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Depends what you are looking for: in Thailand your points will be worth more than in Japan, but if you’re looking for cities to explore and culture, Japan has a lot more of that.
You wouldn’t want to spend your day in your hotel if you are in Asia and you can find way cheaper accommodation than Marriot(this is very $$$ for Asia) and gets way better service/bang for buck than in the US. Would put my point toward other stuff if possible.
Transfer to flights or for destinations that you want to get all-inclusive. (I.e. not leaving the hotel)
Pre-pandemic data: Mid tier hotels(new buildings in prime location) one room <$100 all in for JP big cities. South East Asia and China are cheaper than that. HK and Singapore are the only exception. Marriot is way(2x+ ) above this price range and you probably wouldn’t see the inside of your room that often.
You can redeem 240,000 for 100k airline miles which gets you business class
I'd trade you 120k points for 2 Hilton free night certificates, diamond level so free breakfast, lounge access and possibly room upgrade, which you can use on any Hilton property worldwide.