AFAIK the amount a hotel is paid for redemptions bears no relation to the amount of points required.
I am pretty sure that I read in another thread that the reimbursement rate depends on hotel occupancy at check-in and has no relation at all to the points you spent.
In addition, if I remember correctly, the base reimbursement is very low-something on the order of 10% of rack, and increases dependent upon occupancy rate.