Download Comm n°6

Transcript
&RPPXQLFDWLRQ7HFKQLTXH
1ƒ (G 3URGXLW(OLWHFRVW
1EGHSDJHV ■
8UJHQWH
❏
7HPSRUDLUH
❏
1RQ8UJHQWH
■
'pILQLWLYH
2EMHW
'DWH
&RQYHUVLRQjO·(852
,QWURGXFWLRQ
/
(852HVWODGHYLVHGHO
XQLRQPRQpWDLUHHXURSpHQQHTXLDpWpDGRSWpHSDU(WDWVPHPEUHVHQGpFHPEUH
/HHUMDQYLHUOHV(8526VHVXEVWLWXHURQWDX[PRQQDLHVQDWLRQDOHVTXLVHURQWUHWLUpHVYHUVILQ
IpYULHUDXSOXVWDUG$SDUWLUGHFHWWHGDWHOHVPRQQDLHVQDWLRQDOHVQHVHURQWSOXVYDOLGHVSRXUO
XVDJH
MRXUQDOLHU
3URFpGXUHVGHPLJUDWLRQjO
(852
1RXYHDX[SURGXLWV
OHVQRXYHDX[SURGXLWV(OLWHFRVW*XHVWTXLVHURQWYHQGXVDSUqVOHHU'pFHPEUHVHURQW
FRQILJXUpVHQ(XURWDEOHGHVWDULIVHW/DEHOV
3URGXLWVGpMjYHQGXVPRGLILFDWLRQV
GHVSDUDPqWUHVLQWHUQHVGRLYHQWrWUHFKDQJpVTXHOTXHVRLWODFRQILJXUDWLRQGHO
(OLWHFRVW7D[H'XUpH
RX0L[WH
XQHPLVHjMRXUGHVWDEOHVGHWDULIVGRLWrWUHIDLWHHQPrPHWHPSVTXHO
pWDSHGpFULWHFLGHVVXV
&HWWHSURFpGXUHHVWGpWDLOOpGDQVOHGRFXPHQWPLVHjMRXUGHVWDEOHVGHWDULIV
5HPDUTXHV ODPLVHjMRXUGHODWDEOHGHVWDULIVHVWEDVpHVXUXQ&'&RGH%RRN&RQILJXUDWLRQ7RROSRXUOH
WpOpFKDUJHPHQWGXSODQGHVWDULIVHQ(XURjSDUWLUGX3&YHUVO
(OLWHFRVW
XQORJLFLHOG
DSSOLFDWLRQVSpFLILTXHDSSHOp(XUR&RQYHUWHUVHUDGLVSRQLEOHSRXUWpOpFKDUJHPHQWVXUOHVLWH
:HEGX%XVLQHV3DUWQHUGX6XSSRUW7HFKQLTXH&HWWHDSSOLFDWLRQSHUPHWGHFRQYHUWLUHQ(XUROHVWDEOHV
H[LVWDQWHVGHVFOLHQWVVDQVPRGLILHUOHVSDUDPqWUHVGHORFDOLVDWLRQ
O
(OLWHFRVWQ
XWLOLVHSDVGHWDEOHVGHWDULIVLOQ
HVWGRQFSDVFRQFHUQp
,QIRUPDWLRQVJpQpUDOHV
YHUVLRQVORJLFLHOFRQFHUQpHV WRXWHVYHUVLRQV
ODEHO(XUR
DXFXQFDUDFWqUHVSpFLILTXHDIILFKDJHpFUDQ (852
QRPEUHGHGHYLVHDIILFKpHV XQHGHYLVH
QRPEUHGHGHYLVHVLPSULPpHV XQHRXGHX[SDUFRQILJXUDWLRQH[GHYLVH (XURHWGHYLVH )UDQFV
OHWDX[GHFRQYHUVLRQGHODGHYLVHjODGHYLVHHVWSURJUDPPDEOH
DXFXQHV\QFKURQLVDWLRQQLUHFDOFXOGHVFR€WVQHVRQWIDLWVGDQVO
(OLWHFRVW
3$5&216(48(1781()$&785('(7287(6/(6&20081,&$7,216'2,7(75()$,7($9$17
'·())(&78(5/$0,*5$7,21
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
0RGLILFDWLRQV
/HV(OLWHFRVWTXLIRQFWLRQQHQWHQPRGH'85e(RXHQPRGH0,;7(HWTXLFDOFXOHQWOHFR€WG
DSSHOVHQXWLOLVDQW
OHV7DEOHVGHWDULIVGRLYHQWPRGLILHUFHVWDEOHVDILQG
XWLOLVHUO
