Every two months IHG releases a new list of hotels bookable for just 5000 points per night. In recent times this has not been as brilliant value as when it first appeared 2 or 3 years ago.
The latest list is available for stays up to 30th April 2016.
Combined with this offer, you can purchase 15 000 IHG points for $90 using the cash and points trick which makes them 0.6 cents each. At this rate, you can effectively buy a night at any of the Point Breaks hotels for precisely $30. if you happen to be passing by a city that is offering hotels at such a rate, even if it is a Holiday Inn Express then you've got yourself a steal.