I just checked out the pre-approved Hilton Aspire offer of 150,000 tonight.
Its a ton of points but the problem with redeeming points for hotels is that you are not earning them. For most of your trips paying for hotel rooms is your #1 earning opportunity.
Let's say you take that 150,000 bonus and redeem it for rooms that are 7,500 a night (20 total nights). If you were to buy those same 20 nights at $200 dollars a piece with AMEX Gold earning 4% that is 16,000 points you are missing out on, not to mention another 16,000 avios (%4) if buying through hotels.com. 32,000 points that can be deposited in BA and at 9 cents a point could be worth as much as $2800 dollars.