There is no specific requirement that a new W2 be filled out in all cases when a company or business is sold. In particular, if the hotel had been owned by an LLC or corporation and the LLC or corporation was purchased by owners, then you are still working for the same entity (the same LLC or corporation), which just itself has new owners. That said, you can certainly ask to change your withholding if you want.They have the right to cut your hours, unless you have a written employment contract guarantying your hours, since in the absence of a contract, employee hours (and pay) are 100% under the control of the employer.