It's actually quite a smart promo. Where is the pain in the hotel sector? At the bottom end, with rates decreasing. At the top end rates continue to shoot up.

If you stay in economy brands then this is the promo for you - $15 of points per stay and an extra ENC. The promo budget has basically been diverted to encourage those people. It won't drive people to St Regis but your preferred St Regis will just have bunged its rates up another 5-7% and will still have record occupancy.