Programs: DL PM, AA Plat, HH Dia, SPG Gold, Hyatt Plat, National ECE, Avis First, Hertz PC
Hotel points have seem to be less affected during the recent cuts by rental car companies. For instance, Avis still offers 300 GP points from Hyatt, and you can still get 1000 Marriott Rewards Points from Hertz. I think one of two reasons are possibly responsible for this:
1) Less people take hotel points, so the rental car companies haven't worried about them yet.
2) It appears that the 7.5% tax that is now applied to ff miles is not applied to hotel miles.