Apparently it won't actually be in Star Wars Land, according to what Disney Dish said, it wouldn't actually be in the park. Not sure how they'd keep the immersion though if doesn't have an entrance straight into SWL, but then again, it may well be linked in some way (maybe a Star Wars vehicle that takes you from inside the hotel and into Star Wars Land? Who knows)
I haven't seen anything recently, but think it'll happen at some point - Disney wouldn't go through all the work of creating concept art etc. if it wasn't something they are seriously considering. And tbh, even if it would open with SWL in 2019, IMO it is still possible even though they haven't started it yet - just look at how quickly Universal's Aventura Hotel has gone up (which is a lot bigger than Star Wars Hotel would be too..). I think it is a cool concept, something i've never seen done before, so would be interesting to see how it all works and if the idea works. As with everything, time will tell i'm sure!