B&B(Hotel) - Temporary attitudes or way of life, a short-term situation, escape or separation from family or home situations, sexual activity outside the home life. For people such as businessmen/women, or media people...the hotel can represent work, or the persuance of work.

Water - represents your subconscious, your emotions, moods, your accumulated life experiences, and the flow of 'feeling' energy.
Rising water suggests an incoming flood of emotion that you're feeling....but because the water recedes rather quickly, and you didn't panic, suggests that you don't feel that this situation will last.

Ship/Boat - a symbol of a part of your personality which you need in order to move ahead in the ocean of life. The boat in your dream could represent you and the manner you navigate through your emotions. It could symbolize the voyage of your life, an adventure and exploration of your unconscious, or a connection to the people in your dream by pointing out something that all of you have in common ("in the same boat").
Superstition-based dream interpretation books say that if the voyage is calm, you should go forward with your plans. However, if it is a very stormy voyage, get ready for an emotional upset (or challenge).

People - Usually our dreams are filled with people. We dream about our families, our friends, our neighbors, and our classmates. We dream about strangers, colleges, famous people, teachers, and, at times, our supposed enemies. Each dream is very special and carries its own unique message. When interpreting this dream with people in it, consider all of the details and the feelings in the dream. If the person is known to you, think about your relationship with him or her and the issues that the dream has brought up. We learn about ourselves through others, and probably our most valuable possessions are our relationships. Some believe that the strangers in your dreams represent different parts of yourself and are extensions and projections of your own personality. Many people believe that their dreams can predict the future. When they have negative or frightening dreams, they become anxious about the future. Alternatively, when their dreams are a form of wish-fulfillment, the dreamers become very excited and are hopeful that the dream will come true. Most dreams are not prophetic but are psychological or spiritual in nature. Their primary function may be to help us live better in the present, rather than the future.

Friends - Our dreams are full of symbolism with their messengers being all different types of people. It is very common to dream about our friends. These are individuals that are emotionally valuable to us, and we learn about ourselves through them.
This dream is more than likely attempting to bring up uncomfortable feelings that you have about yourself or others. (Remember "uncomfortable" does not necessarily mean bad.)
Dreams are created by our own thinking processes, our own thoughts (conscious or unconscious) create dreams, thus, the mind that created the dream also knows its meaning!!!

Old Lady - The elderly are symbols of wisdom, experience, and patience. Suggesting you feel the need for guidance on a particular subject, or situation.
The dog is a symbol of loyalty, friendship, and companionship.

Rescue others - suggests you likely see yourself as a leader rather than a follower. You may be subconsciously thinking about the kind of examples your are setting for others.

Pajamas - represents being casual or intimate, also represents sexuality. Aternately, they also represent difficulty in facing life's problems.
Because they were 'too big' suggests freedom of movement within the symbolism of the pj's themselves:
Positive: you are quite comfotable in your sexuality, and express emotions freely.
Negatively: Life's problems are not only difficult to face, but are too big, or numerous, and overwhelmingly so.
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Have you had an emotion experience recently?
Are you in a position which you feel is temporary?(Or a relationship which you fear, or worry, may not last very long?)
Have you been put into a role of leadership, and you wonder how you'll handle it?
Have you been thinking(possibly emotionally) about your old friend, and have been thinking about going to see her/him?

Hope this gives you some insight. Good Luck!!