I used points one time at the Logan Hilton .. nothing else was available, and I wanted to stay at the airport the night before my early morning flight out. I just ate the points myself.

If your employer has a policy that permits you to bill them some amount for a points stay, then go for it. Otherwise, without approval or a policy, it's just not worth the risk. I suppose you could contact the travel department (the policy setting people) and ask them if you can do it, explaining the savings and see what they say. My company does offer the ability to buy a gift if you stay with friends or family. But otherwise we're typically required to stay at company preferred hotels using company preferred rates.

-David