Get Adobe Flash player (1) “Worldwide Structures” corresponds to revenue (royalties) that is not specific to a single geographic region. (2) In accordance with IFRS 5, revenues of the US Economy Hotels and Onboard Train Services businesses have been reported in profit or loss from discontinued operations (see note 17). Consolidated revenue for 2012 totalled €5,649 million, compared with €5,568 million for 2011. The period-on-period increase of €81 million or (+1.5%) breaks down as follows:

NOTE 3 CONSOLIDATED REVENUE BY BUSINESS AND BY REGION

Europe Asia Latin America Other Worldwide (in million of euros) France (excl. France) Pacific & Caribbean Countries Structures (1)

2012 2011 (2)

HOTELS 1,856 2,373 630 396 204 38 5,384

Upscale and Midscale Hotels 1,173 1,530 451 187 159 36

3,488 Economy Hotels 683 843 179 209 45 2

1,896

OTHER BUSINESSES 45 6 95 -4 2 184

TOTAL 2012 1,901 2,379 725 396 208 40

TOTAL 2011 (2) 2,071 2,359 570 349 206 13 5,568

5,497 3,536 1,961 152 5,649

w Like-for-like growth +152 m€ +2.7%

w Business expansion (owned and leased hotels only) +154 m€ +2.8%

w Currency effects +60 m€ +1.1%

w Disposals (285) m€ (5.1)%

INCREASE 2012 REVENUE +81 m € +1.5%

D. Bond Issues

In 2009, Accor completed three bonds issue:

a on February 4, 2009, Accor placed a fixed rate bond issue of €600 million, with a 5 year-maturity (February 4, 2014) and a coupon of 7.50%;

a on May 5, 2009, Accor placed a fixed rate bond issue of €600 million, with a 4 year-maturity (May 6, 2013) and a coupon of 6.50%;

a on August 24, 2009, Accor placed a fixed rate bond issue of €250 million, with a 8 year and 3 months-maturity (November 6, 2017) and a coupon of 6,039%.

Financial statements

CONSOLIDATED FINANCIAL STATEMENTS

5

In 2010 and 2011, €206.3 million worth of bonds due 2013 and €197.75 million worth of bonds due 2014 were bought back, representing a total transaction price of €404.05 million.

In 2012, Accor placed a fixed rate bond issue of €700 million, with a 5 year-maturity (maturity 19 June 2017) and a coupon of 2,875%.

E. Signature of a syndicated line of credit

In May 2011, Accor closed a €1.5 billion syndicated line of credit that replaced the €2 billion syndicated credit facility signed in June 2007. The old line of credit was reduced to €1.7 billion in June 2010.

The five-year facility will lengthen the average maturity of Accor’s financing.