It depends on what kind of reorganisation they have filed for - a bankruptcy on its own does not necessarily need to lead to direct consequences for the operations of the hotel.

Just to give you an example, the owner of the Grand Hyatt in Vienna, Signa Holding, has been in insolvency for over two years now, however the hotel has continued to operate under the person administrating the insolvency estate, while looking for buyers. Under German law (which is more or less the same as Austrian law) there are multiple options how this may evolve.

What FLYGVA noted above is a completely normal outcome in such situations.