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A New Voyage Begins

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A New Voyage Begins A new voyage begins 2013 REGISTRATION DOCUMENT AND ANNUAL FINANCIAL REPORT ACCO_1402056_Couv_Doc de ref_A4_GB.indd 1 01/04/14 19:16 Content 1 4 CORPORATE 2013 REVIEW OF PRESENTATION 3 THE YEAR 163 1.1. Corporate Profile 4 4.1. Financial review AFR 164 1.2. Core Businesses 4 4.2. Report on the parent company financial statements 1.3. Financial highlights 11 for the year ended December 31, 2013 172 1.4. Milestones 12 4.3. Material contracts AFR 175 1.5. Strategic Vision and Outlook 15 4.4. Significant events of early 2014 AFR 175 2 5 CORPORATE FINANCIAL RESPONSIBILITY 23 STATEMEMENTS AFR 177 2.1. Background and challenges 24 5.1. Statutory auditors’ report on the consolidated financial statements 178 2.2. Stakeholder relations 26 5.2. Consolidated Financial Statements and Notes 179 2.3. Corporate social responsibility process and commitments 33 5.3. Statutory auditors’ report on the financial statements 280 2.4. CSR and Governance 43 5.4. Parent Company Financial Statements and Notes 282 2.5. Commitments to employees AFR 44 2.6. Commitments to society AFR 55 2.7. Environmental commitments AFR 67 6 2.8. Measuring and assessing our performance 82 2.9. Independent verifier’s report on consolidated social , CAPITAL AND OWNERSHIP environmental and societal information presented STRUCTURE 317 in the management report 94 6.1. Information about the Company 318 6.2. Share capital AFR 321 6.3. Ownership structure AFR 325 3 6.4. The market for Accor Securities 328 CORPORATE GOVERNANCE 97 3.1. Administrative and management bodies 98 7 3.2. Report of the Chairman OTHER of the Board of Directors AFR 113 INFORMATION 329 3.3. Statutory Auditors’ report on the Report of the Chairman of Accor’s Board of Directors AFR 131 7.1. Investor relations and documents on display 330 3.4. Risk Management 132 7.2. Persons responsible for the registration 3.5. Interests and Compensation AFR 139 document and the audit of the accounts AFR 332 3.6. Statutory Auditors’ special report on related‑party 7.3. Fees paid to the Auditors AFR 333 agreements and commitments 157 7.4. Information incorporated by reference 333 7.5. Cross‑reference table for the Registration Document 334 7.6. Cross‑reference table for the Annual Financial Report 336 7.7. Cross‑reference table – corporate social responsibility 337 AFR Information disclosed in the Annual Financial Report is indicated in the contents by the pictogram. REGISTRATION DOCUMENT and Annual Financial Report 2013 The original French version of this translated Registration Document was filed with the Autorité des Marchés Financiers on March 28, 2014 in accordance with article 212-13 of the General Regulations of the Autorité des Marchés Financiers. It may be used in connection with a financial transaction in conjunction with an Information Memorandum approved by the Autorités des Marchés Financiers. This document was prepared by the issuer and is binding on its signatories. Corporate PRESENTATION 11.1. CORPORATE PROFILE 4 1.2. CORE BUSINESSES 4 1.2.1. Hotels 4 1.2.2. Other businesses 10 1.3. FINANCIAL HIGHLIGHTS 11 1.4. MILESTONES 12 1.5. STRATEGIC VISION AND OUTLOOK 15 1.5.1. 2013: Ambitious projects completed 16 1.5.2. Trends and Outlook 17 1.5.3. A new strategic vision 18 Registration Document 2013 3 Corporate Presentation 1 Corporate Profile 1.1. CORPORATE PROFILE Accor, the world’s leading hotel operator, offers its guests and partners the dual expertise of a hotel operator and brand franchisor (HotelServices) and a hotel owner and investor (HotelInvest) with the objective of ensuring lasting growth and harmonious development for the benefit of the greater number. With around 3,600 hotels and 460,000 rooms, Accor welcomes business and leisure travelers in 92 countries across all hotel segments: luxury- upscale with Sofitel, Pullman, MGallery, and Grand Mercure, midscale with Novotel, Suite Novotel, Mercure and Adagio and economy with ibis, ibis Styles, ibis budget and hotelF1. The Group boasts a powerful digital ecosystem, notably its booking portal accorhotels.com, its brand websites and its loyalty program Le Club Accorhotels. As the world’s top hospitality school, Accor is committed to developing the talents of its 170,000 employees in Accor brand hotels. They are the daily ambassadors of the culture of service and innovation that has driven the Group for over 45 years. 