Accor Pursues Its Development in Asia

PRNewswire PARIS Oct. 21 :
Accor last week opened its first Ibis in the Republic of Korea, the fourth
hotel operated by Accor in partnership with South Korea`s Ambassador
Group. The other three are the Sofitel Ambassador, the Novotel Ambassador
Gangnam and the Novotel Ambassador Doksan.

Located in Daechi-dong in the heart of Seoul`s business district, the new
Ibis has 317 rooms, two meeting rooms, a bar, a restaurant and a full
range of other amenities, including a fitness center and a sauna.

There are still very few economy hotels in South Korea, a situation that
is perceived as hindering the international development of the market for
business conventions and trade shows. With room rates 60% lower than in
nearby hotels, the Ibis Seoul targets both business travelers and
tourists, mainly from South Korea and other Asian countries, who are
looking for high-quality services at affordable prices.

In China, a first Ibis hotel will open at the end of the year in Tianjin,
the country`s fourth-largest city. Offering 154 rooms, the property is
located 120 kilometers south east of Beijing in a high-tech business park
recently built near the city`s industrial district. A large number of
international companies have already set up operations in the park, which
is expected to expand rapidly. Accor is the first international hotel
company to open an economy unit in the area.

Accor is also planning to open Ibis hotels in two other cities in China:
Chengdu in third-quarter 2004 and Qingdao in 2005.

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In addition, the Ibis North Point in Hong Kong is adding 64 new rooms that
will increase total capacity to 247 rooms by second-half 2004. With an
average occupancy rate of 84% over the past quarter and the prospect of
more customers from mainland China, the Hong Kong Ibis should continue to
increase its market share.

These openings represent a new stage in Accor`s development in the Asian
economy hotel segment.

In Asia, where the major international hotel operators have focused on the
upscale segment, Ibis`s unique offer of high-quality services at
affordable prices stands out from the competition. It is also in line with
new regional trends in business and leisure travel, notably:

—The emergence of a domestic customer base in fast-growing countries
like South Korea, China and Indonesia, a country in which Accor already
has eight Ibis hotels.—The steady growth in intra-regional travel.—
The decision by large companies to book employees into less expensive
hotels.

Accor`s expansion in the Asian economy hotel segment is being spearheaded
by the Ibis chain. The brand`s regional deployment is backed by nearly 30
years of experience, with 650 hotels in more than 33 countries.

With 150,000 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: nearly 4,000 hotels (450,000 rooms) in 90 countries, casinos,
travel agencies, and restaurants;
—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.

Further information on Accor is available on Internet at accor.com

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