It's not a figment of your imagination: A hotel loyalty program does exist that offers cash back for your stays.
What it does: The reward program offers 5% cash back through PayPal or e-payment sources and gift cards such as Visa, American Express, bitcoin, Amazon, iTunes, Best Buy, Bloomingdale's, Target, Starbucks, Toys R Us and more.
What's hot: Travelers who use this hotel loyalty program have even more options for rewards. Travelers also can choose a 10% back reward for using Guestbook's "Trip Cash" feature, which is applied to a stay at a hotel in its portfolio. The hotels include four- and five-star independent and boutique properties that are not part of mainstream chains. There are plentiful luxury options in large cities, but budget travelers shouldn't be discouraged. I found three-star hotels in the $100-ish-a-night range in California and London. Guestbook has more than 500 hotels in 50 countries and is planning on expanding to 600 to 650 hotels by year end.
What's not: The results were inconsistent when I typed in my destination in the "Where are you headed?" search bar. I had more accurate results when I used the "Browse Hotels" link and homed in on a city or region on the global map.