(852FRPPHGHYLVHDXOLHXGHODYLHLOOH
PRQQDLHQDWLRQDOH
&HFLLPSOLTXHTXHWRXWHVOHV]RQHVH[SULPDQWXQFR€WGRLYHQWrWUHFRQYHUWLHVHQ(8526HQXWLOLVDQWOHVWDX[GH
FRQYHUVLRQpGLWpVSDUOH&RQVHLOHXURSpHQ
&HFKDQJHPHQWSHXWrWUHLQFRUSRUp
- PDQXHOOHPHQWHQXWLOLVDQWO
DSSOLFDWLRQ&RGH%RRN&RQILJXUDWLRQ7RROWURSORQJHWIDVWLGLHX[
- DXWRPDWLTXHPHQWHQXWLOLVDQWO
(XUR&RQYHUWHUGLVSRQLEOHSRXUWpOpFKDUJHPHQWVXUOHVLWH:HEGX
%XVLQHVV3DUWKQHUGX6XSSRUW7HFKQLTXHRXGDQVOHVQRXYHOOHVUHOHDVHVGLVSRQLEOHVDXHU'pFHPEUH
GX&'520&RGH%RRN&RQILJXUDWLRQ7RRO
/·(XUR&RQYHUWHU
,QWURGXFWLRQ
/
(XUR&RQYHUWHUHVWXQHDSSOLFDWLRQDXWRQRPHTXLDpWpGpYHORSSpHSRXUV
DGDSWHUGDQVXQILFKLHUH[pFXWDEOH
VLPSOHHWQ
H[LJHSDVGHSURFpGXUHG
LQVWDOODWLRQVSpFLDOH
/HEXWGHO
DSSOLFDWLRQHVWG
DLGHUOHVXWLOLVDWHXUVGH&RGH%RRN&RQILJXUDWLRQ7RROGDQVOHXUWkFKHHQ
FRQYHUWLVVDQWDXWRPDWLTXHPHQWOHVYDOHXUVGHVPRQQDLHVQDWLRQDOHVHQ(8526
&HWWHPRGLILFDWLRQFRPSRUWHOHVpWDSHVVXLYDQWHV
0RGLILFDWLRQGHVTXDQWLWpVGpILQLHVGDQVOHV7DEOHGHWDULIVGHOD0211$,(1$7,21$/(jO·(852
&RPSLODWLRQGHVQRXYHOOHV7DEOHVGHWDULIVHQ(XURVSRXUREWHQLUXQILFKLHU7$5WpOpFKDUJHDEOH
3. 7pOpFKDUJHPHQWGXILFKLHU7$5GDQVO
(OLWHFRVW
$FHWWHILQLOGLYLVHOHVYDOHXUVWUDQFKHGHWHPSVSRXUOHF\FOHLQLWLDOOHGHX[LqPHF\FOHHWOHVF\FOHV
UHVWDQWVSDUOHWDX[GHFRQYHUVLRQDSSURSULp/HVWDX[GHFRQYHUVLRQXWLOLVpVVRQWFHX[pGLWpVSDUOH&RQVHLO
HXURSpHQSRXUWRXVOHV(WDWVPHPEUHVSDUWLFLSDQWV
(85
%()
'(0
*5'
(63
)5)
,(3
,7/
/8)
1/*
$76
37(
),0
%HOJLTXH
$OOHPDJQH
*UqFH
(VSDJQH
)UDQFH
,UODQGH
,WDOLH
/X[HPERXUJ
3D\V%DV
$XWULFKH
3RUWXJDO
)LQODQGH
8QHIRLVTXHOHVWDEOHVGHWDULIVRQWpWpWUDLWpHVDYHFO·(XUR&RQYHUWHUWRXWHVOHV]RQHVWUDQFKHGHWHPSV
VHURQWFRQYHUWLHVHQ(8526
/·(XUR&RQYHUWHUVHSRVLWLRQQHGLUHFWHPHQWVXUODEDVHGHGRQQpHVGHVWDULIVHQFRQYHUWLVVDQWOHVPRQWDQWV
HQ(85263RXUFHWWHUDLVRQOHSURFHVVXVQHGRLWSDVrWUHLQWHUURPSX6LQRQODEDVHGHGRQQpHVSRXUUDLW
DYRLUFRPPHFRQVpTXHQFHXQPpODQJHGHVYDOHXUVGDQVOHVGHX[PRQQDLHV
/DEDVHGHGRQQpHVGHVWDULIVGRLWrWUHWUDLWpVHXOHPHQWXQHIRLV
6LXQHPrPHEDVHGHGRQQpHVGHVWDULIVDpWpWUDLWpHGHX[IRLVRXSOXVOHV
PRQWDQWVVHUDLWGLYLVpSDUOHWDX[GHFRQYHUVLRQjSOXVLHXUVUHSULVHV
