Absolutely. I'd say StR is clearly the superior property on every front, EXCEPT the PH Maldives makes the best damn maldivian fish curry I've ever had in my life. The St Regis tried, and made a great attempt, but it wasn't nearly as good as the PH Maldives. But if you consider the cost differential you could argue if you get twice the experience as the PH Maldives. As a redemption, the PH Maldives at 25k per night is an amazing usage of points, so it can become a much friendlier option budget wise. Given the St Regis has a true kids club (an excellent one at that), I'd say that alone makes it worth the price difference (to me!).