ACCOR THE LEADING HOTEL TOURISM COMPANY

¡¡¡¡ÐÂÀËÌåÓýѶ¡¡Accor is one of the world¡¯s largest hotel and tourism companies. Over the past three decades, Accor has built a network that comprises 4,000 hotels, including 286 in the Asia Pacific region under the Sofitel, Grand Mercure, Novotel, Mercure, All Seasons, Ibis and Formule 1 brands. In addition, Accor operates a Services division which provides a range of corporate services including employee assistance programs, people care, incentive and loyalty programs, events and food vouchers.

¡¡¡¡With a presence in more than 100 countries, Accor employs a workforce of over 160,000 and generates annual revenue in excess of Euro € 7 billion. It is listed on the Paris stock exchange.

¡¡¡¡In the hotel sector, Accor continues to grow rapidly through acquisition of hotel groups and the award of management contracts. The growth is based on Accor¡¯s unique international position in the marketplace, with its renowned brands serving all segments of the business and leisure hospitality markets, from budget to luxury. Accor¡¯s main hotel brands are:

¡¡¡¡Sofitel (deluxe) ¨C The Sofitel network of world-class hotels primarily focuses on business and leisure travellers who are looking for first class quality, comfort and service, and a personal, refined atmosphere.

¡¡¡¡Grand Mercure (local character) - renowned for their distinctive style and character, with each hotel becoming an integral part of their destination, with the design, d¨¦cor, cuisine and

¡¡¡¡service all reflecting the most attractive aspects of the local destination.

¡¡¡¡Novotel (first class) ¨C Accor¡¯s ¡°business class¡± brand is renowned for its consistent international standards and good value. Modern, stylish hotels, Novotels are located in prime business centres and popular resort destinations.

¡¡¡¡Mercure (a multi-tiered mid-market brand) ¨C Mercure hotels cover the spectrum of the market ¨C Grand Hotels, Apartments, Hotels, Resorts and Inns ¨C all with distinctive style and service, ensuring they are the ¡°key¡± to the city or region in which they operate.

¡¡¡¡Ibis (economy class) ¨C Ibis hotels are renowned throughout the world for their simplicity, quality and value for money. Properties are conveniently located in central business districts and major regional and suburban areas.

¡¡¡¡Formule 1 (budget) ¨C Formule 1 motels are located in city and regional areas, close to transport, food outlets and ancillary services. An innovative brand that provides a consistent motel-style accommodation at budget rates.

¡¡¡¡Accor is principally an owner of its hotel businesses, with over two-thirds of the company¡¯s hotel either owned or leased. The remainder are either managed or operated under franchises. The current strategy for China is to focus on managing hotels.

¡¡¡¡In Asia Pacific, Accor has established itself as the largest and most dynamic hotel group in the region in a little over a decade.

¡¡¡¡With a network of 286 properties and over 53,505 rooms throughout Asia and the Pacific, Accor hotels can now be found in 16 countries: Australia, New Zealand, New Caledonia, Fiji, China, Hong Kong SAR, Korea, Singapore, Indonesia, Malaysia, the Philippines, Thailand, Vietnam, Cambodia, Laos, and Japan.

¡¡¡¡The company¡¯s Asia Pacific Head Office is based in Sydney with Asia regional Office in Bangkok, China Representative office is located in Shanghai. Major sales and operations offices in the region are also in Hong Kong, Shanghai, Jakarta, New Delhi, Singapore, Tokyo and Auckland. There are total 28 international sales offices covering all continents.

¡¡¡¡In summary, Accor¡¯s expertise is in the management of hotels, from conception to technical advice in design and construction fit-out, pre-opening planning and service and operation.

¡¡¡¡More than 25,000 people are currently employed in the hotels managed by Accor Asia Pacific and specifically 11,725 employees alone in China.

¡¡¡¡Accor, European leader in hotels and tourism, global leader in corporate services, operates in nearly 100 countries with 160,000 employees. It offers to its individual and corporate clients nearly 40 years of expertise in its two core businesses:

¡¡¡¡- Hotels, with the Sofitel, Novotel, Mercure, Suitehotel, Ibis, Red Roof Inn, Etap Hotel, Formule 1 and Motel 6 brands: over 4,000 hotels and 475,000 rooms in 90 countries, as well as strategically related activities, such as Lenôtre;

¡¡¡¡- Services to corporate clients and public institutions: 21 million people in 35 countries benefit from Accor Services products ¨C meal and food vouchers, people care, incentive and loyalty programs.