BANGKOK, May 15, 2001 � Accor has entered into a partnership with Century International Hotels � one of Asia�s most successful and experienced hotel management corporations � following the announcement of a joint venture agreement between the two companies.

Century currently operates 20 hotels and resorts (5,800 rooms) in six countries � Malaysia, Indonesia, the Philippines, China and Hong Kong SAR, Vietnam and Singapore.

All Century hotels are of the three-star or four-star standard and are located in Asia�s key business and leisure centres.

Former Hyatt executive, Brian Deeson, founded the company in 1989, operating international standard hotels and resorts in Asia from a corporate base in Hong Kong. Mr Deeson has more than 30 years of hospitality experience in both marketing and management with international hotel chains, establishing the Century brand as a household name in Asia�s mid-market hotel category.

Under his direction, Century has become a leader in providing value-for-money accommodation in key gateway cities and resorts around Asia.  For this the company was recognised by Hotels Magazine as one of the top 10 fastest growing hotel management companies in the world.

Accor has also enjoyed considerable success in expanding its presence in Asia, with a current portfolio of 70 hotels (16,477 rooms) in 12 countries.

Century�s President and Chief Executive Officer, Brian Deeson, welcomed the agreement with Accor: �In today�s hotel sector, it is no secret that regional companies are looking for international affiliation to give them a competitive advantage. Accor�s reservation and distribution system places us in their high-profile global network, which is a very good fit for the Century brand.
 

"We are delighted that the owners of the Century Hong Kong Hotel have agreed to the co-branding of the hotel to the Novotel Century Hong Kong, which is planned from 1 November, 2001. This will see the hotel become a member of one of the world's most renowned hotel networks. We will then talk with the owners of our other hotels around the region about the possibility of re-flagging under one of the Accor brands,� Mr Deeson, added. The Century Hong Kong is one of the city's leading four-star hotels. Located in the popular commercial district of Wanchai, the 516-room

Century Hong Kong Hotel 238 Jaffe Road,  Wanchai, Hong Kong

Commenting on the agreement, Accor�s Deputy Chairman-Asia Pacific, Jochen Dobel, said that it was an important milestone for both companies, as it complemented the traditional strengths of both Accor and Century.

�Century was founded on the principle of providing excellent accommodation for a fair price,� Mr Dobel, said. �This agreement with Century will further strengthen our network in Asia, making it possible to grow our brands at an accelerated rate. Their existing hotels complement Accor�s, especially with Century�s high-profile presence in important gateway cities like Hong Kong, Kuala Lumpur and Manila. The introduction of the Novotel brand in Hong Kong is particularly significant, as this will be the first Accor hotel in what is one of the world�s most important business and tourist centres.

�This agreement with Century follows a similar joint-venture agreement with Zenith Hotels International, another prominent group in the region.

Together, the Century and Zenith agreements reflect Accor�s confidence in the future of the Asian hotel sector and highlight our policy of aligning with partners who have outstanding experience operating in Asia.�

With 145,000 associates in 140 countries, Accor is the European leader and one of the world's largest groups in travel, tourism and corporate services.