,OHVWUHFRPPDQGpG
DYRLUXQHVDXYHJDUGHGHVILFKLHUVTXLVHURQWWUDLWpVDILQGH
OHVUpFXSpUHUHQFDVG·XQHH[pFXWLRQQRQGpVLUpH
&RQGLWLRQV
/
(XUR&RQYHUWHUHVWEDVpVXUGHVFRPSRVDQWVGpMjLQVWDOOpVSDUO·DSSOLFDWLRQ&RGH%RRN&RQILJXUDWLRQ7RRO
,OGRLWrWUHH[pFXWpGDQVXQ3&VXUOHTXHOO·RXWLO&RGH%RRN&RQILJXUDWLRQ7RROHVWGpMjLQVWDOOp
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
,QVWDOODWLRQ
/
(XUR&RQYHUWHUHVWXQILFKLHUH[pFXWDEOHVLPSOHHWQ
H[LJHSDVG·LQVWDOODWLRQ&RSLH]VHXOHPHQWOHILFKLHU
G
(XUR&RQYH[HGDQVOHILFKLHU687,/GHO·DSSOLFDWLRQ6RIWZDUH0LJUDWLRQ.LWGpMjLQVWDOOp
(XUR&RQYHUWHUH[H
([pFXWLRQ
([pFXWH]OHILFKLHU(XUR&RQYH[H(QFDVGHSUREOqPHVHQH[pFXWDQWO
(XUR&RQYHUWHUGpVLQVWDOOH]HW
UpLQVWDOOH]O·RXWLO&RGH%RRN&RQILJXUDWLRQ7RROHWUpH[pFXWH]O
(XUR&RQYHUWHU
•
8QHIRLVTXHOHSURJUDPPHHVWH[pFXWpODIHQrWUHSULQFLSDOHDSSDUDvWFRPPHPRQWUpFLGHVVRXV
•
&OLTXH]VXUOHERXWRQjGURLWHGH7DULIV)ROGHUHWODIHQrWUHVXLYDQWHDSSDUDvW
•
6pOHFWLRQQH]OHILFKLHUGHV7DULIVDSSURSULpVH[)5$1&(FOLTXH]VXU2.ODIHQrWUHVXLYDQWHDSSDUDvW
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
•
6pOHFWLRQQH]ODGHYLVHVRXUFHHWFOLTXH]VXU2.SRXUFRPPHQFHUOHSURFHVVXVGHFRQYHUVLRQ
/HSURFHVVXVHVWODQFpLPPpGLDWHPHQWHWVDGXUpHSHXWFKDQJHUVHORQODWDLOOHGHVILFKLHUVjFRQYHUWLU
8QHIRLVTXHOHSURFHVVXVHVWWHUPLQpVDQVHUUHXUVOHPHVVDJH&RQYHUVLRQILQLVKHGVXFFHVVIXOO\ DSSDUDvW
VXUOHF{WpLQIpULHXUJDXFKHGHODIHQrWUHHWOHERXWRQ2.HVWGpVDFWLYpDILQG
pYLWHUOHUHWUDLWHPHQWGHV
GRQQpHVFRPPHLQGLTXpFLGHVVRXV
•
• )HUPH]ODIHQrWUH/HVWDEOHVGHWDULIVVRQWPDLQWHQDQWFRQYHUWLHVHQ(8526HWLOHVWQpFHVVDLUHGHOHV
FRPSLOHUHWGHOHVFKDUJHUGDQVO
(OLWHFRVW3RXUOHVGpWDLOVFRQFHUQDQWFHVH[pFXWLRQVYHXLOOH]VH
UDSSRUWHUDXPDQXHOXWLOLVDWHXUGH6RIWZDUH0LJUDWLRQ.LW
&RPSLODWLRQGHV7DEOHVGHWDULIVHQ(XURV
8QHIRLVTXHOHVWDEOHVGHWDULIVVRQWHQ(852LOHVWQpFHVVDLUHGHOHVFRPSLOHUDILQG·RWHQLUXQILFKLHU7$5TXL
FRQWLHQWO·LQIRUPDWLRQGXSODQGHWDULILFDWLRQ&HILFKLHU7$5HVWWpOpFKDUJHDEOHGDQVO·(OLWHFRVW
3RXUFHODVpOHFWLRQQH]OHPHQX*HQHUDWHGDQVOHSURJUDPPH6RIZDUH0LJUDWLRQ.LWSXLV7DULI&RPSLOHU
3RXUGHVWpWDLOVDXVXMHWGHO·DSSOLFDWLRQUpIpUH]YRXVDXPDQXHOG·XWLOLVDWLRQ
