It comes back, last time I explained the PC Pointbreaker here and I personally took advantage by booked a 5000 points Holiday Inn near Portland, OR airport for my family’s memorial long weekend Oregon excursion.
Essentially, every 3 months PC(IHG) will renew a group of 5000 points hotels around the world, called PointBreaker and if your travel plan is falling into one of the hotel night, grab it, it’s a good deal. I always use priceline to book hotels, however, for 5000 points or $35(explained below) per night all inclusive, you can't beat that.
Take a look at how to spend $35 for those hotels from MileValue.com, it’s a loophole, but I do believe PC(IHG) has no problem if you “abuse” it. J
Also, I’d like to point out that if you want to book those 5000 points hotel night, act it quick, because it will sold out pretty quickly.