OP is in Inno-tech. Maybe this is understandable.
When I buy software the Inno-tech company retains ownership and can cancel my license without compensation if I improperly use the software.
When I buy points the hotel company retains ownership and can cancel my points without compensation if I violate the T&C of the hotel company.
They own the points. I buy permission to use them knowing that I do not own them. When they take them back, I might be surprised but I never did own them.