Now this is an interesting one. I've taken advantage of the FHR program several times, but with hindsight feel like I've been taken for a sucker.

1. The FHR rates aren't a great improvement over rack rates, in my limited experience.

2. Sure an upgrade to the next room category is a sweetener, but don't you feel a bit let down when it's just an amenity you get.

3. I've found that joining programs like Leading Hotels of the World Leaders' Club or Luxury Small Hotels' Club have as much chance of resulting in upgrades, often at substantial savings over the quoted FHR program.

4. Outside of N America, the # of hotels participating in the FHR program is, in my opinion, fairly limited. I've just booked a RTW itin for later this year and despite stopping off in around 12 world capitals, found that there was only a FHR program offer for one of these.

Per EchoVictor's earlier post, seems like a neat trick to pull off if you can get away with it. The gamble (if you'll forgive the pun, given that much of the discussion seems to be focused on hotels in Vegas) is that you're dealing with a hotel receptionist who can distinguish an AmEx Platinum / Centurion over hundreds of other lookey-likey cards, or indeed whether even if they do, your business is perceived to be of greater value.