PARIS, April 19 /PRNewswire-FirstCall/ -- Accor's (OTC:ACRFF) consolidated revenue rose 8.9% to EUR1,887 million in the first three months of 2007. At constant scope of consolidation and exchange rates, the like-for-like increase was 7.6%. This very good start to 2007 confirms the fourth-quarter 2006 growth trend. The Group's two businesses are benefiting from a favorable business environment, with the Services business enjoying structural growth in demand and the Hotel business lifted by an upturn in the European hospitality industry cycle. (in EUR millions) 2006 2007 % change % change Adjusted(1) as reported like-for-like(2) Hotels 1,234 1,346 +9.1% +7.2% Upscale and Midscale 679 775 +14.2% +8.5% Economy 323 355 +9.9% +8.0% Economy US 232 216 -6.8% +2.0% Services 179 207 +15.4% +14.1% Other Businesses 320 334 +4.3% +5.7% Total 1,733 1,887 +8.9% +7.6% (1) In accordance with IFRS, all data reported in 2006 have been adjusted to reflect the disposal of Carlson Wagonlit Travel. (2) At constant scope of consolidation and exchange rates. Services Revenue from the Services business increased by 15.4% as reported and 14.1% like-for-like for the first quarter. In Europe, revenue rose by 16.0% like-for-like. France reported like-for-like revenue growth of 19.8%, led by extensions to the product range, such as gift vouchers (excluding Kadeos) and the CESU services voucher, whose revenue ramped up with issue volume doubling over the period. The other European countries also performed well, with overall revenue growth of 13.7% like-for-like. Latin America's 10.7% like-for-like growth was driven by solid gains in Argentina (34.8%), Venezuela (28.2%) and Mexico (20.6%). In Brazil, however, revenue contracted by a slight 0.8% like-for-like, reflecting a more difficult competitive environment. In line with the Group's medium-term objectives, acquisitions accounted for 4.8% of first-quarter revenue growth. In particular, the acquisition of the Kadeos gift vouchers and cards business in France added 2.5%. The currency effect was a negative 3.1%, mainly due to the appreciation of the euro against Latin American currencies. Hotels In the first quarter, Hotel revenue rose by 9.1% as reported. The 7.2% like-for-like increase confirmed the fourth-quarter 2006 upturn in the European hospitality industry cycle. Growth was led by increases in both the average room rate and the occupancy rate. With 70% of its hotel revenue generated in Europe, Accor is very well positioned to take advantage of this upturn. Business expansion represented 9.6% of revenue growth, with the January 2007 integration of 52 Dorint hotels in Germany accounting for 6.2% of the increase and the impact of the opening of 6,500 rooms during the period for 3.4%. As part of the Group's real estate management strategy, eight Sofitel in the US were divested under sale-and-management-back agreements, while other hotels were sold either outright or under sale-and-franchise-back agreements. These disposals reduced revenue for the period by 5.5%. The currency effect was a negative 2.1%, mainly due to the appreciation of the euro against US dollar. Upscale and Midscale Hotels First-quarter revenue in the Upscale and Midscale segment increased 8.5% like-for-like. Revenue rose 7.9% like-for-like in France and 8.8% in the rest of Europe, with gains of 9.7% in the United Kingdom, 7.8% in Germany and 13.5% in the Benelux countries. Economy Hotels (outside the United States) In the Economy Hotel segment, revenue rose by 8.0% like-for-like. The acceleration in like-for-like growth was led by solid increases of 14.3% in the United Kingdom and 14.9% in the Benelux countries, as well as by sustained growth of 4.9% in France and 5.1% in Germany. US Economy Hotels At 2.0%, like-for-like revenue growth in the US Economy Hotel segment was again weighed down by unfavorable prior-year comparatives because of the additional business generated by hurricanes in early 2006. Revenue rose 1.8% at Motel 6 and 2.6% at Red Roof Inn. Accor, the European leader in hotels and tourism, and a global leader in corporate services, operates in nearly 100 countries with 170,000 employees. It offers to its individual and corporate clients 40 years of expertise in its two core businesses: - Hotels, with the Sofitel, Novotel, Mercure, Suitehotel, Ibis, All Seasons, Red Roof Inn, Etap Hotel, Formule 1 and Motel 6 brands: over 4,100 hotels