James Franco to Host Top-Secret After-Party on Oscars Night

James Franco's Secret Oscar party
James Franco
Frazer Harrison/Gett

02/01/2011 AT 07:45 AM EST

Co-hosting the Academy Awards might not even be the most exciting part of James Franco's night on Feb. 27.

Franco, who is also nominated for Best Actor (in 127 Hours), reveals to Canadian show etalk that he will be capping off the evening by hosting – and performing at – an ultra-exclusive after-party at very special place.

"I'm a partner in a bar that's opening up, and the after-after-after-after-party is going to be at my new bar," the actor, 32, said this weekend at the Santa Barbara International Film Festival. "It's at a secret location. And that's what I'm looking forward to because I'm going to be singing there at the bar. I'll be singing at the Oscars, but there will be a private performance at my new bar."

Sounds like the night's hot ticket. But Franco is being tight-lipped with the details.

"It's called the Writer's Room," he says. "It's in L.A. That's all I can say because I can't fit everybody. Everybody at the Governors Ball will not fit into my new bar, but it'll be going down."

Franco adds that he is bringing his brother Dave with him to the Oscars, and says preparations with co-host Anne Hathaway are going well.

"The Oscars are a very well produced show and [there's] a big machine behind it, and I think Anne and I fit really well in it," he says. "She probably fits better than I do, but I'm trying to catch up."

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