I'm not sure how many points you have available / planning to use - but there is an elite only offer for 150,000 points where you can split 7 days into 3 different hotel stays within Europe (1 hotel for 3 nights and 2 hotels for 2 nights each).
We used this offer for a trip to London and Paris in Dec 2006 - and it was wonderful! Oddly enough, I was planning to do it again for a trip throughout Italy this year but I'm not sure if I will be able to squeeze it in. The only other thing I will say about doing this hotel hopper option, is that you can feel really "rushed" (not feel settled because you have to be on the move). But we enjoyed it nevertheless. Have fun on your trip!