Marriott International has announced it will voluntarily transfer the listing of its common stock to the NASDAQ Global Select Market from the New York Stock Exchange.
Trading of Marriott’s shares on NASDAQ is expected to commence on October 21st, 2013 under its current ticker symbol ‘MAR’.
Marriott will continue to trade on the NYSE until that time.
Marriott’s shares also will continue to trade on the Chicago Stock Exchange after the transfer to NASDAQ.
“We are pleased to partner with NASDAQ as our new stock market listing.
“We believe this will provide us with cost-effective visibility, as well as efficient access to a portfolio of tools and opportunities to reach investors,” said Carl Berquist, Marriott’s executive vice president and chief financial officer.
“While we are looking forward to our new relationship with NASDAQ, the NYSE was our listing home for many years, and they have served us well over that time.”
Marriott is a leading lodging company with more than 3,800 properties across the broadest portfolio of brands in the industry.
Many publicly listed competitors to Marriott trade on the New York Stock exchange including Starwood Hotel & Resorts, Hyatt Hotels, and InterContinental Hotels Group.
Rival Hilton Worldwide filed to go public in September but there has been no hint yet where owner, Blackstone, plans to trade its shares.