Not only does it work, but that is the only thing left at Poly for Dec 9th - 15th! That's the only thing they could offer me when I called. I know $279 a night is probably a great deal, but still too rich for my blood!
Thanks for your responses. I booked a water view room at the Yacht Club for $231 and now I'm debating calling to see about upgrading to water view concierge for $309. I'm not sure if it's worth the extra money but I also figure I probably won't see these prices again so now may be the time to try concierge. Decisions, decisions!