AP refers to a discount rate given to Annual Passholders. The rates are currently available until 12/26 of this year, but are becoming scarce. You do not need an AP to book the rate, but need one at check-in. If you are able to get a room @ an AP rate the savings can be huge! For instance, the room we booked was over $1000 cheaper than the regular rate. You only need one annual pass to get the discount, so if you don't think you will go more than once this year, just buy one pass. You can check the cost of an annual pass vs. regular pass at www.wdwinfo.com.
We buy annual passes and go 2x a year by moving our vacation up by one week. Good luck
An AP rate is an annual pass rate. At least one person in your group must have an annual pass to get this discount. The rate and availability would depend on what is available at the time of your stay. You would have to call CRO and find out what is available while you are there, then determine if it is worth buying an annual pass. If you are going to be at the parks more then 8 days in a year, then the annual pass might be a good deal for you. Check out www.mousesavers.com. There is a lot of information on discounts and annual passes.