Notes to the consolidated financial statements
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DEFERRED REVENUE The group’s contract liabilities consist of the customer rewards programmes and are shown as deferred revenue. The group accounts for its hotel customer reward programmes in terms of IFRS 15 Revenue from Contracts with Customers with the liability on the balance sheet allocated to deferred revenue. Deferred revenue is made up as follows: Non-financial instruments Deferred revenue – rooms and food and beverage revenue
The expected timing of the recognition of the deferred revenue is within three years (2019: three years).
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