I did stay in a theme park view room which was located in the tower building on the top floor. I think that the tower building has about 7 floors and the rest of the buildings on the property have 3 or 4 floors. We had an upgraded guest room, so it had vaulted ceilings and skylights. If you have a premium park view room, you probably will be in the tower building on an upper floor.
The view of the park is a little obscured by trees, but you can see the Matterhorn and several attractions from Tomorrowland, the
Disneyland Railroad goes by, and you have a terrific view of the monorail when it goes by. You should also have a nice view of the fireworks, but when we were there last March during spring break, there wasn't any fireworks and we were bummed (sigh). We also had a nice view of the main pool area.
Our room did have a balcony (I think most of the rooms there have one), and it was good sized for a hotel balcony, but it didn't have any chairs. I don't recall seeing any of the balconies with chairs. You may want to call the Hojo and ask about chairs for the balconies (do they have them?). It definately would be nice to be able to sit out on the balcony.
Overall, you should expect a terrific stay. If you have any more questions, I'm always happy to help.
Have a terrific time!
