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Sale and management back of the Sofitel Paris Le Faubourg for â‚¬113 million

As part of the asset management strategy, the Sofitel Paris Le Faubourg has been sold to Mount Kellet Capital Management LP under a sale and management-back agreement for a total value of €113 million (€769,000 per room), including a €13-million renovation program. The flagship hotel, with 147 rooms and suites, will continue to be operated by Accor under a long- term management agreement. It will remain open during the renovation program, scheduled for 2014.

Review of the Year



Reassessment of withholding tax

As part of the dividend withholding tax dispute with French tax authorities (see note 39 to the consolidated financial statements, page 262 ), on April 5, 2013, Accor will pay the French State a total of €184.7 million, corresponding to the refund of a portion of the précompte withholding tax paid in respect to 1999, 2000 and 2001, along with the late interest received in 2007.

Launch of a bond issue

On March 15, 2013, Accor took advantage of favorable conditions on the credit market, at a time of low interest rates, to successfully place a six-year bon d issue for an amount of €600 million with an annual coupon of 2.5% .