Here is what one program is doing below during this tough time during a promotional effort. Then of course there is Hilton HHonors
Has anyone seen the poor showing of Point Stretchers in recent times?
It once was a fantastic opportunity for Hilton HHonors members in the past

Incidentally the Radisson blu international properties that once were called SAS Radisson are typically excellent in the Gold Points program

Dear 777 global mile hound,
More nights. Less points.
Redeem some of your 246,281* points to enjoy an Award Stay for 25% - 50%fewer Gold PointsŪ now through January 31, 2010 at participating hotels in North America, South America, Europe, the Middle East and Africa. Check out some of our global destinations below:

Here would be Hilton HHonors version
Dear 777 Global Mile Hound
Stay More Award Nights Spend More Points! Enjoy an Award stay for your hard earned loyalty for significantly more HH points then anytime in our program history. Effective January 10, 2010 your points will be worth at least 20-25% less with our new worldwide program enhancement.

Thank you for your business we look forward to welcoming you to one of our Hilton family of hotels soon and taking back the value of your past loyalty earnings over the past two years.
We welcome you soon to one of our 3000 plus hotels around the world
Thank you for your continued loyalty