No, you shouldn't keep that hope he'll come back. Many things might have contributed to this such as: maybe his kids didn't like you and told him so, he no longer feels attracted to you or was simply experimenting and so on.
It's better you cease any communication with him. If he has not contacted you during the silent or no contact period, it's evident he'll never come back. Stop any communication with him for two weeks and see whether he'll respond but don't keep your hopes high.
If he doesn't respond send him a short text thanking him for the time you spent together and wish him all the best. But don't forget to tell him he hurt you but you'll heal and find the strength to move on. He needs to know his action has hurt you.