Just reserved one night at Sheraton San Jose at the 21-adv purchase non-refundable rate of $50/night+tax on Sheraton.com website for 12/30-12/31 (Tue).
Total I will pay is $55 but I will get 5,000 AAdvantage miles (plus 55 miles on AA MC). So the cost per mile is only 5500/5055= 1.08cent/mile. The nice thing is that I will be staying at San Jose during that night for sure. Then, that night is virtually free for me.

Even Priceline can't beat this at all.