I haven't stayed at that hotel but I have stayed at an apartment in the same neighborhood. It's a nice area (lot of residential apartment buildings), it's quite close to Broadway (probably 10 minutes to 42nd street), very close to Macy's and Penn Station. While I don't know if it's worth the points, you might want to check a website like hotel.com to see what the going room rate is. I wouldn't hesitate to stay in that area.