You heard correctly, from what they told me when I was there this past weekend. Apparently the property owner and Renaissance have decided to part ways (don't know which pulled the plug, though).

If I understood the person correctly, the change takes place at the end of September, so just in the middle of Oktoberfest, when rooms go for a small fortune.

Too bad. I like the place, and will miss it. Maybe the new Courtyard in Haidhausen will take its place in my schedules, or the Munich Marriott, since it's in the same quiet residential district as the Renaissance.