WASHINGTON, D.C. The Wall Street Journal reported that shares of Marriott International dropped late last week nearly 14% off its 52-week high of $47.81, set January 17.
Concerns about a slowing economy have hurt business travel, which affects a big chunk of Marriotts revenues. More than half of the corporate travel managers surveyed in January said their budgets were lower or about the same as they were a year earlier.
Currently, Marriott shares are trading at $41.06. (3/12/01)
Source: The Wall Street Journal