Paris, October 8, 2002 _. Accor has signed final agreements with German hotel-industry Dorint
AG and its primary shareholder Dr. Herbert Ebertz.
Following a capital increase approved by Dorint AG shareholders at a Shareholders’ Meeting on
Friday August 16, in Hamburg, Accor now holds a 17% interest in the German group.
Under the terms of these agreements, Accor is to buy another 13% interest. As a result, Accor
will own 30% of Dorint AG. From 2008 to 2010 Accor has a possibility to increase its share by
another 25% interest, through a call option exercisable at its own initiative. Accor is expected to
be represented at the Supervisory Board of Dorint.
Furthermore, Corporate bodies of Dorint AG have approved a strategic partnership based on
franchise contracts and commercial agreements.Under these agreements, all Dorint Hotels will
be co-branded as Dorint-Sofitel, Dorint-Novotel and Dorint-Mercure. Sales and Marketing of
Dorint will be integrated into the Accor network. The co-branded hotels will benefit from the
distribution and sales forces of Accor through its Central Reservation System, Internet Web Site
and international recognition of its brands. This will also enable some cost improvements.
Through the agreements Accor will strengthen its position in one of the largest European
Market, extending its Sofitel Network by around twenty properties, and at the same time, Dorint
will benefit from the commercial integration into Accor network while increasing its financial
The implementation of these agreements is subject to the approval of the Competition
Over the past five years, Dorint AG has acquired a leading position in the German midscale and
upscale market by developing three, four and five-star hotels in all of the country’s main cities.
In all, the group operates 93 hotels, of which 77 in Germany. It also has some 20 properties
under construction or in development.
Accor already enjoys the leader position of the German market where the group operates 280
hotels under the different brands Sofitel, Novotel, Mercure, Ibis, Etap and Formule 1.
All over the world, Accor is one of the largest groups in travel, tourism and corporate services,
with two major international activities:
- hotels: more than 3,700 hotels (423,000 rooms) in 90 countries, casinos, travel agencies,
- services to corporate clients and public institutions: each day, 13 million people in 32
countries use a broad range of services (food vouchers, people care and services, incentive,
loyalty programs, events) engineered and managed by Accor.