Marriott to Transfer to NASDAQ
Marriott International announced Monday it is voluntarily transferring its common-stock listing from the New York Stock Exchange to the NASDAQ Global Select Market, effective Oct. 21. Until that time, the company will continue to trade on the NYSE. Marriott also will continue to trade on the Chicago Stock Exchange after the move. "We believe this will provide us with cost-effective visibility," said Marriott executive vice president and CFO Carl Berquist, "as well as efficient access to a portfolio of tools and opportunities to reach investors. While we are looking forward to our relationship with NASDAQ, the NYSE was our listing for many years, and they have served us well over that time." Competing lodging companies Hyatt Hotels, InterContinental Hotels Group and Starwood Hotels & Resorts all trade on the New York Stock Exchange.