Interstate Hotels & Resorts Receives Continued Listing Standards Notice from NYSE
DECEMBER 3, 2008. Interstate Hotels & Resorts (NYSE: IHR), a leading hotel real estate investor and the nation's largest independent management company, today announced that it had received notice from the New York Stock Exchange that its stock had fallen below one of the Exchange's continued listing standards for common stock. That standard requires that a stock maintain a minimum average closing price of $1.00 per share over 30 consecutive trading days.
Under NYSE rules, the company has a period of six months, subject to possible extension, to bring its 30-day average share price back above $1.00. The company's common stock will continue to be listed on the NYSE during the cure period, subject to compliance with other NYSE continued listing requirements. The company plans to notify the NYSE that it intends to cure the deficiency. During this six-month cure period, the NYSE will assign a ".BC" to the company's ticker symbol indicating the company is below the continued listing criteria.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
