Sort of??? I know that I had saved up a bunch of gift cards to use against room charges at BW. Had about $600 worth of them...all $100 gift cards. Well, I wasn't allowed to use them at checkin. Had to leave the cc on file. Then, every few days, I had to go down and put a gift card down to pay off my balance. Drove me nuts.
The reason I was given was that they are not allowed to refund anything if there is any money left at the end of the stay. Say you put down $500 worth of gift cards, but on your checkout day, you had used only $450. They can't refund the remaining $50...or some such thing.
Other resorts may have different rules..that was just my experience at BW about a year ago.