I guess the point isn't the IP technology (who cares), but the way Sheraton Petaluma is positioning this. It's worth noting that any hotel could do this with almost any phone system -- you don't need IP to get to this price point.
It's probably a great idea and not only from a phone revenue perspective. It's high time someone thought about providing a service that people actually value and prefer to use instead of just hijacking those who don't have a choice.