The China market is unique. Imho, those concepts don't apply in Western Europe or the US.

Properties in the US and Western Europe are financed. So there are investors, property owners, management companies, and hotel franchisees. All have an interplay. Investors won't finance the development or purchase without a franchise agreement in place. Owners can negotiate some degree of control with management companies but want to avoid what's happening in Moondogs example since it might expose them to greater liability. They can, however, in some circumstances tell the management company to apply certain policies, aka Aspen St.R. Changing the franchise requires approval of the investors.

Sometimes, like the W in Las Vegas or Habtoor, people want a divorce. Most of the time, however, the owners, investors, and franchiser have a lengthy contract. At the end of the contract, it may not make sense to keep the same franchise because of upgrade costs. So hotels go with Delta, Tribute, Autograph, etc.