For the best use of 2 free nights, I applied (and got approved) for Premier almost the same date as my Select 3 years ago, so both my anniversary nights will be issued around the same period going forward.

Now, is there anyone out there who also got Travelers in addition to Select and Premier? On top of that, having Travelers upgraded to Premier with 3 free nights each year?

Regarding devaluation, I plan to book a 4 nights stay with points at earliest possible date to lock in good rates, worst case scenario is you'll have to cancel but still get the points back, great if the rate ends up skyrocketing and your trip sticks.