&KDUJHPHQWGXILFKLHU7$5GDQVO
(OLWHFRVW
3RXUFKDUJHUOHILFKLHU7$5GDQVO
(OLWHFRVW*XHVWO
DSSOLFDWLRQVHVHUWGXILFKLHU(OLWHFRVW*XHVW
/RDGHU
3RXUGHVGpWDLOVDXVXMHWGHO
DSSOLFDWLRQUpIpUH]YRXVDXPDQXHOG
XWLOLVDWLRQ
(QSOXVGHVFKDQJHPHQWVGpFULWVFLGHVVXVG·DXWUHVPRGLILFDWLRQVVRQWjIDLUHGDQVO
(OLWHFRVW
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
XUR
ELITECOST 20
&RQILJXUDWLRQjO· XUR
0RGLILFDWLRQVGHVFRQILJXUDWLRQVGDQVO·(OLWHFRVW
4XHOTXHVFKDQJHPHQWVGDQVO·DSSDUHLOVRQWQpFHVVDLUHV
,OVVRQWGpWDLOOpVFLDSUqV
'pFRQQHFWH]O·(OLWHFRVWGX3$%;SRXUpYLWHUGHUHFHYRLUGHVHQUHJLVWUHPHQWVG
DSSHOGXUDQWOHVPRGLILFDWLRQV
)DLWHVOHVFKDQJHPHQWVDXQLYHDXGX3$%;$OFDWHOG·DSUqVOHVLQIRUPDWLRQVIRXUQLHVSRXU
O
DGDSWDWLRQjO·(852
(QWUH]GDQVOHPHQXGHFRQILJXUDWLRQ
352*5
/(027'(3$66((17(5
&2876
&KRLVLVVH]O·RSWLRQ0RQQDLHSRXUFKDQJHUOHQRPGHODGHYLVH
0211$,(
QRXYHOOHYDOHXU!(17(5
127(/DVpTXHQFHSRXUHQWUHUOHPRW(85HVWÇÇÇ
(1)
6LYRXVYRXOH]PHWWUHjMRXUHQWDQWTXHGHX[LqPHGHYLVHO·DQFLHQQHPRQQDLHQDWLRQDOHDILQ
G·DYRLUXQHYXHDSSUR[LPDWLYHGHVYDOHXUVpTXLYDOHQWHVHQPRQQDLHQDWLRQDOH
FKRLVLVVH]O·RSWLRQ0211$,(SXLVFKDQJHUOHQRPHQFRQVpTXHQFH
0211$,(
QRXYHOOHYDOHXU> (17(5
(QWUH]OHQRXYHDXWDX[HQWUHOHVGHX[GHYLVHVO
LQYHUVHGXWDX[GHFRQYHUVLRQHQFKRLVLVVDQW
O
RSWLRQGDQVOHPHQX
7$8;
QRXYHOOHYDOHXU> (17(5
&KRLVLVVH]O
RSWLRQ$5521',HWXWLOLVH]ODWRXFKH352*5SRXUEDVFXOH]ODYDOHXU
121&HFLDSRXUEXWG·DIILFKHUGHV&(176GDQVOHVWDULIV
$5521',
121
OH&RQVHLO(XURSpHQLQGLTXHTXHOHVWDX[LQYHUVHVGpULYpHVGHVWDX[GHFRQYHUVLRQQHVHURQWSDV
XWLOLVpVVXLWHDX[GpULYHVGHSUpFLVLRQGDQVOHVFDOFXOV
0DLQWHQDQWVHORQOHPRGHGHWD[DWLRQVXUOHTXHOYRWUHV\VWqPHIRQFWLRQQHFKRLVLVVH]ODWDEOH
JDXFKHODWDEOHGURLWHRXOHVGHX[YRLUFLDSUqV
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
3RXUV\VWqPHVIRQFWLRQQDQWHQPRGH0,;7(
H[pFXWH]OHVGHX[
3RXU(OLWHFRVWIRQFWLRQQDQWHQPRGH7$;(6
3RXU(OLWHFRVWIRQFWLRQQDQWHQPRGH'85((
(QWUH]GDQVOH0HQXGHVSDUDPqWUHVGHFR€W
352*5
0RWGHSDVVH(17(5
&2876
&KRLVLVVH]OHSUL[GHODYDOHXUGHODWD[H
O
(OLWHFRVWQ
XWLOLVHSDVGHWDEOHVGHWDULIVLOQ
HVW
GRQFSDVFRQFHUQpV
9$/(857$;(
