Looks like "follow the leader". Starwood have their Tribute portfolio. Hilton have Curio, etc. etc.

All designed to basically let properties do whatever they want, whilst keeping the fees rolling into corporate. "Unbound" is just making that obvious - unbound by any corporate standards. This will be fine if it's limited to iconic properties and elite benefits are respected. Not so fine if any old hotel can sign up to Hyatt and not bother with renovations.

I suppose it was coming. Hotel du Louvre, a Hyatt hotel, doesn't exactly roll off the tongue.