Should be self-explanatory in the context of posts upthread.

Hotel cannot accommodate guest despite confirmed reservation. Hotel then arranges accommodation for the guest at another hotel.

A hotel should never walk an "elite", VIP, or otherwise loyal guest. Guests booking directly at higher rates, and particularly guests booking suites or premium room categories ought never be walked.

If walked, it should be to a property of equal or higher quality. If the walk constitutes a downgrade, significant compensation should be provided. Contrary to what the word would suggest, a "walked" guest should be provided with transportation at the hotel's expense as appropriate.