In the first five years of this venture, Realstar's plan is to franchise 20 Novotel, 30 Motel 6 and 10 Studio 6 hotels.   Realstar estimates the value of hotel development to be in excess of $500 million over this five-year phase. City-centre conversions and new construction will take place across Canada.  Realstar and Accor will develop a new

Georges Le Mener (right), president and CEO of Accor North America, and Jonas Prince, chairman of Realstar Group (Realstar Group/Derek Oliver)

"The Canadian hospitality sector is ripe with opportunities," said Jonas Prince, chairman of Realstar Group.  "We plan to continue the growth of the Motel 6 and Studio 6 brands based on the new construction prototype Accor has successfully introduced in Canada.  These brands will become industry leaders in Canada, known for consistency in product and value pricing.  Novotel is a full-service, mid-scale brand.  Our strategy is to focus on highlighting food and beverage in a modern full service hotel setting.  We intend to deliver a memorable guest experience with a product and service that offers the best of Europe adapted to Canada."

"We believe that our brands will have a special appeal to the Canadian consumer," said Georges Le Mener, president and chief executive officer of Accor North America.  "As a proven leader in the Canadian market, Realstar will help us to customize our brands to meet the particular needs of the Canadian traveller."

Novotel is a mid-market, full service hotel brand with a European style that will be adapted to the Canadian market.  There are currently five Novotel properties in Canada:  three in the Greater Toronto Area, one in Ottawa and one in Montreal.  Studio 6 provides travellers with a premium economy, extended-stay hotel option in an all-suite setting.  The first new prototype Studio 6 property recently opened in Mississauga, Ontario.  Motel 6 provides consumers with a true budget brand with no surprises or hidden costs.  There are currently five new Motel 6 properties in the Greater Toronto Area. 

Founded by Jonas Prince and Wayne Squibb in 1974, Realstar Group, with offices in Toronto and London, focuses on strategic investing in the multi-unit residential, hospitality and sports/entertainment sectors.  Realstar has developed a strong entrepreneurial organization noted for its creativity, financial analytical skills and proactive management style.  It holds the master franchise rights to the Days Inn hotel chain in Canada and previously owned and operated Delta Hotels and Resorts.

Headquartered in Dallas, Texas, Accor North America is a division of Accor and operates more than 1,200 upscale and economy properties. Its brands include nationwide economy leaders Red Roof Inns, Motel 6 and Studio 6 and the upscale Sofitel and mid-scale Novotel and Ibis hotel locations in the U.S., Canada and Mexico.