In late 2004, Realstar co-led a consortium that also included Lehman Brothers Real Estate Partners and GIC Real Estate (a subsidiary of the government of Singapore) in a £1-billion acquisition of 73 Holiday Inn and Crowne Plaza properties (approximately 13,000 rooms) in the United Kingdom. The transaction, the largest of its type in the U.K., was completed in May 2005.

InterContinental Hotels Group Plc, the seller, continues to manage and brand the properties. Realstar is the operating partner and, through our U.K. asset management operations, we represent the interests of the ownership consortium.

In 2003, Realstar entered a strategic relationship with the international hotel group Accor SA of France. Under the terms of the agreement, we acquired the master franchise rights for the Motel 6™ and Studio 6™ hotel brands in Canada. With a combined total of 20 Motel 6 and Studio 6 locations in Canada, plans are underway to franchise another 25 new Accor hotels by 2015.

Motel 6 locations across Canada

In 1992, Realstar acquired Canadian master franchise rights to Days Inn from Hospitality Franchise Systems (now Wyndham Worldwide). Under our stewardship, this mid-market economy brand has grown from 16 hotels to over 90 properties across Canada (expected to be 100 properties by the end of 2011). Key to this rapid expansion was our creation of two new construction prototypes inclusive of interior design concepts.

Days Inn locations across Canada