If it were me and I were going in 2014, I would stay right off the speedway, within walking distance of the track, and book the Courtyard Daytona Beach Speedway/Airport. The property currently runs $455/night around race dates. This property is 20,000/points per night with the 5th night free and only 80,000 points for a five night stay. A GREAT DEAL!!!! Even if you're only staying 1-2 nights it's still a pretty good value.

I've been to the Daytona 500 twice (before I was into the miles & points game) and would not drive from the Orlando area ever again!

If a beachfront property is a must I would stay at the Holiday Inn Express & Suites Oceanfront hotel located in Daytona Beach Shores. It's won a bunch of awards and the reviews are excellent. All rooms are oceanfront & have balconies and the free breakfast is a big plus. Rates are about $300/night during race dates but a pretty decent value with points. 25,000 per night or the cash in points options are: 20,000 + $40/night or 15,000 +$70/night. It's only 10 miles away from the track but by studying up on this & reading various websites traffic isn't too bad.

If you don't currently have an IHG Visa card (formerly Priority Club Visa), there is usually a very good sign up bonus. Also, if you're shy a few points there's a trick out there (search flyertalk) to buy them a little cheaper than the going rate. On a side note, I would not transfer Chase Ultimate Rewards to IHG as the value isn't so great.