NO!
This is a myth (unless you do it yourself at home, then yes it will).
When done professionally *with a sterile, surgical blade* + with the correct technique, the treatment is a complete exfoliation of the entire epidermis (top layer of skin) and not a 'facial shave'.
Your hair will continue to grow back as normal, not thicker, darker or more of it- although do keep in mind, epi-dermal levelling will not *unfortunately* reduce your hair growth.