What might be a good strategy for an infrequent IHG user? I stay at an IHG hotel anywhere from 0 to 6 nights per year. I only earn points from hotel stays, not a credit card.

Strategy 1: earn airline miles for stays. Might earn 150-200 miles per stay. Don't have to worry about IHG point expiring.

Strategy 2: earn IHG points. Sometimes can earn more if there is a low season or winter promotion. risk of points expiring. Might earn 1000 to 2000 points per stay so zero to 1000 to 8000 points per year. Maybe redeem for a hotel stay every 3-4 years.

Math:
1 stay - 200 airline miles versus 1000 IGH points
10 stays - 2000 airline miles versus 10,000 to 12,000 points
20 stays - 4000 airline miles versus 20,000 to 25,000 points, $40-60 worth of airline points versus $125 hotel stay free

So IHG points are worth more if they don't become expired and you can redeem it for a room. Otherwise, airline mile are a safer bet. In contrast, Hilton Honors requires that you reach a certain level, possibly 10,000 Hilton Honors points before you can convert the points to miles. In Hilton's case, one has no choice. One must earn points and then, later on, decide to redeem it for airline miles (worse rate) or a hotel room (better redemption rate).

What do you think?