Accor

M&A Activity • Dec 5, 2019

Press release DECEMBER 5 TH, 2019

Accor to sell a 5% stake in Huazhu for USD451m

Accor announces that it entered into a definitive agreement to sell approximately 5% stake in Huazhu Group Limited (HTHT) for USD451m. Accor will keep an approximately 5% stake in Huazhu and Chaiman and CEO Sebastien Bazin will remain on the Board.

This transaction, which was conducted in full cooperation with Huazhu and its Founder and Chairman Qi Ji, allows Accor to crystallize the value created from the implementation of the partnership between both groups in January 2016. Over the period, the value of Accor's initial investment in Huazhu has been increased by 4.5 times.

Accor and Huazhu will continue to develop their successful partnership and growth dynamic initiated 4 years ago, which has enabled the openings of 200 economy and midscale hotels in China, mainly under the ibis, Novotel and Mercure brands. An additional 250 properties in the pipeline are scheduled to open over the next 3 years.

ABOUT ACCOR

Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in 4,900 hotels, resorts, and residences across 110 countries. With an unrivalled portfolio of brands from luxury to economy, Accor has been providing hospitality savoir-faire for more than 50 years.

Beyond accommodations, Accor enables new ways to live, work, and play with Food & Beverage, nightlife, wellbeing, and coworking brands. To drive business performance, Accor's portfolio of business accelerators amplify hospitality distribution, operations, and experience. Guests have access to one of the world's most attractive hotel loyalty programs—Le Club AccorHotels.

Accor is deeply committed to sustainable value creation, and plays an active role in giving back to planet and community. Planet 21 – Acting Here endeavours to act for positive hospitality, while Accor Solidarity, the endowment fund, empowers disadvantaged groups through professional training and access to employment.

Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook.

Media Relations

Charlotte Thouvard Senior Vice President Group External Communications T. +33 (0)1 45 38 19 14 charlotte.thouvard@accor.com

Investor and Analyst Relations

Sébastien Valentin Chief Communications Officer T. +33 (0)1 45 38 86 25 sebastien.valentin@accor.com Line Crieloue Media Relations Manager T. +33 (0)1 45 38 18 11 line.crieloue@accor.com

Pierre-Loup Etienne Vice President Investor Relations T. +33 (0)1 45 38 47 76 pierre-loup.etienne@accor.com