I have done this but not for status. Remember when they would run the Summer promos when you had I think three stays and received a voucher good for two free weekend nights at cat 1-5? My friends and I always go to the Renaissance Meadowlands Hotel every Summer. Right before I did two one night stays at a FI by my work where we get a $40 rate. Did not stay either night but for $80 I got a stay for 2 nights worth $119 or so a night.