Accor — Capital/Financing Update 2012

Jun 11, 2012

Press Release Paris, 11 June 2012

SUCCESSFUL LAUNCH OF A BOND OFFERING EUR 600 million, 5 year maturity, annual coupon of 2.875%

Accor today set the terms of a 5 year bond issue for an amount of EUR 600 million with an annual coupon of 2.875%.

Accor took advantage of favorable conditions on the credit market: the order book totaled close to EUR1.3bn. The transaction could therefore be completed within a short time, at a favorable price, and with a higher issuance amount than initially planned. This bond issue enables Accor to both lengthen the average maturity of its debt and optimize its average cost of funding.

Accor's long-term senior debt is rated BBB- by Standard & Poor's and Fitch Ratings.

Société Générale Corporate & Investment Banking acted as Global Coordinator and bookrunner for this bond issue; Crédit Agricole CIB, HSBC, Natixis and UBS Investment Bank acted as joint lead managers and bookrunners.

Accor, the world's leading hotel operator and market leader in Europe, is present in 92 countries with more than 4,400 hotels and 530,000 rooms. Accor's broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons/ibis Styles, Etap Hotel/Formule 1/ibis budget, hotelF1 and Motel 6 provide an extensive offer from luxury to budget. With more than 180,000 employees* in Accor brand hotels worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.

*Including 145,000 in owned, leased and managed hotels

Agnès Caradec Senior Vice President Communications & External Relations Phone : +33 1 45 38 87 52

Elodie Woillez Phone: +33 1 45 38 87 08

MEDIA RELATIONS ININVESTOR RELATIONS CONTACTS Sébastien Valentin Senior Vice President Financial Communications & Investor Relations Phone: +33 1 45 38 86 25