I'm almost ready to move back into the Hilton fold after last year's poorly executed points devaluation (I remain Diamond only because of a targeted "stays count quadruple" promo that HHonors offered, together with the free nights promo). But redemption requirements are still a significant barrier. HHonors fares very poorly against Priority Club, even allowing for a somewhat higher average quality level for Hilton Group properties. Not only does almost every Priority Club property go for 25K points per night or less, but most of them offer a points and cash option most nights, so you can end up paying between 5K and 15K points per night, plus a tax-free $60 USD. A huge difference from Hilton. SPG also offers points and cash, with typical redemption requirements of 2.8K points and $45 (vs. 7K), 4K points and $60 (vs. 10K), or 4.8K points and $90 (vs. 12K to 16K). In short, very significant point savings that make a huge difference when the cheapest paid rate is $200 or more. Yes, HHonors gives stay credit on reward stays, unlike other chains. But the top tier requirement is 28 stays per year, vs. 25 at SPG and Hyatt. HHonors needs to offer a points and cash option, even if they have to stop crediting reward stays.