QRXYHOOHYDOHXU!(17(5
5HOLH]OHV\VWqPHDX3$%;SRXUFRPPHQFHUO·HQUHJLVWUHPHQWGHVDSSHOV
7RXVOHVFKDQJHPHQWVVRQWWHUPLQpV
q
9pULILFDWLRQGHVFKDQJHPHQWV
3RXUYpULILHUTXHWRXVOHVFKDQJHPHQWVRQWpWpIDLWVFRUUHFWHPHQWQRXVYRXVUHFRPPDQGRQVGHIDLUHOHV
HVVDLVVXLYDQWV
0HWWH]O·(OLWHFRVWHQ´)LOGHO·HDXµHQFKRLVLVVDQWOH0HQX
35,17
)LOGHO·HDX
(IIHFWXH]XQDSSHO
6LO
DSSHOHVWLPSULPpHWTXHVRQWDULIHVWFRUUHFWFHODVLJQLILHTXHWRXWIRQFWLRQQHWUqVELHQHWTXHOH
FKDQJHPHQWDpWpIDLWDYHFVXFFqV
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
XUR
ELITECOST 64 / 128
ENTREPRISE
&RQILJXUDWLRQjO· XUR
0RGLILFDWLRQVGHVFRQILJXUDWLRQVGHO·(OLWHFRVW
3RXUXQERQIRQFWLRQQHPHQWGHYRWUH(OLWHFRVWjO
(852LOHVWQpFHVVDLUHGHIDLUHTXHOTXHVFKDQJHPHQWV
&HUWDLQVG
HQWUHHX[GpSHQGHQWGXPRGHGHWD[DWLRQ7$;('85e(RX0,;7(
,OVVRQWGpWDLOOpVFLDSUqV
6LYRXVXWLOLVH]GHV&RGHV$IIDLUHVIDFWXUH]OHVWRXV3RXUSURFpGHUFKRLVLVVH]
&21),*85$7,21
OHPRWGHSDVVH(17(5
25*$1,6$7,21
&$))$,5(6
FKRLVLVVH]OH1ƒ&RGH$IIDLUHVjIDFWXUHUHQSUHVVDQWOHVWRXFKHVHW!!
$SSX\H]VXUODWRXFKH
)DFWXUHU
5pSpWH]O·RSpUDWLRQSRXUFKDTXH&RGH$IIDLUHVjIDFWXUHU
'pFRQQHFWH]O·(OLWHFRVWGX6\VWqPHSRXUpYLWHUGHUHFHYRLUGHVHQUHJLVWUHPHQWVG
DSSHOGXUDQWOHV
PRGLILFDWLRQV
)DLWHVOHVFKDQJHPHQWVDXQLYHDXGX3$%;$OFDWHOG·DSUqVOHVLQIRUPDWLRQVIRXUQLHVSRXU
O
DGDSWDWLRQjO·(852
(QWUH]GDQVOHPHQXGHFRQILJXUDWLRQRTXHOTXHVFKDQJHPHQWVVHURQWIDLWV
&21),*85$7,21
OHPRWGHSDVVH(17(5
7$;$7,21
3$5$075$,7(0(17
&KRLVLVVH]O·RSWLRQ0RQQDLHSRXUFKDQJHUOHQRPGHODGHYLVHGXV\VWqPH
0211$,(
QRXYHOOHYDOHXU!(17(52.VLVLYRXVQHGpVLUH]SDVHQWUHUODPRQQDLH
127(/DVpTXHQFHSRXUHQWUHUOHPRW(85HVWÇÇÇ
6LYRXVYRXOH]PHWWUHjMRXUHQWDQWTXHGHX[LqPHGHYLVHO·DQFLHQQHPRQQDLHQDWLRQDOHDILQ
G·DYRLUXQHYXHDSSUR[LPDWLYHGHVYDOHXUVpTXLYDOHQWHVHQPRQQDLHQDWLRQDOH
FKRLVLVVH]O·RSWLRQ0211$,(SRXUFKDQJHUOHQRPHQFRQVpTXHQFH
0211$,(
QRXYHOOHYDOHXU> (17(5
(QWUH]OHQRXYHDXWDX[HQWUHOHVGHX[GHYLVHVO
LQYHUVHGXWDX[GHFRQYHUVLRQHQFKRLVLVVDQW
O
RSWLRQGDQVOHPHQX
7$8;
QRXYHOOHYDOHXU> (17(5
&KRLVLVVH]O
RSWLRQ$5521',HWSURJUDPPH]ODDXFHQWLqPHSUqV
&HFLDSRXUEXWG·DIILFKHUGHV&(176GDQVOHVWDULIV
$5521',
(17(52.
