You don't have to pack towels for the pools, but there is a bit of a catch. We just returned from a very enjoyable stay at CPGV over the Thankgiving holiday. If you go to the pools on the Grand Villa side, the pool towels are available at the pools themselves. However, if you choose to go over to the volcano pool on the CP side, as we did (my son wanted to check out the slides which are only on the CP side), there are no towels at the Volcano pool itself. As it turns out, those staying at Cypress Pointe (phase I) have pool towels in their rooms as well as standard towels. I went to the front desk and asked for a pool towel for my son which they gave me but asked me to bring it back to the front desk. The next time we went over to the volcano pool, we stopped at the CPGV pool and got towels first.
Not a big deal at all. Just passing on the information as you'll be staying at the Grand Villas as we did.
Enjoy your trip. I'm sure you're going to love Cypress Pointe.