We've stayed on points there. One great thing is that it also includes admission into the park.
The best hotel is the
Disneyland Hotel, but the points cost (39/night) reflects that. We stayed at the Sequoia which was nice, and OK for us as we didn't spend that much time in the hotel itself. Sequoia rooms are along the lines of Wilderness Lodge rooms at WDW.
The Disneyland hotel is close to the entrance. The others are about a city block away. You walk through a shopping/entertainment area along the lines of Downtown Disney, or more like CityWalk by Universal Studios in Orlando.
Remember that this is not actually in Paris itself, but about 20 - 30 miles outside the city. If you're only going for one day, you won't be able to see both DLP and Paris itself.
Assuming you're taking the train, there's a station right at DLP.
If I were you I'd do at least two nights. Even taking the train through the Chunnel from London to Paris, it's going to take you several hours to get to DLP and get checked in. Then spend that evening enjoying the activities there that are outside the park. We enjoyed going to Buffalo Bill's show.
Do the park the next day and stay again that night.
Check-out in the morning and take the train into Paris. You could probably get a good half-day there before taking the train back to London.
Of course you'd need to check out train schedules to get your timing right.
Have a great trip.