@Jonesta6 One thing I disagree with you on is the hotel not being busy outside of the summer season. With my opinion that SPW being more of a destination park, they'd have an easy time selling Sesame vacation/weekend packages. Also, I would venture to guess that the hotel would be packed for HOS, and people would flock to the hotel for Christmastown because it would be decked out in decorations. The vision and plans for filling the hotel are for a different thread.
Assuming they can pack the hotel during all days the park is open (I don't believe even Cedar Point can make that happen in just the regular operating season when looking at Hotel Breakers alone), that still means about 4ish months of nothing to draw guests - either really lean operations at potential loss or a closed hotel that still costs money in taxes, upkeep, etc.
Add to the fact that there are many regular hotel operators in the area, and the only two ways I see that it could be financially feasible is for a regular operator to be in charge and thus bring any efficiencies they inherently have in order to see black on the ledgers in exchange for control, or that the base room price is extremely high over local competition to pay off debt for the project and make the profit they expect on top.
BGW may get a decent amount of non-locals, but I don't see it likely that SPW would be such a draw that would increase the current ratio much to where they could justify building a hotel on property.