Yep, for the same reasons, no lamps, drop keys, or supervisory circuitry, I'd vote for some sort of patch panel for patching A to B (hence the colored cords). While I don't doubt the veracity of the seller :-) I beleive that if it came from a hotel, it was probably used for night signalling in some sort of bell ringing intercom system with a lot of external equipment.

Clearly not worth that kind of cash.

Carl