A friend of mine said someone he works with had booked a stay at a hotel which ended up canceling his reservation and refunding him but this was only a few days prior to the trip so he ended up losing the money of the flights as he couldn't get those refunded.
I don't think this is common but it can happen. Usually, this is caused by several people booking the same day for the same kind of room and they become overbooked like how flights can have this happen at times. They usually cancel within 72 hours though and they notify you immediately. Since he booked in advance, I would say that someone with more money likely knocked him out of his room which is not a good sign for the hotel he booked with.
It is rare and like Juliant mentioned, this was likely done by someone who works there and not down to an accident. I would report the issue. If they can trace it to one employee, you might be able to get a few nights free on the house for it.
I have heard of it happening at other places but never Vegas. I am sure it does happen though be it on purpose or not. That has to be terrible to lose money on your flight over it.