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Accor Acquires the South American Hotel Portfolio
of Grupo Posadas for $275 Million

Transaction Includes 15 Hotels (2,600 rooms) and a
Secured Pipeline of 14 Hotels (2,000 rooms)

July 16, 2012 - The acquisition of this hotel portolio of Grupo Posadas, a Mexican hotel company, is fully in line with Accor's ambitious development strategy launched last September, which includes notably Accor's ability to reinforce its leadership in emerging markets, through selective acquisitions. That follows the Mirvac acquisition in Australia and New Zealand, closed on May 22nd.

The total amount paid by Accor for this acquisition is $275 million. The transaction includes 15 hotels, of which 4 owned hotels, 4 variable leased hotels and 7 hotels under Management contract. These hotels are located in key cities as São Paulo and Rio de Janeiro in Brazil, Buenos Aires in Argentina and Santiago in Chile. 11 of these 15 hotels are located in Brazil, main regional economic force. The acquisition of this portfolio will reinforce the brands operated in the region: Sofitel, Pullman, Novotel and Mercure. The transaction also includes a secured pipeline of 14 hotels under Management contract and the acquisition of two brands operated by Grupo Posadas in South America: Ceasar Park and Ceasar Business.

With this transaction, the Group's network in Brazil will reach 164 hotels and 26,200 rooms, covering the spectrum of hotel segments and resulting in a reinforced presence in the Up & Midscale segment, just before two major sports' events: the World Football Cup in 2014 and the Summer Olympic Games in 2016. In total, Accor's portfolio in South America will consist of more than 200 hotels and about 34,000 rooms and will so strengthen its leadership on the continent.

"With its strong financial position and now a structurally generating cash model, the Accor Group, through this acquisition, records another success and confirms its ambitious expansion plan ", said Denis Hennequin, Chairman and Chief Executive Officer. "Accor strives towards its ambitions, with expansion of its network, revitalization of the brand portfolio, optimization of the asset management policy and recognized operational excellence. This operation is in line with our strategic goal: become the global reference in the hotel industry".

Completion of the deal should occur by the end of 2012. The real estate component of this hotel portfolio will be managed according to Accor's asset management policy.

"This project is inspiring for all Accor and Posadas teams", said Roland Bonadona, Chief Operating Officer Latin America. « This acquisition gathers high quality hotels, including a true flagship with an exceptional luxury hotel on the Ipanema beach. Accor consolidates its presence in the region, with more than 200 hotels.

This is a strategic milestone for the Group, as it enables us to optimize our network, our distribution channels, and our support services platforms. We are very ahead of schedule on our expansion plan. Within the next three years, Accor and Posadas pipelines combined will allow us to operate more than 300 hotels".

About Grupo Posadas
Grupo Posadas, with over 43 years in the hotel marketplace, operates 102 hotels and more than 17.600 rooms in 50 beach and city destinations in Mexico. The Group has been listed on the Mexican Stock Exchange since 1992.

About Accor
Accor, the world's leading hotel operator and market leader in Europe, is present in 90 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 145,000 employees worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.

Immeuble Odyssey, 110 avenue de France
Paris , 75013
Phone: +33 (0)1 45 38 86 00
Fax: +33 (0)1 45 38 85 95

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Also See: Accor's Mercure Brand Debuts in Russia with the Opening of the 109-room Mercure Arbat Moscow; Owned by ARD and Operated by Accor / June 2012

Accor Enters Agreement to Sell its United States Economy Hotels Division, Motel 6 and Studio 6, to Blackstone Real Estate Partners for $1.9 billion / May 2012

Isabelle Birem Joins Accor as Senior Vice President Direct Sales / April 2012

Accor Tailors Mercure for China with the Launch of ‘Mei Jue’ Brand; A Tailor-Made Grand Mercure for the Chinese Upscale Market / February 2012

Accor's Pullman Hotels Expands in Europe with the Pullman Munich in Germany and the Pullman Eindhoven Cocagne in The Netherlands / February 2012

Accor Opens its 150th hotel in Brazil with the 166-room Novotel Porto Alegre Aeroporto; Aiming at a Network of 250 hotels in Brazil by 2015 / February 2012

Accor Completes Another Record Year of Expansion in Asia Pacific; Adds 67 Hotels in the Region and Acquires Mirvac Hotels & Resorts / January 2012

Chef Jérôme Chautard Appointed as Executive Sous Chef for VIE Hotel Bangkok and its VIE Wine and Grill Restaurant in Thailand / January 2012

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Accor's McGallery Adds Two Resorts in Thailand; 69-room Veranda High Resort Chiang Mai and 118-room Veranda Resort & Spa Hau Hin-Cha Am / March 2011

Accor Appoints its First Fiji-born Hotel Manager, Jack Work, as Hotel Manager of the Mercure Nadi in Fiji / March 2011

Accor Terminates Gilles Pélisson as CEO, Denis Hennequin to Assume Position January 2011 / November 2010

Accor Plans to Double the Number of Hotels in Latin America to 300 Following Separation of the Hospitality and Service Units / July 2010

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The Que Huong – Liberty Group and Accor Building a 350 room Novotel Hotel on the Site of the Metropole Hotel in Ho Chi Minh City, Vietnam / November 2009

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