Most of my hotel stays at chain properties are personally paid with my family, and my business is primarily driven by the following factors (in order of importance):

(1) Location
(2) Rate
(3) Promo
(4) Elite benefits/EQS

Thus, all else being equal, I will first select a hotel in the most convenient location (where there may or may not be a Hilton property) then next by rate. If rates are within a narrow range, I look at promos - SPG's summer buy-2-get-1-free and Hyatt's FFNs come to mind as ones that have significant value. If all else is equal, then I will prefer the program that provides the best elite benefits or qualifying.

A few years ago HHonors was at the top of the food chain because I would receive Gold benefits including free breakfasts on priceline stays and other low rates. As Gold benefits were devalued, and I made less use of priceline, my business has shifted to SPG and Marriott.

In the last year HHonors promos - both for rates and stays - have been mediocre compared with the competition. So the latest devaluation - which appears to be an incredible marketing blunder during a severe recession in the travel business - is merely another strike against HHonors.

It is a shame as Hilton has some great properties and often competitive rates. But they have simply failed to keep up with promotions.