If there was some kind of SAR going on, the helicopter would a) have been a marked law enforcement or fire department helicopter easily distinguishable from regular tourist or news helicopters, and b) would probably not have been flying in a circular pattern.
Boats on the lake are normal; boat traffic being diverted away from a particular area would be unusual.
I suspect hotel CM's would be among the last to know...unless there were some emergency which might require either locking-down or evacuating the hotel.
It's also not likely they would do a drill at Bay Lake. There are many other ways to drill, and many other venues. Simulating flying around really accomplishes nothing. Practicing extrications or medical evacuations would be done elsewhere.