You are substantially better off taking points and then converting them later, assuming you stay on a semi-regular basis. For example, there is the 'stay 5 nights in a quarter, get 10k bonus points' promo (registration details on the PC board) plus a '1,500 points for your next stay' new member bonus that anyone can sign up for (again, see the promos sticky). You can also take points from the current '2,000 bonus points or 1,000 miles for every 2nd night' promo that will run from 1 May, and can be double-dipped with the 'stay 5' promo.

If you only stay once or twice a year, though, I would go for direct deposit to BAEC - its a lot less hassle.