We just got back from our second trip to DL and stayed at the Anabella- the first time we stayed at the HoJo, 3 years ago.
I wanted to stay in the HoJo again this time. It had its downfalls, but because of the proximity and the fun water area, I was hoping to stay there again. However, since we were staying a shorter amount of time and weren't sure if it would be warm enough for water play, I didn't want to pay more JUST for that, and we decided to stay at the Anabella to save money. I booked the Anabella via a TravelZoo deal and had the option of an L-shaped room with 2 kings, or the mission suite with the daybed in a separate room. Since my kids sleep terribly when put together, we went with the suite. At the Hojo, we would have just had a standard room with double or queen beds, so it was nice for us to have a king (we had a king, our 7 year old had a queen fold out, and our 5 year old had the daybed in the separate room). Included in the deal was free parking, free wifi, and free hot breakfast for 2. Breakfast was good and of course nice to have it included (we just had to buy 2 kids' breakfasts), but even if it wasn't included, it was just nice to have a restaurant on site unlike the HoJo. Four nights for all of that cost me $600 at the Anabella and would have been closer to $800 at the HoJo without the nice suite or breakfast.
So cost was the main motivation for us, but we wound up really liking the Anabella. The grounds were nice and the pool area was great for the very short amount of time we had to spend in there.
The walk is further than the HoJo but it's more pedestrian friendly. Just cross the street and you're basically on
Disneyland Drive with pretty walkways instead of walking down the side of a main street. You walk through the Grand Californian and DTD. Or, take a shuttle if it's too far, it's probably 5 mins further than the HoJo.
My main complaint about our room when we stayed in the HoJo was that we had windows up high with no coverings... so my kids were up with the sun. I like hotel rooms that we can keep dark. Since the parks didn't open until 10 last week, it was nice to have everyone sleep until after 8. At the HoJo we were forced awake at 6.
Overall, I liked both, would stay at either again, but liked having the option of a suite for the same price or lower.