Originally Posted by
Ripley62
The infatuation might be the cost of room that would equal the minimum I’d get, without an upgrade, with my status.
Yes, I think that's the fairest way to calculate a redemption value - base room, using cheapest refundable rate (typically member rate or AAA). The upgrade is a status benefit (and getting a decent room on award stays is IMO perhaps the #1 benefit of status).
And for comparison, I just paid $7000+ THB for a night at the Athenee. Prices have been quite high in Bangkok lately. SR would have been over $9k that night, and SGS was over $6k.