Finance lease obligations
Finance lease obligations, which relate primarily to the 99-year lease (of which 88 years remain) on the InterContinental Boston hotel, are payable as follows:
| 2017 | 2016 | |||||||||||||||
| Minimum lease payments $m |
Present value of payments $m |
Minimum lease payments $m |
Present value of payments $m |
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Less than one year |
16 | 16 | 17 | 17 | ||||||||||||
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Between one and five years |
67 | 49 | 64 | 48 | ||||||||||||
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More than five years |
3,234 | 166 | 3,252 | 162 | ||||||||||||
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| 3,317 | 231 | 3,333 | 227 | |||||||||||||
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Less: amount representing finance charges |
(3,086 | ) | — | (3,106 | ) | — | ||||||||||
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| 231 | 231 | 227 | 227 | |||||||||||||
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