Once you've priced your park tickets, look into buying an AP for at least one member of your party. Then you'll be eligible for Passholder hotel discounts which could help bump you up to a nicer hotel. Even the lowest level Seasonal AP is eligible for the discount, just keep aware of blockout dates. And hotel discounts only come out 3-4 months ahead of time.
While we love Cabana Bay, our go-to Universal resort is Sapphire Falls. Gives you a good balance of amenities and value. The boat to the parks is a big perk over Cabana's bus.
-Rob
FWIW, more recent annual passholder (APH) rates have come out closer to travel dates -- less than 5 weeks before our trip 2 weeks ago, in fact -- and offered far fewer rooms than in times past. I don't say that to discourage anyone from buying a Seasonal Annual Pass instead of multi-day ticket, as I think the Seasonal Annual Pass is still a far better bargain than, say, a 3-day 2-park ticket, but just to help with adjusting expectations. Also, know that you can book a hotel before the APH rates are released, and simply modify your reservation to the APH rate if/when one is released for your dates and room category -- or, cancel without penalty up to 5 days before check-in, and re-book a different room that _is_ offered at the APH rate.
I definitely concur with the advice to go the APH route though, for several reasons (subject of course, to the blackout dates: generally the weeks before and after Christmas and Easter, and the month of July). Firstly, I think you're going to really like Universal, and knowing you can come back again for 12 or more months (they sometimes give you 3 months free during certain promos) without paying for tickets is awesome. If you can afford a premier hotel which comes with unlimited express pass for everyone in the room, that's great -- you won't even need to bother with a touring plan, except for Hagrid's and Velocicoaster (the only two attractions that don't offer express pass). If you can't, I again second
@Rob562's advice to look at Sapphire Falls, which is beautiful and convenient. We've stayed at Cabana Bay as well, which is fantastic for resort down time and very affordable, although the transportation (bus to CityWalk, or 20-minute walk along the Garden Walk pathway) is slightly more time-consuming.
Recommendations for adults:
- CityWalk: take some time to enjoy CityWalk, which is small and easy to navigate, and has some fun restaurants, in addition to movies, mini-golf, etc. (Shakes at Toothsome Chocolate Emporium, a breakfast stop at Voodoo Doughnut, tableside guacamole and margaritas at Antojitos, and sushi and burgers at Cowfish are particular favorites of my family).
- While dining reservations are not needed to the extent that they are at Disney - and cancelation policies are flexible - it's a good idea to make some ahead if there's somewhere you have your heart set on. Also, don't overlook the restaurants and lounges at the onsite resorts, several of which are just a few minutes' walk or boat ride from CityWalk, and will give you a chance to tour new resorts.
- Plan at least one full day in each of the two main parks (and a third for Volcano Bay waterpark, if that's on the agenda). Take note of the handful of attractions that have the longest lines and try to knock them out of the way first or last, but otherwise, don't sweat the lines. The queues are indoors and air-conditioned for the most part, and tend to move steadily. You shouldn't need to criss-cross parks or feel the level of urgency that "beating the lines" requires at Disney.
- USF has a couple of shows -- the Bourne Stuntacular (a nicely-scripted stunt show that will have you constantly wondering what's real and what's digital, and requires no background knowledge of the films) and the Horror Makeup Show (a campy, comedic show with some information about horror special effects) -- that I'd rate as "not to be missed."
- Attractions that are my husband's and my favorites -- all others being a little rough, wet, boring, or duplicative-of-other-rides to be must-dos, although we do them all when we can: (1) At IOA: Spiderman, King Kong, Jurassic Park River Adventure, Jurassic World Velocicoaster, Harry Potter and the Forbidden Journey, Cat in the Hat. (2) At USF: Despicable Me, Race Through New York, Revenge of the Mummy, Harry Potter & the Escape From Gringott's, Men in Black, the Simpson's Ride, and E.T. Adventure. If you have a park-to-park ticket, a ride on the Hogwart's Express from USF to IOA (so you get to go through King's Cross Station and the "magic" passage to Platform 9 3/4) is also recommended.
- USF also has one attraction -- Fast and the Furious -- that I'd rate as "don't bother unless you hate yourself."
If you don't have park-to-park tickets, I'd do one day in USF (with a CS lunch in the park, one show in the morning and one in the afternoon, dinner at Citywalk, and pool time at your hotel after) and one day at IOA (with lunch at Mythos or Three Broomsticks, dinner at CityWalk, and an after-dark return to the park for Hagrid's and the Velocicoaster during the last 90-120 minutes the park is open).