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The true answer is it depends on the hotel. The only true measure of is one nights stay. To get a one night stay at the Westin Michigan Ave in Chicago is 12,000 SPG points or if you booked directly through CSR is 6,763 points. To earn 12k SPG points would require $6k in spending at SPG property, to earn 6,763 CSR points would require $2,254 on travel.
Now the Westin River North Chicago, IL is still 12k SPG point or 13,067 CSR points, still would take $6k of spending on SPG hotels on the SPG card to get that but would now take $4,356 on travel on the CSR card.
As some wise fish said - "the answer is always CSR"
SPG Amex gives you 2 points a dollar which is 4-6% cash back depending on how you value SPG points. No clue about CSR someone else chime in
CSR
^whether it is the correct answer or not
SPG hands down for me. chase UR points are easy to get now with 3x on restaurants and other travel, so would prefer to put the 3x SPG on the SPG points for diversification.
2*
Woah mind blown a2. Can you give any examples of CSR redemption being more expensive than SPG redemption?
Just keep in mind if you book through CSR that SPG won't recognize your status and you won't accumulate nights.
@DD1, not off hand, at @A1, pretty sure you can add a reservation to your SPG account to a stay using the confirmation number and/or tell the front desk when you arrive
I haven't done it personally, just reporting what I've read before deciding not to try. If it actually works that'd be great.