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I always assumed that the labirynth was a point where different worlds intersect. Like, no matter where you are, if you need the hotel you will find it even across the worlds as it will guide you towards it. I also assumed that was the way the old gods disappeared, into other universes/planes of existence.

Concerning the hotel, yep, that's right! The hotel pulls in people who fit the bill no matter where they are. This will be explored in depth as the story goes on.