I was there that same week in 2016 as well as Labor Day weekend. Labor Day was less crowded, IMO. The first two weeks of December used to be the best kept secret of Disney. Mild weather, low crowds, holiday decorations. Not anymore.
MVMCP will be held on Dec. 3, 5, 7 and 8 of that first full week. This will translate to denser crowds at MK on the non-party days and the nighttime shows will be insanely crowded. On party days, people without hoppers will choose the other parks (expect AK to be the popular alternative) and people with hoppers will jump to the other parks for the nighttime shows. In general, park hours are shorter at that time of year.
But having said all of that, I do believe that if you plan accordingly and take those factors into consideration, you can still have a very nice trip.
It is very popular with the DVC folks as the previous poster noted. And there are a lot more DVC properties these days. We have found it to be okay although certainly busier than it once was.
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