Happily my card anniversary is in September so I have access to this pretty soon.

I think I have a one-night stay for a college football game at an independent hotel in November that this would work great for.

Doing the math, and assuming that you earn 10x UR on a Chase Sapphire Reserve hotel bookings (and those points are worth 1.5 cents), but you earn 5x UR on a Chase Sapphire Preferred hotel booking (and those points are worth 1.25 cents), you are better off with the Chase Sapphire Preferred up to hotel bookings of about $571.40 in any given year (accounting for the amount and value of the points you earn, and the $50 credit). If you assume the points are worth the same at 1.5 cents, break even is at about $680 in hotel spend. So I think I will likely come out ahead. So the CSP benefit (along with Citi Premier benefit) is pretty solid for one or two night stays at independent hotels, provided the pricing on the portals is competitive