Cleveland Residences Chelsea

They cancelled our reservations without warning. I booked a November stay in July and got a confirmation email. Since I was travelling from another country, I emailed as check-in got closer to make sure the booking was still in place. A few minutes later, my bank notified me that a charge had been denied for fraud. I cleared it with the bank, then went to email the hotel. They hadn't told me they were about to charge me or that the payment had been declined, and had already cancelled the reservation. I told them they could try the payment again, but they said it was too late and I'd need to book again, for £500 more. The same thing happened to my friend's booking for the trip. We had to find another place at very short notice, the day before arrival. Why hold a reservation for months, then process a charge without warning when I ask to confirm it? Should I have waited until arrival and paid in person? The whole system was shoddy, and I'd warn people not to book here if they don't want this hassle.