It depends how you use them and how you're building them up, but I try to get a redemption value of 1c/point.
As this is less than 0.5c/point, I'd take the points and would buy the stay with cash.
However, if I earned all my points through my employer and only did limited leisure travel, I'd value each point much lower.
Of course, if you could find another nearby Hampton where the redemption rate was lower, and particularly if you could add a fifth night to the stay (which would then be free on points) a redemption would make much more sense.
Incidentally, even at 1c/point redemption, I find it rarely makes sense to go for the double points offers. I suspect they're aimed at people who don't have to choose the lowest possible rate when expensing it. MVP, Little League, AAA or gold medal rate would mean that the effective price of those double points is very high even if not too bad against the flex rate.