Accor and Al Mohammadia Almotahda for Real Estate Investment Company are signing of a management contract to develop a multi-segment property in Jeddah, which will include an ibis hotel and an Adagio hotel, which are due to open in 2014.

Commenting on this signature, Christophe Landais, Managing Director Accor Middle East, said: “We are proud to progress our partnership with Al Mohamadia Almotahda, further expanding the
Accor network in Jeddah which has a huge potential for growth in the travel and tourism sectors. It is a natural next step for us as together we have made our first stride with the ibis brand in the
Kingdom with ibis Riyadh.”

ibis Jeddah will be the third ibis hotel in Saudi Arabia, after ibis Riyadh and Ibis Yanbu, both to open in 2012. The hotel will feature 180 well-equipped rooms and will offer both business and
leisure travelers quality accommodation and service at competitive prices.

“We are also pleased to announce the launch of the brand Adagio City Aparthotel in the Kingdom, Adagio being the latest addition to Accor’s brand portfolio. Adagio Jeddah will follow our regional
strategy of developing the brand in key business cities, with an Adagio hotel to open in Abu Dhabi in 2012. Designed to be a new network of urban residences, the Adagio chain offers mid-market
apartment with à la carte services for “just like at home” stays in major destinations,” Landais
added.

The Adagio concept meets the very real consumer need for a city stay: an easily accessible “pied à terre”, offering home comfort and the chance for guests to enjoy their stay with total freedom and
independence. Adagio Jeddah will have 80 serviced apartments targeting mainly the long-stay customers as well as the local leisure clientele.

Khalid Al Turki, Executive Manager, Al Mohammadia Almotahda, said: “We are delighted to partner once again with Accor for these two new projects. ibis is one of the most recognised and respected
brands in the economy lodging segment and Adagio is an exciting new concept. With Accor strengthening its leading position in the region, we look forward to deepening our partnership with
them and delivering together internationally-established hotel brands in our developments.”

The two properties will be strategically located within a fast growing business area on Malek Road, a central artery of Jeddah. Both will offer direct and easy connection to many points of interest in
the city, including the Jeddah Corniche and the airport. Facilities in this cluster of hotels will include man all-day-dining restaurant, a lobby lounge café, meeting rooms, a fitness center and a swimming
pool.

The Saudi market is a key and strategic focus in Accor’s regional development strategy, as demonstrated by the five upcoming hotels currently under development (Novotel Dammam
Business Park, ibis Riyadh Olaya Street, ibis Yanbu, ibis Jeddah and Adagio Jeddah). At horizon 2014, approximately 15 Accor properties will be operational in the Kingdom.