Accor : Third-quarter 2019 revenue presentation

O c t o b e r 1 7 t h , 2 0 1 9

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This presentation is for information purposes only and does not constitute an offer or solicitation for the sale or purchase of any securities, any part of the business or assets

described herein, or any other interests. It includes only summary information and does not purport to be comprehensive. The information contained in this document has not been independently verified.

This document may contain certain statements that are forward-looking with respect to the financial condition, results of operations, business and strategy of Accor S.A. Such statements are based on management's current views and assumptions, which are naturally subject to risks and contingencies that may lead such statement to ultimately prove inaccurate. These risk factors are further developed in Accor's Registration Document. Accor S.A., its affiliates, directors, advisors, employees and

representatives, expressly do not assume any liability whatsoever for such forward-looking statements. Accor S.A. does not undertake to update or revise the forward-

looking statements or any other information that may be presented in this document to reflect new information, future events or for any other reason and any opinion expressed in this presentation is subject to change without notice.

The figures included in this presentation are restated after IFRS 5, excepted otherwise stated.

This presentation may include some information on specific transactions that shall be considered as projects only and may remain subject to certain approvals and other

conditions.

Business Momentum

Q3 2019 Achievements

System Growth		Financial Performance

Systemwide RevPAR

+ 0.7% L/L

Resilience in Europe

driven by France

Uncertainty on

China-related issues

+8,500 rooms opened

Pipeline at 205k rooms

Sustained net system growth

as a solid driver

€1,049m Revenue

up +4.1% L/L

up +10.9% reported

Management & Franchise revenue

up +5.2% L/L

Confirming the revelance

of our business model

Heading for 5,000 hotels by year-end

In rooms, as of September 2019

341k

224k
101k
62k	43k	61k
41k		39k
		14k
		5k

Europe	Asia-Pacific	Middle East	South America	North America,
		& Africa		Central America
				& the Caribbean

Network

Hotels 4,946

Rooms 726k

Pipeline

Hotels 1,181

Rooms 205k

Positive RevPAR growth in Q3 19

5,3%		5,9%	6,1%
5,0%
								Q3 19 RevPAR by segment
							4,0%
										Economy	+1.9%
						1,6%
								0,7%		Midscale	+0.9%
	Q1	Q2	Q3	Q4	Q1	Q2	Q3
										Luxury	(0.4)%
		2018				2019

Occupancy Rate		Average Room Rate		RevPAR L/L