When I was speaking with a certain person at the park one day, I was told point blank - We need to FIX too many things right now to be even considering a hotel at this time and it is therefore shelved indefinately. I was also told that Shapiro thought they were out of their minds for not including a indoor waterpark and that he wants nothing to do with it if they can't sustain year round operation.
IMO, I see this coming back around in 2-3 years when the overhaul is complete. (will it ever be complete?)