From that point, MR is better than SPG, but hopefully we can see it coming.
So you think that Starwood is more likely to go bankrupt than American Express (if by MR you meant Membership Rewards)? I think they're both very unlikely to go bankrupt (both have positive earnings and cash flow), but with the problems in the banking industry I would be more worried about AXP. I have far more confidence in the viability of either of those than in any of the legacy airlines.