We usually enjoy nice hotels rather than nice seats. The best trips for us though is when we have both.

Right now, I'm finding hotel points (Hyatt via Ultimate Rewards) easier to get and less costly than nice seats (Singapore F via Amex MR).

Often at resorts we don't leave the hotel for days at a time. Even in city hotels we often go back to rest during the day, especially if jet lagged. The points allow us to stay in hotels we would never want to pay for... Park Hyatt Paris is something like $1,000 per night and only 22k points. 22k miles won't even get you a domestic rt in Y.