Why Marriott International Stock Climbed in February
Marriott International (NASDAQ: MAR) shareholders were dealt a blow in February when the hotel company announced the unexpected passing of CEO Arne Sorenson. But the company's quarterly results, announced just days later, were a reminder of what a strong business the late CEO helped build.
The strength of those results, coupled with growing optimism that the pandemic will soon be over, helped push shares of Marriott up 27.3% for the month, according to data provided by S&P Global Market Intelligence.
Sorenson had been diagnosed with pancreatic cancer in 2019, and early in February said he would be temporarily reducing his workload, but the death still caught investors off guard. Sorenson had been with Marriott since 1996, serving as CEO since 2012, and was credited with guiding the company through a period of growth that built Marriott into one of the top collections of global hotel brands.
Source Fool.com
