The cash and cash equivalents (balance and deposits) were freely available to the Fund as at 31 December 2016.

For 2016, before appropriation of result

The other payables relate to invoices yet to be received for maintenance of and investments in the portfolio.

Basic earnings per share are calculated by dividing the net profit attributable to shareholders by the weighted average number of ordinary shares outstanding during the year.

In 2016, € 9.4 million (2015: € 9.6 million) was paid as dividend.

As at 31 December 2016, the Fund’s total future commitments amounted to € 57.7 million (2015: € 20.1 million).

The Hotel Fund and members of the Supervisory Board and Board of Directors of Bouwinvest Real Estate Investment Management B.V. (Bouwinvest) and the other entities under mangement by Bouwinvest, qualify as related parties of the Fund.

Bouwinvest is the manager and the Statutory Director of the Fund. The management fee paid for the year 2015 amounted to € 0.8 million (2015: € 0.7 million).

The table below shows the fees charged over the year 2016 by Deloitte Accountants B.V. and the Deloitte Network in respect of activities for the Hotel Fund.

The Fund has no significant subsequent events that need to be disclosed.