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During the year ended 31 December 2007, the Group sold three hotels (2006 32 hotels) and two associates (2006 nil), continuing theasset disposal programme commenced in 2003. An additional three hotels were classified as held for sale during the year, whilst onehotel previously classified as held for sale was reclassified as property, plant and equipment. At 31 December 2007, three hotels (2006four hotels and two associates) were classified as held for sale.At 31 December 2006, an impairment loss of £3m was recognised on the remeasurement of a property that was classified as held forsale. The loss, which reduced the carrying amount of the asset to fair value less costs to sell, was recognised in the income statement ingain on disposal of assets. Fair value was determined by an independent property valuation. No impairment losses have been recognisedat 31 December 2007.
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