I always state the follwing-SPG clearly the better for everyday spend. You can transfer 20K points to 25K miles in a ton of airlines. That alone means points are worth 1.25 vs Chase 1.07 (whith the bonus at end of yr)

Another thing overlooked. Buy 4 nights, 5th free. Now Hyatt redeptions look worse even for cat 5 or cat 6 properties. A Spg cat 5 at 20K a night means 5 nights 80K total points vs 100 Hyatt or more?

Nights and Flights. The best and rarely discussed. 5 nights cat 3 or 4 hotel end up costing 20K points total as they drop 50K into your Flyer account of your choice. Only available on cat 3 and 4 properties though. You have to call this redemption in.

Even though SPG has modified award charts in recent years they are still pretty fair overall. knock wood. A hotel at 700-800 a night could cost 22K-30K a night.