Every hotel where I've redeemed in the last couple of years has gone up in value by at least 5k, some 10k.
One I didn't redeem at but find amusing is that the Hotel Indigo in Asheville SC is at 45k/night.
Since most of my redemptions had been for 15k instead of $119/night, and now those are 20k and 25k... my value is now dropped to the point where buying points via cash & points is no longer a viable option.