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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Accor    AC   FR0000120404

ACCOR (AC)
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ACCOR : Shareholders’ AGM dedicated to openness

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05/11/2012 | 07:49pm CEST
Press Release

Paris, May 10, 2012

Shareholders' AGM

dedicated to openness

The Shareholders' AGM, chaired by Chairman and CEO Denis Hennequin, was held today, in Paris. Shareholders either present or represented (the quorum), who altogether hold 75.67% of the shares, adopted all the resolutions.
During the AGM, Denis Hennequin underlined Accor's healthy results in 2011 and walked shareholders through the Group's strategy.
He highlighted developments in the system that enables to drive the Group's transformation, the "P&L Performance", which now provides detailed results for the various operation modes. He also presented the new sustainable development program, PLANET 21, which sets 21 goals for 2015, and its pledge to provide updates on progress towards those goals every year.
Denis Hennequin told shareholders about the latest developments in efforts to re-dynamise economy brands with the new brand architecture - ibis as the "mega-brand" encompassing three brands, namely ibis, ibis Styles (formerly All Seasons) and ibis budget (formerly Etap Hotel). Lastly, he confirmed the Group's growth objectives, i.e. to open 40,000 rooms in 2012 and 2013, mainly under franchises and management contracts.
Besides, Sophie Stabile, CFO, commenting on business levels for 2012, announced that RevPAR had been positive for all segments last April, with respective increases of +6.3% for Upscale & Midscale hotels,
+5.5% for Economy Hotels excl. the US, and +1.9% for US Economy Hotels, all these performances being mostly led by price, in line with the trends seen in the first quarter of the year.
The €0.65 per share ordinary dividend and €0.50 per share extraordinary dividend were approved by
the Shareholders' AGM. The dividend will be paid out on 14 June 2012 (ex-date: 11 June 2012).
The Shareholders' AGM also renewed the 3-year terms of Board members Ms Mercedes Erra, Mr Jean- Paul Bailly, Mr Philippe Citerne and Mr Bertrand Meheut. They are independent Board members.

Accor, the world's leading hotel operator and market leader in Europe, is present in 92 countries with more than 4,400 hotels and 530,000 rooms. Accor's broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons/ibis Styles, Etap Hotel/Formule 1/ibis budget, hotelF1 and Motel 6 - provide an extensive offer from luxury to budget. With more than 180,000 employees* in Accor brand hotels worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.

*Including 145,000 in owned, leased and managed hotels

MEDIA RELATIONS

INVESTOR RELATIONS CONTACTS

Agnès Caradec Senior Vice President Communications & External Relations

Phone : +33 1 45 38 87 52

Elodie Woillez

Phone: +33 1 45 38 87 08

Sébastien Valentin Senior Vice President Financial Communications & Investor Relations

Phone: +33 1 45 38 86 25

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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 44,4 €
Spread / Average Target 6,8%
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NameTitle
Sébastien Bazin Chairman & Chief Executive Officer
Jean-Jacques Morin Chief Financial Officer
Jean-Paul Bailly Independent Non-Executive Director
Mercedes Erra Independent Non-Executive Director
Sophie Gasperment Independent Non-Executive Director
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