The current list is valid for stays from now through 10/15/12. Hotels can sell out quickly.
I stayed using PointBreaks in Toronto And Tiberias, Israel and got awesome rooms at both hotels even though the hotel is only reimbursed $30/night on PointBreaks stays.
You can stay in any PointBreaks hotel for 5,000 Priority Club points. If you already have 5,000 Priority Club points in your account then you can buy increments of 10,000 points for $70 as described below.
If you don’t have points yet Priority Club sells 5,000 points for $67.50 or you can instantly transfer 5,000 Chase Sapphire Preferred Ultimate Rewards points into 5,000 Priority Club points.
After you have 5,000 points in your account you can book any cancellable 15,000 point hotel using cash and points for $70+5,000 points. Just search for reward points stays in any metro area and you should find a hotel for 5,000 points+$70. When you cancel the hotel you will get 15,000 points in your account. In other words the cost per each 5,000 point stay is just $35 after you already have 5,000 points in your account.
Another nice thing about airport hotels is that they often let you park your car for free or for discounted rates while you travel and provide free shuttle service to the airport.
Sample hotels for $35 per night:
The current list is pretty sparse, but here are a few of the current options:
-Staybridge Suites Toronto-Markham
-Holiday Inn Phoenix-West
-Holiday Inn Express, Newport RI
-Crowne Plaza Englewood, NJ Sold out!