I have so many AA miles (over 900,000 in my account to use now) that I prefer hotel points. I stopped getting hotel points quite awhile ago. Hotel points seem to me to be more valuable, For example 3000 points for low end Sheratons. Holiday Inns give points for gifts. Even buying tickets on American Express is a better option than the double points that Citibank Platinum gives for buying tickets on American. You can even still get 500 Sheraton points for renting from National. Hotel elite levels are the same whether you accumultate their points or airline mileage.