In my opinion, it's too many rooms in towers to be luxury. That being said, it is nice and most kids will love it. We were there a few years ago when it was opening up. The only downside is that the food wasn't that great in that area. Perhaps it has gotten better.
Right next store is the Four Seasons. Not sure when it's opening. It used to be the JW Marriott. We saw a room and it was very large, with a lot of wasted space. Not sure how typical that room was or how the rooms might change. Also, the pool did not have a view of the ocean, but that might change also.