Well, each of us here on FT run in different circles with our travel demands. I can tell you that -- in my experience -- this has only marginally been the case. I can think of three Sheratons that I know intimately where the SPG floor is simply the next-to-highest floor on the properties and a bottle (or two) of water is in the bathroom.

I've also been in more than one Sheraton that had seemingly SPG FLOOR on all but 2 or 3 floors in a highrise building!

I'm in the camp of those who declare that it MIGHT mean something occasionally, but more often than not, it means your floor has a SPG FLOOR badge next to the elevator.