Marriott transferring listing to Nasdaq

BETHESDA, Md. Marriott is voluntarily transferring its listing to the Nasdaq Global Select Market from the New York Stock Exchange.

The hotel and timeshare company said that its shares are expected to start trading on the Nasdaq on Oct. 21. Its ticker symbol will remain "MAR." It will continue trading on the New York Stock Exchange until that time.

"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," Carl Berquist, Marriott executive vice president and chief financial officer, said in a statement on Monday.

Marriott International Inc. said that its shares will also continue trading on the Chicago Stock Exchange once the transfer occurs.

Marriott has more than 3,800 properties in 72 countries and territories.

The Bethesda, Md. company's stock fell 46 cents to $42.14 in morning trading.