Atlanta-based InTown Suites announced Friday that President and Chief Executive Officer Scott Griffith is stepping down, and Chief Financial Officer Dennis Cassel will take over as president on Jan. 1.

Griffith has been president and CEO of the extended stay hotel chain for nearly 10 years. Cassel has been with the company for nearly nine years.

The company, which has more than 1,100 employees, was acquired by the private investment firm Starwood Capital Group in June.

The extended stay hotel’s rooms are set up like efficiency apartments for weekly accommodations. The chain, founded in 1989, has grown to 138 locations in 21 states.