By Dave Sebastian

 

Marriott International Inc. said it plans to withdraw its stock from listing on the NYSE Chicago stock exchange, effective Sept. 20, to reduce administrative costs and requirements.

The world's largest hotel company, which will continue to trade on Nasdaq, said NYSE Chicago will suspend its stock trading before the market opens on Sept. 21.

The move comes as the company weathers the coronavirus pandemic. It recently posted its largest quarterly loss ever.

Shares fell 0.5% in premarket trading after closing Friday at $106.25.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

August 31, 2020 08:54 ET (12:54 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.