Am I correct in assuming you are US-based (as you reference the dollar)? 1000-2000 points per night seems low to me considering US and the fact that IHG has a double point promo running most of the year.

You can also stop point expiry by buying a digital item (for 500 points or so) in IHG's store.

I'd take the IHG points and the IHG member rate over the abysmal mileage earning. It becomes even clearer if there is a corporate code you can use.