Originally Posted by
UKtravelbear
Dynamic pricing has reduced the arbitrage opportunities to get outstanding value for points over cash stays.
Points stays are usually only for the lowest category of room - which may not suit your needs
But as point stays usually have close to stay cancellation terms it's possible to do regular checks and cancel and rebook should the points needed for a stay reduces.
There have been ocassional discounts on points bookings which can also help your points go further
At a nominal cost of .05 per point, every one of the rooms in the example above is substantially cheaper with points, even without the credit card points rebates or 4th night free. I think it's more rare to find the cash rate lower.
A bigger problem I've encountered is the unavailability of points based booking dates, which only open up close to the stay (if at all).