I am traveling from Egypt to the US using Swiss airlines. The layover at Zurich airport is 16hrs. I found that there is a transit hotel at Zurich airport next to gates B/D.
Can I access this hotel if I don't have a Schengen visa?
Yes, you can, if you are an Egyptian passport holder or a US permanent resident.
As discussed in an answer about transit visas, if you are an Egypt passport holder, as stated in point 3, you do not need an airport transit visa in Switzerland. In fact, as an Egypt passport holder, the only country for which you need an airport transit visa is Czech republic. As stated in point 4, if you are a US permanent resident, it is also all right.
So yes, you can go to this transit hotel ("transit" as in airside located hotel). It is open 24 hours a day, but be careful it has 2 daily shifts, one daytime from when you arrive in the morning to 9pm and a nighttime from 3pm to 9am But you cannot leave the airport without a visa.