I came to a similar analysis. Check out the PDF attached.
I've actually been moving to Choice recently. They changed their expiration policy to just keeping it active and point never just go away. Our strategy is to limit expenses and Choice actually has some good options when you need to stay somewhere for a night or two at 8000 to 12000 points. IHG generally doesn't offer that level of redemption unless you are lucky and get Points Break.
Originally Posted by
Kremmen
Assuming airline miles are worth 1.7c and hotel points are at their average value on
Hotel Hustle, you get roughly the following return per e-rewards dollar:
Most airlines: 34c
BA: 48c
Most hotels (IHG, Hilton, Club Carlson): 25c
Accor: 36c
However, if you use miles for premium cabin awards and hotel points when the points value is good, it's easy to get double that benefit. Against that, Macy's return of 36c/$ is quite poor.
(Even at dollar for dollar, I'd not consider e-rewards fantastic value, unless you are getting status out of it, or you are using it to prevent an account expiring. If shopping vouchers were the only option, I'd give up e-rewards completely.)