There is amazing value to be had in Bali. I wouldn't waste your hard earned miles on five star properties. Four Seasons still costs $600/nt in Bali, might as well save that mileage splurge somewhere where no good hotels can be had for under $300-$400.
On AirBNB.com (and VRBO too) you can rent all sorts of villas. For $200 a night (even less, some are only $40) you can get a posh private villa, 3BR, oceanfront views, and staff to cook you amazing meals and take care of ya.
Agoda.com has great deals on places too, sometimes so cheap I can't believe it. I've seen $120/nt going for $30.