Scubaccr:
I appreciate your tabulation of the results of the new program, and I don't take exception with your stated conclusion.
But for me, the more obvious reason that so many properties are still available is that the new redemption levels make the program much less attractive. For the first time in memory, I have not booked a single PB property this quarter.
To reflect on two personal experiences, I have stayed at the HIE-Munich Messe and the CP-Venice East several days each for 5000 points per night. In each case I took a commuter train to the city center, leaving my rental car in the hotel parking lot. These were great experiences, and considering the value I received from PB, worth the inconvenience of the remote locations, the time and money spent commuting and paying for a rental car that I wasn't using. But at 15000 points a night, I'd consider other options