Interesting. I usually use this to get 2-3 nights at one of three good NYC hotels when SPG would only get me 1-1.5 nights for the same number of SPG points. It's even possible to use 25,000 SPG points this way to get 6 free nigths at NYC hotels (e.g., Quality Hotels, Clarion, Comfort Inn, etc.) of the not-so-special variety. Given prices for NYC hotels, it's a great deal both ways.