So the common theme among FT'ers is approximately this:

- If you are a frequent business traveler with a company paying enough qualifying-rate-nights to get you to top tier, HH is your program. The Diamond treatment plus 25 or 27.5 or whatever pts/$ make this program unbeatable - IF you are doing the volume in actual qualifying-rate-stays.

- If you do a mix of business plus leisure, but not enough to reach top tier, HH might still be your program if you are doing enough qualifying-rate volume to reach a meaningful award. Everybody is Gold in that program, which yields 17.5 points/$ plus air miles. (I forget if HH offered me the chance to take the 50% point bonus instead of air miles or not. I haven't been paying close attention.) If your biz travel is mid-scale to low-end, then you might look more to SPG because you won't drive enough meaningful volume to hit the big awards in the HH program.

- If you do little or no business travel, then SPG is your program because "normal" credit card usage will yield free hotel rooms very quickly. I figure I can do about $3k/month on my SPG Amex with just regular bills and expenses. If I so choose, I can turn that into a near-endless stream of free weekends at Four Points or Sheratons. Or, I can take one free 5-night trip per year to a nice resort. That's pretty good loot for someone who doesn't do hardly any qualifying room revenue.

Marriott and Hyatt come into play with specific promotions like FFN. And a lot of people just like the Marriott brands, so they stay there even if the program isn't QUITE as rewarding as another one could be.