Get Adobe Flash player 5Financial statements CONSOLIDATED FINANCIAL STATEMENTS At December 31, 2011, the main values (before any impairment losses recognized during the year) of goodwill and intangible assets with indefinite useful lives included in the carrying amounts of the CGUs tested for impairment at that date were as follows: (in million of euros) Goodwill Intangible assets with indefinite useful life

HOTELS

Australia 183 -

Germany 180 -

France (excluding Adagio) 163

Motel 6 -156

Asia 45

NET GOODWILL AND INTANGIBLE ASSETS WITH INDEFINITE USEFUL LIFE INCLUDED IN CASH-GENERATING UNITS 571* 156

* This amount represented 80% of goodwill recognized at December 31, 2011.

B. Assumptions applied

The methods used to calculate recoverable amounts are described in note 1.E.6.
At December 31, 2012, the average Group discount rate based on market values was 8.90%.
The main other assumptions used to estimate recoverable amounts were as follows:

Hotels

France December 2012 Germany (excluding Adagio) Asia Australia

Basis on which the recoverable amount EBITDA multiples method/ EBITDA multiples Discounted cah Discounted cah has been determined Discounted cah flow method method flow method flow method

Multiple used see note 1.E.6 8.5 N/A N/A

Period of projections (years) 5 N/A 5 5

Growth rate 2.00% N/A 2.00% 2.60%

Discount rate 8.90% N/A 10.20% 8.50%

At December 31, 2011, the average Group discount rate based on market values was 9.12%. The main other assumptions used to estimate recoverable amounts were as follows:

Hotels

France (excluding December 2011 Germany Adagio) Asia Australia Economy US

Basis on which the recoverable amount has been Discounted EBITDA Discounted Discounted Discounted determined cah flow multiples cah flow cah flow cah flow method method method method method

Multiple used N/A 8.5 N/A N/A N/A

Period of projections (years) 5 N/A 5 5 7

Growth rate 2.00% N/A 2.00% 2.60% 2.00%

Discount rate 8.96% N/A 10.85% 9.61% 8.81%