Singapore, 26th February 2009 - ibis, the worldwide economy hotel brand of the Accor group, today opens its largest ibis hotel in Asia Pacific, Singapore�s first internationally branded economy hotel, the ibis Singapore on Bencoolen. The S$145 million, 538-room hotel is the largest ibis outside Europe and has been developed by LaSalle Investment Management.

Michael Issenberg, Chairman and Chief Operating Officer, Accor Asia Pacific said, �The opening of the first ibis hotel in Singapore marks a very important milestone for the ibis brand. It demonstrates our continued capacity to meet the ambitious objectives of our global development programme and heralds a new era of international-quality, economy accommodation in Singapore � which is a key market for the brand in the Asia Pacific�.

Ian Mackie, Chief Investment Officer, LaSalle Investment Management said,�We are pleased to have worked together with Accor to deliver this exciting project and expect the hotel to leverage the growing popularity of branded economy accommodation in Asia. The development of ibis Singapore on Bencoolen represents a niche real estate investment product for LaSalle Investment Management�. The ibis Singapore on Bencoolen is ideally located on Bencoolen Street in the heart of the Bugis cultural and art district, and within easy reach of Orchard Road � popular with shoppers. The hotel is conveniently situated for business travellers, with some of Singapore�s largest corporate offices and the Suntec Singapore International Convention and Exhibition Centre close by.

All rooms boast contemporary, stylish design and furnishings, with high ceilings and large bay windows. Full communications services are available including free Wi-Fi internet access and flat-screen TVs with cable channels. Rooms also offer an in-room safe, tea/coffee making facilities and en-suite bathroom facilities.

The hotel�s restaurant � its� all about TASTE � has its unique dining concept endorsed by makan guru KF Seetoh who has designed a menu comprising 20 of Singapore�s most iconic dishes, all of which can be enjoyed �tapas style�. The dishes are competitively priced and available for lunch and dinner, seven days a week.

The hotel also features a bar located in the heart of the public space of the hotel, offering a large variety of local and international beverages. The ibis offers a choice of hot snacks available 24 hours a day providing convenience to business and leisure travellers alike.

Puneet Dhawan, General Manager of the ibis Singapore Bencoolen, said: �Singapore is well developed as a travel hub within the Asia Pacific, but has long been in need of quality, affordable accommodation in the heart of the city. Existing hotels in the 3-star market are notoriously variable in standards. The new ibis Singapore brings with it the world wide reference of the ibis hotel brand in terms of comfort and services.�

�With an opening rate of S$148, with an excellent location and international branding � makes the ibis a very attractive base for both business and leisure travellers, and will help dispel the idea that Singapore is an expensive destination.�

Up to two new ibis hotels every week in the world

The launch of the ibis Singapore on Bencoolen represents an important step in the ongoing worldwide expansion programme of the ibis network. It is the 60th ibis to open in the Asia Pacific region, complementing the brand�s rapidly growing presence in all of Singapore�s top six inbound markets � Indonesia, China, India, Australia, UK and South Korea.

Since its creation in 1974, the brand has grown consistently, first in Europe and gradually in all continents. Following an already significant progression in 2008, when ibis opened 58 hotels representing 11,000 new rooms in more than 20 countries, the brand will be accelerating its expansion again this year. Between 2009 and 2010, one to two new ibis hotels will be launched in the world every week, 40% of which in key cities of the Asia pacific region, nearly doubling the brand�s presence in the area.

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ibis, the worldwide economy hotel brand of the Accor group, offers consistent quality accommodation and services in all its hotels, for the best local value: a well-designed and fully-equipped en-suite bedroom, major hotel services available 24/7 and a wide choice of on-site food and beverage options. The quality of the ibis standard has been recognised by the International Organization for Standardization certification ISO 9001 since 1997. ibis is also the world�s first hotel chain to demonstrate its environmental commitment through securing the ISO 14001 certification, which has already been awarded to nearly one third of its hotels. Established in 1974, ibis is the European leader and one of the first economy hotel chains in the world, with nearly 90,000 rooms and 800 hotels in 40 countries, including ibis Singapore on Bencoolen. For additional information, please visit www.ibishotel.com

Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate clients and public institutions, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40 years of expertise in two core businesses: � Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, ibis, all seasons, Etap Hotel, Formule 1 and Motel 6 brands, representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Len�tre; � Services, with 30 million people in 40 countries benefiting from Accor Services products in employee and public benefits, rewards and loyalty, and expense management.

About LaSalle Investment Management LaSalle Investment Management, Inc., a member of the Jones Lang LaSalle group (NYSE: JLL), is a leading global real estate investment manager, with approximately $50 billion of assets under management. LaSalle Investment Management is active across a range of real estate capital and operating markets including private and public, debt and equity. LaSalle have 9 major assets in Singapore including 3 international hotels. For more information, visit www.lasalle.com.

Evan Lewis Vice President Communications - Accor Asia Pacific Tel: +65 6408 840 Email: Evan.Lewis@accor.com www.ibishotel.com.cn