Update. The general gift cheques were discontinued. Marriott Elite members can still continue redeeming gift cheques at discounted prices.
Exchanging Marriott Rewards points to Marriott Gift Cheques is discontinued as of December 31st of this year. It has been a good option to use Marriott Rewards points for incidentals using award stays or even pay for the stays.
The current offer is 135000 Marriott Rewards points to $1000 in gift cheques. Starting next year you need 190000 for $1000 in Marriott gift cards. The current award values Marriott rewards points at $.0073/point and the new one at $0.0053. This is a rather significant change that Marriott has tried to just bury on their website. You need 41% more Marriott Reward points to issue the same award in gift cards instead of gift cheques. Spa and dining certificates are being discontinued as well.
This year Marriott has unannouncedly cancelled their Elite Executive Offer (EEO) for a free weekend night when paid for one night, and their all inclusive awards at some Caribbean resorts.