As IHG One Rewards devalues, which hotel schemes still offer outsized value on peak dates?

IHG One Rewards, the loyalty programme for Holiday Inn, Crowne Plaza, Hotel Indigo, InterContinental etc, appears to have quietly devalued its redemptions.
It’s difficult to be 100% certain about this because IHG has no reward chart these days. The points price is roughly based on the cash price, so unless you tracked the old cash rate for a hotel it is hard to compare like for like.
For example, a New York booking I have with IHG for October was 61,000 points last month.

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