1.2. CORE BUSINESSES 1.2.1. HOTELS Present in every segment, from luxury to economy, Accor is uniquely positioned in the global hospitality market. A portfolio structured to meet demand, from luxury to economy Luxury and upscale Sofitel and its Ambassadors bring French elegance to the world MGallery is a Collection of high-end hotels located around the through a collection of prestigious hotels, offering their guests and world, each of which talentedly expresses a unique personality partners personalized service that combines an emotional experience, and narrative, that guests experience through the architecture, outstanding performance and excellence. The Sofitel Luxury Hotels interior design and amenities. Each one is inspired by one of the brand has now been enhanced with two new labels that share its DNA: Collection’s three typical atmospheres: “Heritage” filled with Sofitel Legend offers a collection of legendary hotels, often in history; “Signature” reflecting an esthetic universe; and “Serenity” centuries-old heritage buildings, beautifully set off by stunning promising a relaxing retreat. renovations; Network: 68 hotels, 6,917 rooms in 22 countries. Sofitel So is the new boutique hotel label epitomized by ultra- contemporary styling in trendy destinations. Sofitel So’s chic, Guests: 40% business – 60% leisure. modern design skillfully blends Sofitel’s famous “art de vivre” and the signature of an internationally renowned designer from the world of art or fashion. Network: 120 hotels, 28,216 rooms in 41 countries. As our regional upscale brand, Grand Mercure places particular Guests: 48% business – 52% leisure. emphasis on embodying the essence of local hospitality, in a constant commitment to elegant refinement. With Mei Jue in China and Maha Cipta* in Indonesia, Grand Mercure enables travelers to experience local culture to the fullest. Their staff are dedicated to providing every guest with the care and In style and cosmopolitan, Pullman is world-renowned as Accor’s attention that make for an unforgettable stay. international upscale brand. Located in the heart of the most sought-after city and tourist destinations, its hotels and resorts Network: 13 hotels in China and 2 hotels in Indonesia, 4,488 rooms cater to an international clientele from around the world, traveling in all. for business or pleasure. Guests: 63% business – 37% leisure (China only; Indonesian data They promise an innovative, efficient guest experience, combining unreported). warm, skillful hospitality with personalized offers and services. Network: 81 hotels, 23,264 rooms in 24 countries. * The local version of Grand Mercure, unveiled in March 2013 and Guests: 70% business – 30% leisure. custom designed for the Indonesian market. 4 Registration Document 2013 Corporate Presentation Core Businesses 1 Midscale Economy Novotel, our international midscale brand, features hotels located ibis, the European leader in economy lodging, offers guests the in the heart of major international cities, as well as in business finest accommodations and highest quality services in its category districts and tourist destinations. at the market’s lowest price. With its comprehensive range of solutions, Novotel enables business Everywhere around the world, the brand guarantees a consistent and leisure travelers alike to feel right at home. guest experience, with a modern, connected, soundproofed room, Network: 402 hotels, 76,383 rooms in 60 countries. an innovative, supremely comfortable bed, breakfast from 4:00 am Guests: 60% business – 40% leisure. to noon, and a wide range of restaurant concepts. Network: 999 hotels, 124,022 rooms in 59 countries Guests: 65% business – 35% leisure. Suite Novotel offers midscale hotels located mainly in city centers, whose off-beat, avant-garde spirit invites medium-stay guests to enjoy a totally different hotel living experience. Guest needs are met around the clock with modular 30 sq.m. suites A non-standardized economy brand with a multitude of styles and a range of innovative services. and a Happy Mood personality, ibis Styles is being developed Network: 30 hotels, 3,736 rooms in 9 countries. mainly through franchising. With its focus on business and leisure customers traveling alone or with the family, the brand features Guests: 61% business – 39% leisure. customer-friendly solutions at an all-inclusive price covering the room, breakfast, Wi-Fi and a host of extra amenities. Network: 233 hotels, 21,156 rooms in 21 countries. Guests: 58% business – 42% leisure. Mercure is the only midscale hospitality brand to combine the power of an international network, backed by an uncompromising commitment to quality, and the friendly experience of individually unique hotels rooted in their local community and managed by enthusiastic hoteliers. In city centers, by the sea or in the mountains, the Mercure network The global benchmark in budget accommodations, ibis budget welcomes business and leisure travelers around the world. (formerly Etap Hotel) is our clever, casual brand that expresses the values of simplicity, trendiness and well-being. The hotels feature Network: 743 hotels, 91,083 rooms in 51 countries. comfortable cocoon rooms with super-soft duvets and fluffy new Guests: 56% business – 44% leisure. pillows, an extra-large shower stall, a flat-screen TV, Wi-Fi and an all-you-can-eat breakfast buffet. Network: 506 hotels, 46,547 rooms in 16 countries. Guests: 60% business – 40% leisure. Adagio Aparthotels offer modern apartments with a kitchen and hotel services in urban locations for extended stays, based on attractive tiered pricing from the fourth night onwards.
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