I had a confirmed reservation from November but th...

I had a confirmed reservation from November but the hotel called me today, February 19th, to advise me that my 2 night reservation was being cancelled due to "overbooking" on the second night which happened to correspond to the date of a Who concert. No explanation on why my 4 month old reservation was being cancelled. Is this how a 5 star hotel treats returning clients? I guess more important guests wanted to stay at the hotel.