John Peyton has been tapped to serve as president and CEO of the Realogy Franchise Group (RFG) effective April 1.

Peyton succeeds Alex Perriello, long-time CEO of RFG, who will serve in a senior advisory capacity as chairman emeritus for RFG.

RFG is a leading franchisor of real estate brokerages, with brands that include Better Homes and Gardens Real Estate, CENTURY 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby’s International Realty. Collectively, Realogy’s franchise system members operate approximately 13,650 offices with more than 268,000 independent sales associates conducting business in 111 countries and territories around the world.

Peyton joined the company as president and COO in October after spending 17 years as a senior executive with Starwood Hotels & Resorts Worldwide Inc.

“I am committed to driving strategic new growth for the Realogy Franchise Group,” Peyton said in a statement. “We will continue to strive to thoughtfully enhance the value proposition that we deliver for brokers, agents and consumers affiliated with each of our respective franchise brands.”

Perriello said Peyton’s franchising experience and proven leadership make him the perfect choice to head RFG.

Richard A. Smith, Realogy’s chairman, president and CEO, said Peyton has brought a fresh perspective to the company from his tenure as a global branding leader in the hospitality industry.

“I am confident in his ability to continue leveraging his valuable insight on behalf of our leading real estate brands,” Smith said. “He is the right business leader to focus our efforts and execute our plans for continued strategic growth and innovation at the Realogy Franchise Group. John has been working closely with Alex for the past five months, and we expect a smooth leadership transition.”

Smith also lauded Perriello’s mark on the company and the residential real estate industry

“We are deeply grateful to Alex for his visionary leadership and service to Realogy and our franchise brands for the past 34 years,” he said.

During his nearly two decades with Starwood Hotels and Resorts Worldwide, most recently serving as chief marketing officer, Peyton leveraged his expertise in global operations and brand building to drive innovation and build loyalty for the company’s leading hotel brands, including St. Regis, W Hotels and Westin, among others.

Peyton also led Starwood’s Global Initiatives team, where he directed the implementation of key strategic company priorities around the world, including supply chain and revenue management initiatives.

Prior to joining Starwood, he had a 10-year career with PricewaterhouseCoopers, serving in both its accounting and management consulting practices.

Peyton holds a master’s degree in accounting and marketing from New York University and a bachelor’s degree in English from the University of Pennsylvania.