Of course hotels come and go all the time.
This happened at Starwood before Marriott
Hotel Pulitzer
Westin Diplomat
Le Meridien Brussels
St Regis Monarch Bay
St Regis Venice
Parker Palm Springs (the trouble with Starwood started in 2013)
W San Diego
Le Meridien Eden Rome
Lanai Manele Bay Hotel
Lodge at Koele
Palace Hotel Copenhagen
Westin Trianon Place Versailles
Westin Rio Mar Puerto Rico
Etc.
I think we had stayed at 6 of those and were sad to see them go, but it's pretty par for the course in the hotel business