We stayed at both hotels in August on the same trip. While neither was our favorite choice of hotels, both have their advantages. (I'm a Grand floridian/POR fan!)
My daughter enjoyed the bath tub at the HR and the friendly staff. Housekeeping at HR provides little rubber duckies along with Bath and Body Works goodies. The room was bigger than CBR with a mini bar. HR has extra space in the room with a love seat which we enjoyed. The breakfast in the HR lobby was pretty ok. I prefer the Disney hotel busses over the Downtown Disney services, so if you are relying on bus transportation you might want to consider that. (the stops are a little less convenient too, a pain when you have toddler and stroller in tow.)
We stayed VERY far away from the main lobby at CBR - it was quite a trek. I like Disney theme hotels and we've stayed at many of them but CBR is our least favorite of all. In this instance, I'd choose the Hotel Royal and save some money for meals and other expenses!
Enjoy!