In our case, as we redeem CAT 6 or 7 travel packages primarily, I wouldn't consider a hotel with less than a 300/nt USD BAR. Generally, the ones we've used and consider were/are closer to 400-500/nt. To put it in perspective, I rent our intervals out at rates in that range (300-400/nt).

On a pure hotel redemption, as an example, I waffle at 200/nt on a CAT 5, if on a multi-day stay. We have one coming up in NYC and I have it booked on points right now but may change to cash as it's right at that level. The stay would be getting down near the one penny range and that makes me feel uncomfortable (that I haven't extracted enough value from the points). If it was 250-275/nt (pretty normal for NYC), I'd be comfortable using points, if it were a leisure trip. As it's not (tax deduction applies), I factor that in as well, plus the value of points earned from a cash expenditure. Lastly, I look at my wallet

As was mentioned, the MR system means different things to different people. Hopefully it's flexible enough to meet most people's needs and desires. I know, so far, I have no complaints.

Pat