OH&RQVHLO(XURSpHQLQGLTXHTXHOHVWDX[LQYHUVHVGpULYpHVGHVWDX[GHFRQYHUVLRQQHVHURQWSDV
XWLOLVpVVXLWHDX[GpULYHVGHSUpFLVLRQGDQVOHVFDOFXOV
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
0DLQWHQDQWVHORQOHPRGHGHWD[DWLRQVXUOHTXHOYRWUHV\VWqPHIRQFWLRQQHFKRLVLVVH]ODWDEOH
JDXFKHODWDEOHGURLWHRXOHVGHX[YRLUFLDSUqV
3RXUV\VWqPHVIRQFWLRQQDQWHQPRGH0,;7(
H[pFXWH]OHVGHX[
3RXU(OLWHFRVWIRQFWLRQQDQWHQPRGH7$;(6
3RXU(OLWHFRVWIRQFWLRQQDQWHQPRGH'85((
(QWUH]GDQVOH0HQXGHVSDUDPqWUHVGHFR€W
&21),*85$7,21
OHPRWGHSDVVH(17(5
7$;$7,21
3$5$075$,7(0(17
&KRLVLVVH]OHSUL[GHODYDOHXUGHODWD[H
7pOpFKDUJH]OHQRXYHDXSODQGHWDULILFDWLRQHQ
(852VHORQOHVLQVWUXFWLRQVUHFRPPDQGpHVDX
SDUDJUDSKH
9$/7$;(
QRXYHOOHYDOHXU!(17(52.
5HOLH]OHV\VWqPHDX3$%;SRXUFRPPHQFHUO·HQUHJLVWUHPHQWGHVDSSHOV
7RXVOHVFKDQJHPHQWVVRQWWHUPLQpV
q
9pULILFDWLRQGHVFKDQJHPHQWV
3RXUYpULILHUTXHWRXVOHVFKDQJHPHQWVRQWpWpIDLWVFRUUHFWHPHQWQRXVYRXVUHFRPPDQGRQVGHIDLUHOHV
HVVDLVVXLYDQWV
0HWWH]O·(OLWHFRVWHQ´)LOGHO·HDXµHQFKRLVLVVDQWOH0HQX
&2168/7$7,216
7(0365((/RX),/'(/·($8
35,;+7
7286
'(67 7286
'85(( 7286
2.
,035/2&$/(
2.
(IIHFWXH]XQDSSHO
6LO
DSSHOHVWLPSULPpHWTXHVRQWDULIHVWFRUUHFWFHODVLJQLILHTXHWRXWIRQFWLRQQHWUqVELHQHWTXHOH
FKDQJHPHQWDpWpIDLWDYHFVXFFqV
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
XUR
ELITECOST GUEST
(Version HOTEL)
&RQILJXUDWLRQjO· XUR
0RGLILFDWLRQVGHVFRQILJXUDWLRQVGHO·(OLWHFRVW
3RXUXQERQIRQFWLRQQHPHQWGHYRWUH(OLWHFRVWjO
(852LOHVWQpFHVVDLUHGHIDLUHTXHOTXHVFKDQJHPHQWV
&HUWDLQVG
HQWUHHX[GpSHQGHQWGXPRGHGHWD[DWLRQ7$;(6'85e(RX0,;7(
,OVVRQWGpWDLOOpVFLDSUqV
)DFWXUH]WRXWHVOHVFKDPEUHV1RXVVXJJpURQVGHOHIDLUHDXPR\HQGHVRSWLRQVGHJURXSH
*(67,21&/,(176
237,216'(*5283(
)$&785(5
6(59,&(
*DUGH]FHVWLFNHWVDILQGHIDFWXUHUYRVFOLHQWVSOXVWDUG
(IIHFWXH]XQ&KHFNRXWSRXUWRXVOHVSRVWHVGHFKDPEUH
9HUVLRQVHXOHPHQW
*DUGH]FHVWLFNHWVDILQG
HQUHJLVWUHUjQRXYHDXOHVGpS{WVDSUqVO·RSpUDWLRQGH&KHFNLQTXDQGODPLVH
jMRXUGXSURFHVVXVHVWWHUPLQpH
'pFRQQHFWH]O·(OLWHFRVWGX6\VWqPHSRXUpYLWHUGHUHFHYRLUGHVHQUHJLVWUHPHQWVG
DSSHOGXUDQWOHV
PRGLILFDWLRQV
)DLWHVOHVFKDQJHPHQWVDXQLYHDXGX3$%;$OFDWHOG·DSUqVOHVLQIRUPDWLRQVIRXUQLHVSRXU
O
