| TORONTO, ONTARIO (Sept. 14, 1998) � Toronto-based Vinings
Franchise Systems (VFS) and VR Business Brokers have entered into an alliance
to develop Microtel Inn & Suites in the greater Toronto area and across
Ontario. Microtel is the fastest growing chain of all newly constructed,
inside corridor, budget hotels in North America.
According to Klaus J. Henck, president and chief operating officer of
VFS, VR Business Brokers will "This represents 40 percent of the total hotels being developed in city, highway, airport and resort locations in Canada over the next three years," said Henck. "The Microtel product is right for the needs of today's traveling public. In addition, with the high percentage of loan to value funding available through VFS to qualified franchisees, owning a Microtel Inn is a very attractive investment." Under terms of the agreement, VR Business Brokers' 15 offices and more than 40 agents in Ontario will work with VFS to develop contracts with investors, partners, builders, developers, real estate owners and franchisees. Richard Brinkley of Brinkley King Acquisitions, commented, "Our familiarity and knowledge of the local business markets will provide VFS with the necessary business partners to match the company's aggressive growth plans for Canada." VFS owns the franchise system rights for Microtel Inn and Suites under a master licensing agreement for Canada between VFS and Atlanta-based U.S. Franchise Systems (Nasdaq: USFS). With offices in Toronto, Vancouver and Atlanta, the company was formed to spearhead Microtel's development in Canada and plans rapid development first in the Toronto metropolitan area, then on to Ontario, Quebec and western Canada. Microtel properties are also in the works for the country's major airports. Microtel is an industry leader in budget hotels of the future. All its properties are newly constructed and offer guests quality, value, safety and comfort with chiropractic-approved mattresses, remote cable TV, CNN and ESPN/TSN, and complimentary morning coffee. As of July 14, there were 152 Microtels open or under construction, and an additional 352 under development. |
locate
building sites and present VFS to prospective franchisees to develop 30
or more Microtel Inn & Suites properties across Ontario by the year
2001. VR Business Brokers is a division of Toronto-based Brinkley
King Acquisitions, Inc.