I try to avoid the Chase portal for airfare, but I do use it for hotels occasionally. It depends on the location, but I’ve found some great deals, and even better hotels, through their portal. The Centurian Palace in Venice, and the Prestige Hotel Budapest are two such hotels that I doubt we’d have stayed at otherwise, but have now become on our regular place to stay list.
As both of those probably show, I tend to use it for international trips only, as the domestic offerings aren’t often worth the point expenditure without transferring to the hotel themselves. I do have my eye on that Maldives offering, but I have to convince my wife to get on a plane for 20+ hours. Even at business class, that’s tough for her to accept. 😉