DGDSWDWLRQjO·(852
)DLWHVXQpWDWGH5HOHYpGH3HUVRQQHOHQFKRLVLVVDQWO
RSWLRQ
*(67,21&/,(176
5(/(9('(3(56211(/
)DLWHVXQpWDWGH3URGXFWLRQj=pURYHUVLRQ+{WHO
/,67(
352'8&7,21$=(52
(QWUH]GDQVOHPHQXGHFRQILJXUDWLRQRTXHOTXHVFKDQJHPHQWVVHURQWjIDLUH
&21),*85$7,21
OHPRWGHSDVVH(17(5
7$;$7,21
3$5$075$,7(0(17
&KRLVLVVH]O·RSWLRQ0RQQDLHSRXUFKDQJHUOHQRPGHODGHYLVHGXV\VWqPH
0211$,(
QRXYHOOHYDOHXU!(17(52.VLVLYRXVQHGpVLUH]SDVHQWUHUODPRQQDLH
127(/DVpTXHQFHSRXUHQWUHUOHPRW(85HVWÇÇÇ
6LYRXVYRXOH]PHWWUHjMRXUHQWDQWTXHGHX[LqPHGHYLVHO·DQFLHQQHPRQQDLHQDWLRQDOHDILQ
G·DYRLUXQHYXHDSSUR[LPDWLYHGHVYDOHXUVpTXLYDOHQWHVHQPRQQDLHQDWLRQDOHFKRLVLVVH]O·RSWLRQ
0211$,(SRXUFKDQJHUOHQRPHQFRQVpTXHQFH
0211$,(
QRXYHOOHYDOHXU> (17(5
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
(QWUH]OHQRXYHDXWDX[HQWUHOHVGHX[GHYLVHVO
LQYHUVHGXWDX[GHFRQYHUVLRQHQFKRLVLVVDQW
O
RSWLRQGDQVOHPHQX
7$8;
QRXYHOOHYDOHXU> (17(5
&KRLVLVVH]O
RSWLRQ$5521',HWSURJUDPPH]ODDXFHQWLqPHSUqV
&HFLDSRXUEXWG·DIILFKHUGHV&(176GDQVOHVWDULIV
$5521',
(17(52.
OH&RQVHLO(XURSpHQLQGLTXHTXHOHVWDX[LQYHUVHVGpULYpHVGHVWDX[GHFRQYHUVLRQQHVHURQWSDV
XWLOLVpVVXLWHDX[GpULYHVGHSUpFLVLRQGDQVOHVFDOFXOV
3RXUFKDTXHW\SHGHVHUYLFHGH&+$0%5(6RXGH&$%,1(6IL[H]OHVQRXYHOOHVOLPLWHVGHEpQpILFHHQ
(8526YRLUOHPDQXHOG
XWLOLVDWHXU
&21),*85$7,21
25*$1,6$7,21
6(59,&(6
&,1,7,$/
%/2&
%/2&
%/2&
0HWWH]HQ(8526VHORQYRVEHVRLQVOHVSDUDPqWUHVGHFR€WGHVpWDWVSUpGpILQLVTXLVHUDSSRUWHQWjGHV
TXDQWLWpVGDQVO·DQFLHQQHPRQQDLHQDWLRQDOHYRLUOHPDQXHOG
XWLOLVDWHXU
&21),*85$7,21
5(/(9(6
35,;+7
7$;(6
35,;+7
7$;(6
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G
0DLQWHQDQWVHORQOHPRGHGHWD[DWLRQVXUOHTXHOYRWUHV\VWqPHIRQFWLRQQHFKRLVLVVH]ODWDEOH
JDXFKHODWDEOHGURLWHRXOHVGHX[YRLUFLDSUqV
3RXUV\VWqPHVIRQFWLRQQDQWHQPRGH0,;7(
H[pFXWH]OHVGHX[
3RXU(OLWHFRVWIRQFWLRQQDQWHQPRGH7$;(6
3RXU(OLWHFRVWIRQFWLRQQDQWHQPRGH'85((
(QWUH]GDQVOH0HQXGHVSDUDPqWUHVGHFR€W
&21),*85$7,21
OHPRWGHSDVVH(17(5
7$;$7,21
3$5$075$,7(0(17
&KRLVLVVH]OHSUL[GHODYDOHXUGHODWD[H
7pOpFKDUJH]OHQRXYHDXSODQGHWDULILFDWLRQHQ
(852VHORQOHVLQVWUXFWLRQVUHFRPPDQGpHVDX
SDUDJUDSKH
9$/7$;(
QRXYHOOHYDOHXU!(17(52.
