Depends on the scenario. If it was a flight home and I had to wait 6 hours, I might just nap, stay awake, or just sleep when I get home. Getting to and from the airport may also be in a hassle in itself. If it was on the way to a trip, and a longer delay, I might be more inclined to get a room as to not be tired for once I arrive.
I couldn't see myself paying $500 as some are saying. What, do I need a St Regis just to go to bed?