease commitments principally include payments in respect of the Group’s hotel in Tokyo and Paris.
In addition, the Group has operating lease commitments with rentals determined in relation to sales. It is not possible to
quantify accurately future rentals payable under such leases.