This is ABSOLUTELY all speculation. I realise that PaddyRickMFZ spoke to a keeper and was told what he was told, but it doesn't mean that those things will happen.
As I've mentioned before, I am a volunteer at WORZ, and hence I have access to a bit more info than most people. I've asked specifically about the elephant replacement and have been told (by reliable sources) that no decision has been made - though a lot of ideas have been bandied around.
The only thing I've been told that is definite, is that the elephants will be replaced by animals - not by a hotel.
Personally, I'd be absolutely amazed if MZ imported 10 Malayan tapirs - but then I've learned throughout my life not to be surprised by too many things...