PR Newswire/Les Echos/
 
                          Press Release
Paris, September 10, 2008

Accor confirms its commitment to Poland by raising its stake in the Orbis group 
to 50%

As part of its hotel development strategy in Central Europe, a market with very 
strong growth potential, Accor has announced that it has raised to 50.01% its 
holding in the Orbis group, which is listed on the Warsaw Stock Exchange. Accor
, which had held a 45.48% share in the company since August 2007, recently 
acquired an additional 4.53% stake at a price of PLN 55.4 per share, 
representing a total investment of approximately 35 million euros.

A formerly state-owned company that was eventually privatized in 2000, Orbis is 
Poland's historic leading hotel operator, with a portfolio of 62 hotels (12,000 
rooms), including 42 operated under the Sofitel, Novotel, Mercure, ibis and 
Etap Hotel brands. All of the properties enjoy outstanding locations in the 
country's 30 largest cities.

A partner with Orbis since 1973 and shareholder since 2000, Accor has been 
gradually increasing its stake in the company. From the outset, the Group has 
been committed to working closely with Orbis teams, sharing skills and 
expertise through franchise agreements.

In expressing his satisfaction with the transaction, Gilles Pélisson, Accor 
Chief Executive Officer, said: 'Strengthening our holding in Poland's historic 
hotel leader with its very high quality assets represents a unique opportunity 
for Accor to develop its brands-especially in the economy segment-in Central 
Europe's largest country, which enjoys excellent growth prospects.'

Orbis, which earned net profit of 41 million euros on revenue of 307 million 
euros in 2007, will be fully consolidated as from July 1, 2008. In addition to 
hotels, the company also has operations in travel services, car rental, coach 
services and casinos, and has approximately 4,600 employees.

Accor was advised in the transaction by Société Générale Corporate & 
Investment 
Banking.

                                         *****

Accor, the European leader and a major global group in hotels, the global 
leader in services to corporate clients and public institutions, operates in 
nearly 100 countries with 150,000 employees. It offers to its clients over 40 
years of expertise in its two core businesses:
- Hotels, with the Sofitel, Pullman, Novotel, Mercure, Suitehotel, ibis, all 
seasons, Etap Hotel, Formule 1 and Motel 6 brands, representing more than 4,000 
hotels and nearly 500,000 rooms in 90 countries, as well as strategically 
related activities, such as Lenôtre.
- Services, with 30 million people in 40 countries benefiting from Accor 
Services products in human resources, marketing services and expense management.

MEDIA CONTACTS                                                              
INVESTOR RELATIONS
Emmanuelle Baumgartner    Alain Delrieu            Sandrine Guendoul        
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Media Relations Director  Senior Press Officer     Communications Manager,  
Senior Vice President,           Deputy Director,
Tel.: +33 1 45 38 84 77   Tel.: +33 1 45 38 84 85  Hotels Northern Europe   
Investor Relations & Financial   Investor Relations
                                                   Tel.: +33 1 45 38 18 17  
Communications                   Tel.: +33 1 45 38 86 33
                                                                            
Tel.: +33 1 45 38 86 26


                         
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