A: The salad days for points holders may be ending. In general, demand for rooms is rising, and with it rates, according to Brian Kelly, founder of thepointsguy.com. That means hotels no longer have to be quite so accommodating to loyalists. In the past few months, Kelly notes, both Marriott and Hilton adjusted their loyalty programs so that it takes more points to book many of their most desirable properties. Starwood, meanwhile, upped the amount of money you need to spend for its SPG Cash & Points redemptions. Hotel points haven’t gone off a cliff the way airline miles did about five years ago, but they’re definitely losing value. So keep racking them up. You’re going to need more to get what you want.