SECTION 1 -

Without calling into question the conclusion set forth above, we direct your attention to
paragraph “ B – Restatement of the pro forma financial statements” of our schedule entitled “Basis
for the preparation of the pro forma financial statements” which presents, in particular, the methods
used to allocate a portion of the Accor group’s net financial indebtedness to New Services Holding
and where it is specified that:
• An identical indebtedness amount was allocated to New Services Holding for each of
the three prior fiscal years presented;
• The related financial expense generated by this date was recorded as income for
each of the three fiscal years presented and as an offset to shareholders’ equity.
This report is issued solely for the purposes of the public offering in France and in other
countries of the European Union in which the prospectus approved by the AMF may be used, and may
not be used for any other purpose.
328
Neuilly‐sur‐Seine, May 11, 2010
The Statutory Auditor
Deloitte & Associés