and 486,000 rooms in 90 countries, as well as strategically related activities, such as Lenotre ; - Services to corporate clients and public institutions: 23 million people in 35 countries benefit from Accor Services products - meal and food vouchers, people care, incentive and loyalty programs. Quarter 1 Quarter 1 In Euros thousand 2006 2007 Change Change Adjusted (1) Reported % L/L % (2) HOTELS Upscale and Midscale 678,568 774,932 14.2% 8.5% Economy 323,411 355,471 9.9% 8.0% Economy US 231,601 215,941 -6.8% 2.0% Total HOTELS 1,233,580 1,346,344 9.1% 7.2% SERVICES 179,360 206,984 15.4% 14.1% Other Businesses Casinos 76,980 78,172 1.5% 3.5% Restauration 141,609 151,766 7.2% 9.1% On-board train 59,343 59,704 0.6% -2.3% services Other 42,338 44,467 5.0% 9.1% Total other businesses 320,270 334,109 4.3% 5.7% Total 1,733,210 1,887,437 8.9% 7.6% (1) In accordance with IFRS, all data reported in 2006 have been adjusted to reflect the disposal of Carlson Wagonlit Travel. (2) Based on constant scope of consolidation and exchange rates. HOTELS : RevPAR by Occupancy Rate Average room rate segment at March-end Subsidiaries Subsidiaries 2007 (YTD) (reported) (reported) (in %) (chg in pts) (chg in %) Upscale and Midscale 60.0% +3.2 102 +5.5% Europe (in EUR) Economy Europe 66.6% +1.6 54 +5.7% (in EUR) Economy US (in $) 61.0% -0.7 47 +4.0% RevPAR HOTELS : Subsidiaries Subsidiaries Subsidiaries RevPAR by (reported) (like-for-like(1) & managed segment (chg in %) (reported) at March-end 2007 (YTD) Upscale and 61 +11.6% +10.6% +13.6% Midscale Europe (in EUR) Economy 36 +8.2% +7.3% +8.5% Europe (in EUR) Economy 28 +2.8% +2.2% +2.8% US (in $) UPSCALE AND Number Occupancy Average room MIDSCALE HOTELS of Rate rate RevPAR by rooms Subsidiaries Subsidiaries country at (reported) (reported) March-end 2007 (YTD) (in local (in %) (chg in pts) (chg currency) in %) France 29665 58.9% +3.7 108 +3.8% Germany 21288 61.3% +1.5 90 +18.4% Netherlands 4372 59.9% +7.3 112 +8.7% Belgium 2232 61.3% +3.7 107 +4.0% Spain 2259 60.5% +8.7 105 +4.0% Italy 2934 54.9% -3.6 108 +0.8% UK (in GBP) 5352 74.3% +3.2 84 +6.8% USA (in $) 601 86.9% +18.1 181 +0.6% UPSCALE AND RevPAR MIDSCALE HOTELS RevPAR by Subsidiaries Subsidiaries Subsidiaries country at (reported) & managed March-end 2007 (YTD) (in local (chg in %) (like-for-like(1) (reported) currency) France 64 +10.7% +9.7% +11.9% Germany 55 +21.3% +13.5% +15.0% Netherlands 67 +23.9% +21.9% +20.2% Belgium 66 +10.7% +10.7% +14.1% Spain 64 +21.5% +21.5% +21.7% Italy 59 -5.4% -4.6% -5.4% UK (in GBP) 62 +11.6% +9.3% +10.4% USA (in $) 157 +27.0% +26.4% +24.1% ECONOMY HOTELS Number Occupancy Average room of Rate rate RevPAR by rooms Subsidiaries Subsidiaries country at (reported) (reported) March-end 2007 (YTD) (in local (in %) (chg in pts) (chg currency) in %) France 43898 66.6% +0.4 47 +4.5% Germany 15196 66.0% +0.7 57 +8.0% Netherlands 2215 72.4% +9.6 71 +6.8% Belgium 2577 67.0% +1.5 66 +4.1% Spain 3766 72.1% +3.4 54 +4.8% Italy 1436 52.6% -0.3 77 -1.0% UK ( in GBP) 7315 71.6% +5.3 52 +2.2% USA (in $) 106757 61.0% -0.7 47 +4.0% ECONOMY HOTELS RevPAR RevPAR by Subsidiaries Subsidiaries Subsidiaries & country at (reported) managed March-end 2007 (YTD) (in local (chg in %) (like-for-like(1) (reported) currency) France 31 +5.1% +04% +05% Germany 38 +9.1% +08% +09% Netherlands 52 +23.2% +23% +23% Belgium 44 +6.6% +10% +07% Spain 39 +9.9% +10% +10% Italy 40 -1.5% +00% -02% UK (in GBP) 37 +10.4% +13% +11% USA (in $) 28 +2.8% +02% +03% (1) at comparable scope of consolidation and excahange rates. MEDIA CONTACTS Armelle Volkringer Vice President, Corporate Communication and External Relations Tel.: +33-(0)1-45-38-84-85 Arnaud Leblin Chief Media Relations Officer Tel.: +33-(0)1-45-38-84-85 INVESTOR CONTACTS Eliane Rouyer Senior Vice President Investor Relations and Financial Communications Tel.: +33-(0)1-45-38-86-26 Anthony Pallier Investor Relations Tel.: +33-(0)1-45-38-86-33 DATASOURCE: Accor CONTACT: MEDIA CONTACTS: Armelle Volkringer, Vice President, Corporate, Communication and External Relations, Tel.: +33-(0)1-45-38-84-85; Arnaud Leblin, Chief Media Relations Officer, Tel.: +33-(0)1-45-38-84-85; INVESTOR CONTACTS: Eliane Rouyer, Senior Vice President, Investor Relations and Financial Communications, Tel.: +33-(0)1-45-38-86-26; Anthony Pallier, Investor Relations, Tel.: +33-(0)1-45-38-86-33

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