Depends a lot on what you like to do. I got my 140k bonus and have used 75k for a 2 night stay at one of their Indigo Hotels in Rome next summer (fingers crossed of course). That was $400 per night outright so a good use of the bonus.

I also stay a lot at a Holiday Inn by Disneyland / Knotts at 25k per night ($200 retail) so plan to use book a few of those next year. There are other boutique hotels like the Kimpton's that are fairly high end. There's a Kimpton Canary hotel in downtown Santa Barbara, with a great walkable location and rooftop pool / bar that can be had for 50k-75k points per night and retails around $600 per night, so a great value there.