Finance History | 11 Wall Street — One Marriott International Share for Every Marriott Share
· 1993-10
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Finance History | 11 Wall Street — One Marriott International Share for Every Marriott Share
kevin
People treat Host Hotels as a Bethesda lodging REIT that always printed HST after a finished hotel book.
The October 1993 remaining issuer was Marriott Corporation, renamed Host Marriott Corporation the same morning.
On 8 October 1993 it distributed Marriott International Inc. to its holders.
Each Marriott Corporation share received one Marriott International share.
The management and franchise book left.
The real-estate and concessions book stayed and kept trading on the New York Stock Exchange under the letters HMT.
On 29 December 1998 Host Marriott converted to a real estate investment trust.
On 18 April 2006 the letters on that tape became HST after the name Host Hotels and Resorts, Inc.
The mechanism is a 1-for-1 spin that split an operator from an owner and left the owner on the Big Board.
The pin is the Broad Street facade of the Exchange on that 1993 opening.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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