My dilemma is a little different. I am both Marriott PP and Lifetime Plat, as well as HH Diamond and Raddison Gold.

However my travel patterns have changed so that I can only retain status in 1 chain.

I don't need to stay a night in a Marriott property to retain Plat, but the PP treatment I receive in Europe and Asia is such that I don't really want to stay anywhere else. Unlike the OP, suite upgrades are very frequent as are other forms of recognition, ranging from champagne in the room to a bathrobe customised with my name embroidered over the breast pocket.

However I would like to keep a second elite status for the locations where, for whatever reason, I can't stay at a Marriott. I've dropped to HH Gold for next year and am not sure what to do after Christmas when I start accruing nights for 2013.