

Hotels aren’t more expensive than rentals. Hotels generate jobs, which rentals don’t. That’s why hotels are preferred. Hotels also don’t drive up house prices, because they’re purpose built.
Rich tourists don’t generate more revenue for locals than poorer tourists. In fact, poorer tourists might generate more money for locals because they’re more likely to shop in small businesses.
Either way, the biggest part of the income does not go to locals, but big corporations and owners.
Tourism also kills other businesses and sources of income, making a city even more dependent in more tourism. It makes everything more expensive too, so the cost of life increases, driving out locals.

I have actually travelled quite a bit, and I always prefer hotels both because they’re cheap and because they’re not as damaging to local communities. Hotels usually include breakfast, and for relatively cheap you can also eat and have dinner there. Even when taking into account the price of the food and restaurants, they mostly still end up being cheaper.
Tourists will fill up residential areas even if there are no hotels/apartments in them. Cities themselves are not made to cope with that amount of tourists.
This is an issue, but the main issue with rentals is that they drive up the prices and push people away to suburbs.
Rolex is not a local company, and will take most of that money away from the local economy. Small shops can be owned by locals, so most of the money spent there stays in the local economy.
I’m pretty sure Rolex pays its employees the same as any other company. Probably close to minimum wage. Rolex doesn’t care about creating high paying jobs.
No tourist city I’ve ever lived in has ever worried about rich tourists. In fact, most people want them gone first.