UPDATE: Closing the loop on my thread..wound up spending the night in the W after all. Wanted as easy as possible after our 7 nights in Bali. Bothered me to spend that amount of points for one night...but it did work out well. It is a bit of a walk from the Airport Express station if you are loaded down with carry-ons...but the ability to walk through the mall is nice. Thanks again to all who responded. :-)
(Hi, thank you for the advice! I took another look at the W. The cheapest room I could find is 2340 HKD + Tax or 20,000 SPG pts. The points is not a good deal wish there was a cash/points option. Not sure about spending $330 or so for the 12 or so hours we would be at the hotel. I do agree that logistically it is the best choice.)