Have a FHR 3NF booking at the Excelsior in Milan this Nov. I called the FHR agent to confirm everything as I read it and took screnshots as well.

Being a Starwood property and having SPG Gold status, I hope this works well. My FHR experiences have been great so far.

As far as the FHR rates/benefits vs prepaid booking through AMEX Travel or Expedia, it was a no-brainer. Cancelable/Refundable, $85 F/B credit, free breakfast, early check-in and late check-out, third night free, and $50 spa credit. All for $30-$50 less than a prepaid three night booking? I hope it isn't too good to be true. I will post once we stay and everything shakes out...