No, upgrades are not usually a benefit at Homewoods.
That being said, I've gotten some great upgrades at Homewoods, usually to a two bedroom suite, which I've never really understood since each time I was traveling along.
Upgrades to suites are addressed in the terms and conditions:
Either upgraded accommodations (subject to availability and does not apply to suites) or an amenity at Hilton Family hotels, as determined by the hotel.