Yes, the Wyndham Grand is a separate building, with its own pool. The overall Wyndham Bonnet Creek property is situated around a large lake. From the entrance there are six timeshare towers, three on one side of the lake and three on the other. The hotel is at the opposite end of the lake from the entrance. None of the buildings are "attached" or even connected.
My understanding is that the timeshares and hotel will share amenities -- meaning that they can use each others pools (big plus for hotel guests) and restaurants (plus of undetermined value for timeshare guests).
Very nice resort, and there are a Hilton hotel and a Waldorf Astoria in the same Bonnet Creek area.