Accor — Capital/Financing Update 2014

Sep 23, 2014

Press release 23 September 2014

Accor increases its 7-year bond issue by 150 million euros

Accor issued today with success a new tranche of 150 million euros through an increase of its original bond maturing February 2021. Following this transaction, the new nominal of the bonds will increase to 900 million euros.

This new issue has a yield of 1.728%, the lowest level ever achieved by Accor.

This operation enables Accor to both lengthen the average maturity of its debt and optimize its cost of funding.

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

Crédit Agricole CIB, Natixis and The Royal Bank of Scotland plc acted as joint lead managers and bookrunners.

Accor, the world's leading hotel operator, offers its guests and partners the dual expertise of a hotel operator and brand franchisor (HotelServices) and a hotel owner and investor (HotelInvest) with the objective of ensuring lasting growth and harmonious development for the benefit of the greater number.

With more than 3,600 hotels and 470,000 rooms, Accor welcomes business and leisure travelers in 92 countries across all hotel segments:: luxury-upscale with Sofitel, Pullman, MGallery, and Grand Mercure, midscale with Novotel, Suite Novotel, Mercure and Adagio and economy with ibis, ibis Styles, ibis budget and hotelF1. The Group boasts a powerful digital ecosystem, notably its booking portal accorhotels.com, its brand websites and its loyalty program Le Club Accorhotels.

As the world's top hospitality school, Accor is committed to developing the talents of its 170,000 employees in Accor brand hotels. They are the daily ambassadors of the culture of service and innovation that has driven the Group for over 45 years.

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Charlotte Bourgeois-Cleary Vice President Media Relations Phone: +33 (0)1 45 38 84 84

Delphine Dumonceau Media Relations Phone: +33 (0)1 45 38 84 95

MEDIA RELATIONS INVESTOR AND ANALYST RELATIONS

Sébastien Valentin Senior Vice President Investor Relations and Financial Communication Phone: +33 (0)1 45 38 86 25

Marie Niel Investor Relations Phone: +33 (0)1 45 38 86 94