This is going to haunt development in the city for a long time to come. You can't work with a developer for years just to pull it at the last minute. The chilling effect on development is something I think those who voted no never considered and if they did they decided to heck with it.
Would you develop in a city that has you modify your plans to build something the land you are going to build on is zoned for and then at the last minute decide to not approve the plan because of a 'gut feeling' about if you will be successful? No you wouldn't.
Also the new hotel licensing thing requires you to provide the city with a market study, however it appears to have nothing about what happens depending on what the market study says. So the market study could say the city needs 1,000 hotel rooms and the city can still say no...
Because again, the role of government is to limit competition and protect existing businesses. If a hotel pops up on 59 on the Naperville side of the street in the next year I will laugh my head off