What exactly is a 3 course Buffet though? My understanding of a buffet is loads of dishes to choose from a central area with lots of pots, from which you dish it out of. I would presume therefore they mean 3 courses? Somewhere like the CP St.James, that would come to about £45, make it £50 for the glass of Wine.

You can't compare that, so easily, to the price of a hotel room you could have redeemed it for, as you are missing out on about 7k by redeeming, rather than paying money for said room.