Gaucho100K, in answer to your questions:
1. Don't believe HHonors can be transferred to QF 9tried to do it last year direct HH-QF but found out wasn't possible). Yes,
SPG can - I have transferred 3 blocks of 20K points in the past year without any problems. One benefit, transferring 20K SPG = 25K QFF points (bonus 5K from SPG for doing it!)
2. IMHO, yes. See
QF T & C's - Managing your Points which states in part: (bolding mine):
For members that have had points activity after 15 March 2001, there is no expiry date on your Qantas Frequent Flyer points - provided you earn or redeem points from your account at least once every three years. (This includes earning or redeeming Frequent Flyer points with our program partners and converting Reward points from a Qantas aligned credit card program.)
My understanding is that the
QFF Program Partners include
many fine hotels including Hilton & Sheratons...so one stay would suffice, rather than transferring many thousands of points.