(Corrected on Jan. 13 to remove an incorrect title, starting in the first paragraph.)
G6 Hospitality CEO Rob Palleschi is departing the Texas-based hotel company after five years in the role.
Effective Thursday, President and Chief Financial Officer Julie Arrowsmith assumes the role of president and interim CEO, according to a company news release.
Arrowsmith has held various leadership roles across the G6 organization during her 28-year career.
"It is a privilege to take on this additional responsibility as we position G6 for continued growth," Arrowsmith said in the release. "We have an incredibly strong team in place across the organization, and I look forward to continuing our work to support our franchise partners and deliver exceptional value for our guests."
Palleschi will join student housing manager, owner and developer American Campus Communities as CEO, effective Jan. 17.
Both G6 Hospitality and American Campus Communities are owned by Blackstone. G6 franchises more than 1,400 economy lodging locations under the Motel 6 and Studio 6 brands across the U.S. and Canada.
Rob Harper, head of Real Estate Asset Management Americas at Blackstone, said in a release, "We are confident the business will see a new level of success under [Arrowsmith's] leadership. I want to extend my sincerest thanks to Rob for his years of dedication and stewardship. He has been invaluable to the company, and we know this will be a seamless transition for team members, franchisees and guests alike."