The date is May 9th for the switchover.
From what I heard, it was put up for sale and they were hoping it would stay PH.
Typically these days, a developer/owner owns the property and the hotel "manages" it for a fee. This was likely put up for sale, but the new owners have a starwood affiliation (this part I was told) so they looked at what to brand it and decided on meridien. Different owners may have kept it PH (and I was told that was the hope when it went for sale). I don't think this was as much as a Hyatt decision as is being considered in this thread, but of course, I could be wrong.
I'm going to have to be very careful on nights to keep diamond as I stay at PH SF often and will have to get SPG platinum now.