I totally understand the resort's decision. The residence rentals should not be allowed to cannibalise demand for the hotel rooms and suites. Short term rentals of residences should be discouraged, as they undoubtedly have a negative impact on atmosphere for other residents.

The fees seem very fair. Not excessively punitive for guests of owners - and hotel probably has discretion as to how/when to enforce - but high enough to prevent short term residence rentals from cannibalising demand for the hotel product.