STRATEGIC NEW NOVOTEL OPENS IN SHANGHAI

Novotel Atlantis opens as Shanghai's premier 4-star hotel

1 June 2000: Accor today opened one of its most strategic new hotels in Asia

- Novotel Atlantis Shanghai - in the heart of Pudong, the city's new

financial and commercial centre.

Offering classic European style and service, the Novotel is the Pudong

district's highest quality 4-star hotel. The hotel has been developed by the

global China Ocean Shipping Company Group (COSCO) and is being managed by

Accor, the world's largest hotel and tourism operator.

The opening of the Novotel Atlantis Shanghai is part of a major expansion of

Novotel in China. Accor currently manages six Novotels in China - including

the Novotel Peace Hotel in Beijing - and a further two Novotels are due to

be added to the network in 2000. Accor also manages three 5-star Sofitel

hotels in Shanghai, Zhengzhou and Jinan, and the addition of the two new

Novotels will see Accor's network in China grow to 11 hotels by the end of

the year.

The Novotel Atlantis Shanghai is situated on the top floors of the 50-storey

Shanghai International Ocean Shipping and Financial building and consists of

300 guestrooms (including 13 suites). There are four Executive Floors and a

separate floor for female guests. All rooms are equipped with voicemail,

dataports for e-mail, and internet access.

The hotel has an excellent range of recreational facilities including a

fully-equipped gymnasium, sauna, jacuzzi, heated indoor swimming pool,

massage centre, beauty salon and children's activities programme.

With the hotel's premier location and its international clientele, the hotel

is expecting to become one of the area's most popular entertainment venues,

with ten restaurants and bars offering cuisines from around the world. Art

50, a revolving restaurant on the 50th floor of the hotel, is the first of

its kind in Shanghai and features fine-dining combined with an art gallery

exhibiting contemporary artworks, making it an ideal venue for appreciation

of the best in dining and art.

In addition, the hotel operates an upmarket Cantonese restaurant (The Golden

Shark), an authentic Mediterranean restaurant (Olive's), a 24 hour coffee

shop (2nd Deck), an internet café, poolside health bar, cigar lounge (Club

Havana), gourmet deli, and fun pub (Hot Stock).

The Novotel has already made a significant impact in the MICE market, with

bookings for conferences well into 2001. The hotel offers seven function

rooms, all equipped with state-of-the-art meeting and banqueting facilities,

capable of hosting up to 500 delegates.

To celebrate the soft opening, the Novotel has a special introductory rate

of US$58 (RMB480) per night for a superior room, including one buffet

breakfast. Other room types, including suites, are available for 60% off

rack rate, with the introductory rates valid till 31 December 2000.

Accor is the world's largest hotel and tourism company, operating in 140

countries around the world. The global group is a leader in travel, tourism

and corporate services with two major international activities:

* hotels (3400 hotels, including 170 in Asia-Pacific under Sofitel,

Novotel, All Seasons, Mercure, and Ibis brands) and complementary businesses

including travel agencies, restaurants and casinos;

* services (cards and vouchers) with Accor Corporate Services.