Consider whether the hassle and cost is worth it to you. If you land at 10:30, by the time you disembark, get your bags, check in at the hotel and get to your room, it's likely midnight. If your flight is at 6:30, you'll need to be at the airport by 5, at the latest, which means you are probably checking out at 4:30. Factor in time to change and shower at the hotel, and you are probably catching three hours of sleep. Did that once with my family, as my daughter was small at the time, and ended up paying close to $300 to stay at the Sheraton for 5 hours.
You might want to look to see if you can buy a pass for the lounges at Pearson. Air Canada has one and I think there is another one that is affiliated with American Express? Comfy chairs. Complimentary food and drinks. Showers. Not having to travel and pay to stay in a hotel. That would be my first choice were I in your shoes.