Accor — Capital/Financing Update 2017

Jan 18, 2017

Press Release Paris, January 18, 2017

Successful launch of a bond offering

EUR 600 million, 7 year maturity, annual coupon of 1.25%

AccorHotels today successfully set the terms of a 7 year bond issue for an amount of EUR 600 million with an annual coupon of 1.25%.

AccorHotels took advantage of the favorable conditions on the credit market to optimize its average cost of funding and lengthen the average maturity of its debt.

The offering was widely over-subscribed, which reflects the high quality of the AccorHotels' signature, and the investors' confidence.

The transaction was completed within a short time, and at a very favorable conditions. Based on these elements, the bond was finally raised to EUR 600 million.

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

BNP Paribas acted as Global Coordinator and bookrunner for this bond issue.

CM-CIC Market Solutions, Commerzbank, Crédit Agricole CIB, MUFG, Natixis and Société Générale Corporate & Investment Banking acted as joint Lead Managers and bookrunners.

ABOUT ACCORHOTELS

AccorHotels is a world-leading travel & lifestyle group and digital innovator offering unique experiences in more than 4,000 hotels, resorts and residences, as well as in over 2,500 of the finest private homes around the globe. Benefiting from dual expertise as an investor and operator through its HotelServices and HotelInvest divisions, AccorHotels operates in 95 countries.

Its portfolio comprises internationally acclaimed luxury brands including Raffles, Fairmont, Sofitel Legend, SO Sofitel, Sofitel, onefinestay, MGallery by Sofitel, Pullman and Swissôtel; as well as the popular midscale and boutique brands of Novotel, Mercure, Mama Shelter and Adagio; the indemand economy brands including ibis, ibis Styles, ibis budget and the regional brands Grand Mercure, The Sebel and hotelF1. With an unmatched collection of brands and a rich history spanning close to five decades, AccorHotels, along with its global team of more than 240,000 dedicated women and men, has a purposeful and heartfelt mission: to make every guest Feel Welcome. Guests enjoy access to one of the world's most rewarding hotel loyalty programs – Le Club AccorHotels.

AccorHotels is active in its local communities and committed to sustainable development and solidarity through PLANET 21, a comprehensive program that brings together employees, guests and partners to drive sustainable growth.

Accor SA is publicly listed with shares trading on the Euronext Paris exchange (ISIN code: FR0000120404) and the OTC marketplace (Code: ACRFY) in the United States.

For more information and reservations visit accorhotels.group or accorhotels.com. Or become a fan and follow us on Twitter and Facebook.

Media Relations

Carina Alfonso Martin Delphine Dumonceau Vice President Media Relations Worldwide Corporate PR Manager Phone: +33 (0)1 45 38 84 84 Phone: +33 (0)1 45 38 84 95 carina.alfonsomartin@accor.com delphine.dumonceau@accor.com

Investor and Analyst Relations

Sébastien Valentin Senior Vice President, Investor Relations and Financial Communication Phone: +33 (0)1 45 38 86 25 sebastien.valentin@accor.com