It could well be correct, unfortunately.
Hovima hotels owns the majority of the apartments on Panorama and now seems to be changing over to HB or AI. They also own the majority at Santa Maria and Club Atlantis so they may be affected as well.
Owners of private apartments at these places are up in arms about having no say who they can rent their apartments to and its a case of wait and see for the long term solution.
Have you considered Los Geranios apartments just around the corner? They luckily extracted themselves from the Hovima clutches a few years ago so therefore, although they are supposed to have a sole agency taking the bookings, they are self catering.