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So, in this case, 270,000 Marriott points are approximately equivalent to 100,000 SPG points. With SPG, you get 5,000 more miles, but with Marriott you get a 7 night stay. If we ignore the differences, we can say that we would need 2.7 Marriott points per SPG point in order to break even.
Below you will see, in order, the redemptions that give you the best value. As a hotel loyalty program, Marriott Rewards Points gets you get the highest value when you use them to book free nights at a Marriott property. Hotel reservations are generally the most rewarding option, with values above one cent per point.