It's a VERY nice hotel and all.... but I also think it's very overrated.
I'm there right now, and I don't think it's worth $1k a night. If I were to peg a value for points, $400 a night would be max due to the pretty good location. As a points redemption, that doesn't quite meet the 2CPM that most of us want. The breakfast is good, which is not what I expect from a $1k/30k GP a night hotel. I expect top notch at this price level and not messing up the breakfast order twice. I need to see more breakfast options such as Asian choices. Service at the restaurant and hotel is inconsistent. Again, I expect top notch consistency. Sorry for the rant folks.
$400 a night due to location? The PH SYD is the ONLY property on Sydney Harbour with direct views of the Sydney Opera House and is an exceptional property.