2014 Registration Document and Annual Financial Report - page 15

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Corporate Presentation
Milestones
1997
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Accor changes its corporate governance system. Paul Dubrule
and Gérard Pélisson become Co-Chairmen of the Supervisory
Board, while Jean-Marc Espalioux is appointed Chairman of the
Management Board.
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Carlson andWagonlitTravel merge to formCarlsonWagonlitTravel,
owned equally by Accor and Carlson Companies.
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Public offer made for all outstanding shares of Accor Asia Pacific
Corp.
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Acquisition of a majority interest in SPIC, renamed Accor Casinos.
1998
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Introduction of the Corporate Card in partnership with Air France,
American Express and Crédit Lyonnais.
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Development of new partnerships, with Air France, French
National Railways SNCF, American Express, Crédit Lyonnais,
Danone, France Telecom and others.
1999
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The hotel portfolio grows by 22% with 639 new properties, led
by the acquisition of Red Roof Inn in the United States.
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Deployment of the Internet strategy.
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The 50% interest in Europcar International is sold.
2000
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Launch of accorhotels.com.
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Brand logos are redesigned to highlight the Accor name, raising
international visibility and public awareness.
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38.5% interest in Go Voyages acquired.
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80% interest in Courtepaille sold.
2001
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Broader presence in the Chinese hotel market in partnership with
Zenith Hotel International and Beijing Tourism Group.
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Suitehotel launched in Europe.
2002
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Acquisition of a 30% interest in German hotel group Dorint AG
(87 hotels, 15,257 rooms).
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Accor Casinos is now equally-owned with the Colony Capital
investment fund, with Accor continuing to manage the company.
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Stake in Go Voyages is raised to 60%.
2003
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Stake in Orbis is raised to 35.58% by purchasing an 8.41%
interest held by minority shareholders.
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Stake in Go Voyages raised to 70% following the acquisition of
an additional 10% interest.
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All the Dorint hotels are cobranded as Dorint Sofitel, Dorint
Novotel and Dorint Mercure.
2004
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Accor, the Barrière Desseigne family and Colony Capital set up
Groupe Lucien Barrière SAS to hold the casino and hotel assets
of Société Hôtelière de la Chaîne Lucien Barrière, Société des
Hôtels et Casino de Deauville, Accor Casinos and their respective
subsidiaries. Accor owns 34% of the new combination.
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Acquisition of a 28.9% interest in Club Méditerranée.
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Stake in Go Voyages is raised from 70% to 100%.
2005
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Colony Capital invests €1 billion in Accor in exchange for
€500 million in ORA equity notes and €500 million in convertible
bonds, enabling Accor to strengthen its equity base and step up
the pace of expansion.
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Accor implements a new property management strategy and
signs an initial agreement with French real estate company
Foncière des Murs to transform fixed-rent leases on 128 hotels
in France into variable leases.
2006
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Accor changes its corporate governance system froma Supervisory
Board and Management Board to a Board of Directors, with Serge
Weinberg as Chairman and Gilles Pélisson as Chief Executive
Officer.
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As part of the non-strategic asset disposal process, Accor sells
its 1.42% stake in Compass Group PLC and its 50% interest in
CarlsonWagonlitTravel, as well as most of its investment in Club
Méditerranée (22.9% out of a total 28.9% stake).
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As part of the on-going shift in the Hotels business model,
Accor carries out a second transaction with Foncière des Murs,
involving 59 hotels and five seawater spas in France, as well 12
hotels in Belgium. Accor will continue to operate the hotels under
12-year leases with variable rents and no guaranteed minimum,
renewable four times per hotel at Accor’s option.
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Accor sells six US Sofitel hotels to a joint venture comprised of
GEM Realty Capital,Whitehall Street Global Real Estate Limited
Partnership 2005 and Accor. Accor remains a 25% shareholder
in the joint venture and continues to manage the hotels under
the Sofitel brand through a 25-year contract.
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Compagnie desWagons-Lits wins a tender from French National
Railways SNCF for onboard food services on theTGV Est Européen
high-speed train line.
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Registration Document 2014
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