In May 2006, Cendant Timeshare Resort Group, Inc. was renamed Wyndham Vacation Ownership, Inc. In August 2006, Cendant split into four separate companies -- Realogy for the real estate firms, Wyndham Worldwide Corp. (which included Trendwest as a part of Wyndham Vacation Ownership, Inc.) for the timeshare and hotel companies, Travelport for the travel distribution companies, and Avis-Budget Group for the car rentals. The official line is that Cendant had become too big to be managed profitably. Scuttlebutt is that it may have had more to do with getting rid of the Cendant name and reputation after convictions on fraudulent accounting practices ( See CNN: Cendant settles for 2.93 BILLION and USA Today: Cendant ex-chairman found guilty).