5HOLH]OHV\VWqPHDX3$%;SRXUFRPPHQFHUO·HQUHJLVWUHPHQWGHVDSSHOV7RXVOHVFKDQJHPHQWVVRQWWHUPLQpV
q
9pULILFDWLRQGHVFKDQJHPHQWV
3RXUYpULILHUTXHWRXVOHVFKDQJHPHQWVRQWpWpIDLWVFRUUHFWHPHQWQRXVYRXVUHFRPPDQGRQVGHIDLUHOHV
HVVDLVVXLYDQWV
YHUVLRQIDLWHVXQFKHFNLQG·XQHFKDPEUHVDQVDVVLJQHUGHGpS{W9RLUQRWH
YHUVLRQIDLWHVXQFKHFNLQG·XQHFKDPEUHHQDVVLJQDQWXQGpS{WHQ(8529RLUQRWH
)DLWHVXQDSSHOjSDUWLUGHFHWWHFKDPEUH
$VVLJQH]XQVXSOpPHQWjFHWWHFKDPEUHHQ(8526
)DLWHVXQFKHFNRXW
9pULILH]TXHWRXWHVOHV]RQHVGDQVODIDFWXUHVRQWFRUUHFWHV
6LOHVIUDLVGDQVODIDFWXUHVRQWFRUUHFWVIDLWHVXQFKHFNLQSRXUWRXVOHVSRVWHVGRQWOHFKHFNRXWD
pWpIDLWDXGpEXWGHFHWWHSURFpGXUH3RXUODYHUVLRQVHXOHPHQWHQWUH]HQIDLVDQWOHFKHFNLQOHV
PRQWDQWVGHGpS{WHQ(8526TXLDSSDUDLVVHQWGDQVOHVWLFNHWVGXFKHFNRXWSUpFpGHQWVXWLOLVH]
VHXOHPHQWOHVFKLIIUHVGHQRPEUHHQWLHU9RLUOHVQRWHV
q
$SUHQGUHHQFRQVLGpUDWLRQ
$SUqVOHFKDQJHPHQWGHYRWUHV\VWqPHjO
HXURYRXVGHYH]WHQLUFRPSWHGHVSRLQWVVXLYDQWV
$SUqVO·RSpUDWLRQGHPLVHjMRXULO\DXUDGHX[IDFWXUHVSRXUFKDTXHSRVWH
OHSUHPLHUYLHQWGXFKHFNRXWDYDQWODPLJUDWLRQDYHFGHVWRWDX[GDQVODPRQQDLHQDWLRQDOH
HWXQHLQIRUPDLRQHQ(852
OHVHFRQGHQ(8526TXDQGOHFKHFNRXWGXSRVWHHVWHIIHFWXpSRXUODSUHPLqUHIRLVDSUqVOD
PLJUDWLRQDYHFGHVWRWDX[HQ(8526DYHFO
LQIRUPDWLRQGDQVODYLHLOOHPRQQDLHQDWLRQDOHVL
FRQILJXUp
/HVGpS{WV'2,9(17rWUHHQWUpVHQ(8526jSDUWLUGXSRVWH2SpUDWHXU9RLUOHVQRWHV
/HVVXSSOpPHQWV'2,9(17rWUHHQWUpVHQ(8526
1RWH/HVGpS{WVQHVRQWSDVVXSSRUWpVGDQVODYHUVLRQ
1RWH$XFXQHGpFLPDOHQ
HVWDFFHSWpH
)LQGXGRFXPHQW
3URGXLW(OLWHFRVW
$UWLFOH1ƒ(G