Hotel points are not comparable in my mind. You can burn 20 or 30k points for one night of sleep or you could suck it up and pay 75 bucks for a roof and a bed on Priceline. The opportunity cost of $75-150 applies no matter how nice the room. Miles on the other hand have a high opportunity cost since everyone charges roughly the same for flights. I would never accrue hotel points if i could choose miles.