Hilton Worldwide completed its split into three independent companies this week as part of an effort to lower the company’s taxes and boost value to shareholders.

The new real estate and timeshare spinoffs — Park Hotels & Resorts and Hilton Grand Vacations — debuted on the New York Stock Exchange on Wednesday with mixed results. The long-term hope, according to company executives, is to create more efficient companies, each with its own objectives and goals.

Source: The Washington Post