chix, Butcher Bird -- We all know that beauty is in the eye of the beholder... I am sure you have very good reasons to disagree with me (and hope you'll share your opinions on the rewards you've used in the past), but personally I am still not yet convinced that most Vacation Rewards were a good value for my points. Keep in mind, that Vacation Rewards do not include airfare and ground transportation (with the exception of some offering airport transfers).

I usually consider spending my HHonors points if I can yield at least 1 cent worth of value per 1 point spent (VIP awards at expensive locations and some point stretcher awards yieled much better than that).

Let me look at the used-to-be-available Vacation Rewards and analyze a few. I have a printed copy of the Member Rewards brochure listing all those available in 2000.

Magical Mexico (two free nights at the Hilton Guadalajara) - 100,000 HHonors points. Added value: free breakfast for two and city tours of Guadalajara and Tlaquepaque.

Hilton Guadalajara is a Select category property, thus 2 nights would cost me only 45,000 points. Being a Diamond member (and this would also be the same case for all Gold members and above), I get free breakfast anyway. Would I consider two tours of Mexican cities worth about $550 (value of 55,000 points) - nope, I would not. I'd rather arrange my own tours, if I choose to do that, and I'm sure I'll spend much, much less money.

Margarita Escape (three free nights at the Hilton Margarita in Venezuela) - 125,000 points. Added value: free breakfast, one-day Jeep safari for two, and small (10-15%) discounts on food and local excursions.

Hilton Margarita is a Select category property, thus 3 nights would cost me only 65,000 points. Once again, breakfast is free for me anyway. Is that Jeep tour worth $550? Very much doubt that.

I Love Nassau (four free nights for two at the British Colonial Hilton Nassau) - 175,000 points. Added value: free breakfast daily, a candlelight dinner for two, and two free embroidered robes.

British Colonial Hilton Nassau is a Premium category property, thus 4 nights would cost me 130,000 points. Is the residual value of 45,000 points an adequate price for a candlelight dinner and two robes? Maybe for some people, but it still doesn't quite cut it for me.

West Indies Tropical Adventure (four nights for two at the Jalouise Hilton Resort & Spa, St. Lucia) - 400,000 points. Added value: free breakfast, helicopter transfer to/from the airport, one 50-minute Caribbean Massage per person and one 50-minute Island Facial per person.

Jalouise Hilton is a Premium category property, thus 4 nights would cost me 130,000 points. Would I consider spending 270,000 a good price to pay for an airport transfer and a couple of massages - no way.

Japan Ski and Spa Getaway (three free nights at the Hilton Otaru in Japan) - 150,000 points. Added value: free daily breakfast, an all-day Passport to the Snow World (including taxi transfers), one-day ticket to a spa, and one sushi dinner for two.

Hilton Otaru is a Select category property, thus 3 nights would cost me 65,000 points. Is 85,000 points a good deal for the added value stuff listed above - not sure, most likely not IMHO.

Fun at Tokyo Disneyland (two free nights for two at the Hilton Tokyo Bay) - 160,000 points. Added value: free breakfast and two 2-day passes to Tokyo Disneyland.

Hilton Tokyo Bay is a Classic category property, thus 2 nights would cost me 55,000 points. Would I spend 105,000 points on two Disneyland passes (costing about $80 each) - no way, I'd rather buy those tickets for cash.

China Excursion (three free nights at the Hilton Beijing) - 195,000 points. Added value: free breakfast, airport transfers, a day tour of the Great Wall and the Ming Tombs (including one lunch for two).

Hilton Beijing is a Select category property, thus 3 nights would cost me 65,000 points. Once again, I fail to see a good value in spending 130,000 points on a day tour, lunch and airport transfers, I'd rather buy my own tours and save points for a better deal.

Discover Down Under (five free nights at the Hilton Cairns or at the Sydney Hilton) - 250,000 points. Added value: a tour of Port Douglas and a catamaran tour to the Low Isles (in Cairns), or a coffee cruise of Sydney Harbor, tour of the Blue Mountains and airport transfers (in Sydney).

Both Hilton Cairns and Sydney Hilton are Select category properties, thus 5 nights would cost me 110,000 points. I've done all those tours myself while in Cairns and Sydney (on a combined VIP and Point Stretcher award that included 6 nights in Sydney and 3 nights in Cairns, and two roundtrip tickets from STL to SYD, total of 335,000 points at the time, before applying a VIP discount of 20,000 points). They are all great, but I'd rather pay for those tours and save my points, as I've spend much, much less money than 140,000 points' worth, and I was able to choose the provider.

I'll be happy to continue such an analysis if someone is particlarly interested in discussing any specific destination from the used-to-be-extensive list of Vacation Rewards.

Also, keep in mind, that one of the most exotic (and thus appealing) destinations - Kenya Safari is still available.

All said notwithstanding, it is always a disappointment when rewards options diminish, especially without a warning.