Some conversion samples from highest to lowest money value per point from €0.00798 to €0,00247 per HH point. Please note the room availability calendar ("flexible dates" option) seems not to show standard room reward rates, only either lowest premium room reward rates or standard (money) rates (in Hilton Honors points mode).

The value per point is not consistent, but it is obvious that Premium Room Rewards have 30-50% less value than Standard Room Rewards, at one hotel I found even 70% less value for a premium room reward rate compared to a standard room reward rate (La Bagnaia, Italy).

(Screenshots in this post)

La Bagnaia Golf & Spa Resort, Siena (Italy)
HH points 50,000 (Standard room reward)
€399 Honors Discount rate (P&M rate)
€0.00798 value per HH point
Please note room availabilty calendar shows Premium rewards room rate as lowest points rate (169,000).

Hilton Bonn (Germany)
HH points 16,000 (Standard room reward)
€86 Honors Discount rate (P&M rate)
€0.005375 value per HH point

Waldorf Astoria Berlin (Germany)
HH points 39,000 (Standard room reward)
€200 Flexible rate (P&M rate)
€0.0051282 value per HH point

Hilton Garden Inn Milan Malpensa (Italy)
HH points 12,000 (Standard room reward)
€61 Honors Discount rate (P&M rate)
€0.0050833 value per HH point

Rome Cavalieri (Italy)
HH points 69,000 (Standard room reward)
€346 Honors Discount rate (P&M rate)
€0.0050144 value per HH point
Please note the room availability calendar does not show any points rate in this case but the Best Flexible rate (€365).

Rome Cavalieri (Italy)
HH points 183,000 (Premium room reward, Imperial Rome view)
€693 Honors Discount rate (P&M rate)
€0.0037868 value per HH point

Hilton Bonn (Germany)
HH points 250,000 (Premium room reward, King Tower suite)
€821 Honors Discount rate (P&M rate)
€0.003284 value per HH point

Hilton Bonn (Germany)
HH points 30,000 (Premium room reward, King guestroom w/ courtyard view)
€96 Honors Discount rate (P&M rate)
€0.0032 value per HH point

Waldorf Astoria Berlin (Germany)
HH points 3,116,000 (Premium room reward, Presidential Suite)
€8,150 Best available (P&M rate)
€0,0026155 value per HH point

(Screenshot in the next post)

La Bagnaia Golf & Spa Resort, Siena (Italy)
HH points 169,000 (Premium room rewards, Queen superior room)
€418 Honors Discount rate (P&M rate)
€0,0024733 value per HH point