Hilton plans to transfer its common stock listing from the New York Stock Exchange to Nasdaq, according to a Tuesday news release.
The hotel giant said it expects to begin trading on Nasdaq under its current ticker symbol, HLT, beginning Nov. 5, and it will remain on the NYSE until market close on Nov. 4, per the release. According to Hilton, the move marks the “latest milestone in the company’s evolution as an innovative, fast-growing, capital-efficient hospitality leader.”
In a statement, CEO Chris Nassetta said that Nasdaq is “closely aligned” with Hilton’s growth ambitions. “We look forward to joining a marketplace that is highly respected as the home of many of the world’s most innovative companies,” he added.
Nasdaq is currently home to more than 3,500 listed companies, including many of the “world’s leading technology and innovative companies,” such as Amazon, Meta and Apple, per the stock exchange’s website.
The move to Nasdaq does not alter Hilton’s business strategy, capital allocation properties or commitment to guests, owners, team members and shareholders, according to the company.
Earlier this month, Hilton named Jeff Moore as its new chief technology officer, “further strengthening [Hilton’s] commitment to lead the industry in innovation,” per the release. Moore, formerly vice president of software engineering at Uber, is tasked with advancing the company’s goals around artificial intelligence.
Hilton’s recent AI efforts include the March rollout of a generative AI-powered digital concierge, as well as partnering with Google on hotel booking through AI Mode in Search.
Adena Friedman, chair and CEO of Nasdaq, said in a statement that the tech-heavy exchange is “proud” to welcome Hilton and looks forward to “supporting the company as it builds on its legacy and enters a new chapter."
The transfer also culminates the company’s longtime relationship with the NYSE, which began in 1946 when Hilton became the first hotel company to be listed on the exchange, according to Hilton. In 2007, Blackstone Inc. took the company private in a $26 billion deal, Reuters reported. Hilton returned to the public markets in 2013.
Since 2013, Hilton has grown from 10 brands to 28 and expanded its presence from 90 countries and territories to 144, according to the release.
“We are deeply grateful to the New York Stock Exchange for its longstanding partnership and the important role it has played in our public-company journey,” Nassetta said.
Hilton competitor Marriott International similarly transferred its common stock listing from the NYSE to Nasdaq in 2013, Forbes reported.
