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SOURCE Starwood Capital Group
Chief Financial Officer to Replace Outgoing President and CEO Scott Griffith
ATLANTA, Dec. 20, 2013 /PRNewswire/ -- InTown Suites today announced that Scott Griffith, President and Chief Executive Officer of the company, has decided to step down from his position effective December 31, 2013. Current Chief Financial Officer Dennis Cassel will assume leadership of the company in the additional role of President as of January 1, 2014.
Mr. Griffith has served as the President and Chief Executive Officer of InTown Suites for nearly 10 years, overseeing a number of key growth initiatives focused on increasing occupancy throughout the company's portfolio of extended-stay properties. Most recently, he played an instrumental role in the company's acquisition by Starwood Capital Group, a leading private investment firm focused on real estate, in June.
Mr. Cassel has served as a member of InTown Suites leadership team for almost nine years overseeing the Company's finances. He also has been a key leader in the company's acquisition, pricing and capital strategies.
"Scott has been a strong leader for InTown for nearly a decade now, successfully guiding the company through significant market challenges. We wish him all the best in his future endeavors," said Steve Hankin, Managing Director at Starwood Capital Group. "Dennis is a talented executive with an impressive track record at InTown Suites, and we look forward to working with him to continue to implement many of our exciting strategic initiatives to grow the company."
About InTown Suites
InTown Suites is the leader in economy Extended-Stay Living. The company started in Atlanta, GA in 1989 with just a few properties. Since that time, it has grown to 138 locations in 21 states with over 17,900 rooms and employing over 1100 people.
About Starwood Capital Group
Starwood Capital Group is a private, U.S.-based investment firm with a core focus on global real estate. Since the group's inception in 1991, the firm has raised over $22 billion of equity capital and acquired over $45 billion in assets. Starwood Capital Group currently has $32 billion of assets under management. Starwood Capital Group maintains offices in Greenwich, Atlanta, San Francisco, Washington, D.C., Los Angeles, Chicago and Miami, and affiliated offices in London, Luxembourg, Paris, Frankfurt and Sao Paulo. Starwood Capital Group has invested in nearly every class of real estate on a global basis, including office, retail, residential, senior housing, golf, hotels, resorts and industrial assets. Starwood Capital Group and its affiliates have successfully executed an investment strategy that includes building enterprises around core real estate portfolios in both the private and public markets. Additional information about Starwood Capital can be found at www.starwoodcapital.com.
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