I have been to both IC Hongkong and IC Bali.

I got an upgrade in IC HK to Harbour Front view and a suite upgrade in IC Bali ( using reward stay).

I would advise you use the BOGO cert at IC HK and if you have enough PC points just do a reward stay in IC Bali at 30K PC points a night ( or roughly $180 equivalent). IC HK ( not Grand Stanford) costs 2-3X as much per night compared to IC Bali and also is about at 50K PC points on a reward stay.

Check the paid night though for IC Bali because they could be lower than or should be around $180/night.