pgupta011, thanks for the analysis! I hadn't thought of this and am surprised to learn that Marriott, with the changes, can still crank out more value than Starwood. Like you, I usually use hotel points for stays rather than airline miles. Although Starwood may offer more value in terms of hotel stay earning power, no one can beat Marriott for the utility of their points (Marriott, COurtyard, Fairfield, etc.) Hmm, this decision will be tougher than I thought.