I fully agree with you.
I'm a male and I would have been quite disappointed at this whole thing, and I certainly don't get 'upset' at seeing scantily clad females, the beaches here are full of them.
The problem is the context, as if women on a gathering like that have nothing but 'decorative' functions, and as if all men would find such a display appropriate.
I also think that regardless of how far from 'home' this happened if that's yahoos' approach to this kind of event anywhere that it reflects bad on them as a company. The apology that is linked to from here is actually pretty weak.
It shows a certain disrespect.