Your folks may not benefit from your status anyway. Plus the hotel *may* call them on the fact that the Honors member is not staying in the room and not give them benefits until you present yourself to the front desk. Just make sure your folks are aware that the front desk may ask to see you and not be embarrassed when asked when you, the Honors member whose name is on the reservation, will be checking in.

Your folks are not entitled to your benefits. Don't know why you think they would be? If you book the reward under their name from your account then your account number is still associated with the reservation. Many hotels will give the benefits but at least you are not violating Honors T&C just because you want to game the system.