For hotels, I suggest using Priceline whenever possible. Although you won't get points, and can't redeem points, the savings can be huge.
For business travel it's not as great, because you won't get points or upgrades, and very few companies will give you a medal for getting a $150 hotel room for $60. But it's definitely the strategy of choice for personal travel.
http://www.flyertalk.com/forum/onlin...ng-primer.html