I started my Hotel credit cards/program a couple of months ago. I have SPG, Club Carlson and Marriott Rewards. I plan to add the Hyatt with the 2 free nights next year.

Club Carlson seems to charge too many points and cash and points are poor value but for one night stay and 50k points deal, it is worth it.

SPG is my favorite. Thanks to all those preaching SPG, I finally got it and did a redemption for Lima (1600 points and $30 per night)

Marriott- was able to use the free e-certificate for next May.

Having a variety of programs would be good for flexibility and also for hotel transfers for U.S. Airways Grand Slam next September.