Accor Raises Stake in Go Voyages to 60%

Paris, April 3, 2002. _ Accor today holds a 60% stake in Go Voyages, France’s
leading specialty operator in scheduled and chartered flights and the
development of online booking engines, after acquiring 21.5% of the company’s
Accor, which has held a 38.5% stake since April 2000, has thus become
Go Voyages’ majority shareholder. In addition, the Group has given the
management team, which remains in charge of the company, a promise to
purchase the remaining shares, whose price will be determined depending on
the results of future fiscal years.
Go Voyages is today in France, thanks to the deployment of innovative IT tools,
one of the most active players in the distribution of business travel and tourist
services, in particular over the Internet. For example, Go Voyages has developed
some of the market’s most efficient online booking software and travel-related
search engines. This technological expertise enables the company to offer more
than 500 web partners access to its pricing databases through B to B to C
Since early 2002, Go Voyages has offered an “airfare + hotel” package that
combines the search for an airplane seat and a hotel room in real time.
Go Voyages has set itself apart with a new generation online booking system, by
combining e-tourism’s two key lists (airline seats and hotel rooms). This
initiative is in line with Accor’s sales and distribution strategy, in particular in
the tourism sector, and strengthens the two partners’ Internet projects.
Go Voyages is one most profitable companies in its industry. In fiscal 2001
(ended October 31), it reported sales of €126 million, up 57%, and generated
pretax income before exceptional items of €5.73 million, up 82%. Growth in
sales has averaged 43% since November 2001.
Go Voyages develops and distributes through a broad range of channels (travel
agencies - web sites - call centers - tour operators) travel packages at the best
available price, on scheduled and chartered flights. In 2001, Go Voyages
organized flights for 368,000 passengers; in 2002, the company expects this
number to rise to 420,000, reaching over 1,000 destinations. Go Voyages also
designs and supplies booking engines that distribute web-based tourism
products to more than 500 affiliated websites.
With 147,000 associates in 140 countries, Accor is the European leader and one
of the world`s largest groups in travel, tourism and corporate services, with two
major international activities: - hotels: 3,700 hotels (415,000 rooms) in 90 countries, casinos, travel
agencies, and restaurants; - services to corporate clients and public institutions: each day, 13 million
people in 31 countries use a broad range of services (food vouchers, people
care and services, incentive, loyalty programs, events) engineered and
managed by Accor.