In the end it depends on what else you can get in Riga for 100 all-in per night. Maybe you’ll get a nicer hotel elsewhere with these points like you said. Also depends on travel frequency. Even using a 0.4 valuation for 160k points for 5 nights shouldn’t matter as much if you find a good enough hotel for under $640 for 5 nights if that hotel is adequate. Else go for the luxury and maybe find other hotel sub offers.