There are several international Holiday Inn Resorts in true resort locations like the Maldives (35,000 points per night), Phi Phi Island in Thailand (35,000 points) and Aruba (25,000 points per night). Availability looked wide open worldwide for dates I checked April 21-23, 2014.
Each of these properties offers Points & Cash whereby $70 per night reduces the cost of the hotel reward stay by 10,000 points per night.
All these properties can be seen on a World map or click on the links below to see individual hotel property descriptions.
Aruba-Beach Resort & Casino (25,000)
Grand Cayman (25,000)
Le Touquet (30,000)
Nice-Port Saint Laurent (35,000)
Dead Sea (20,000)
Half Moon Bay (25,000)
Changbaishan (15,000) [ski resort on border of North Korea]
Baruna Bali (20,000)
Kandooma Maldives (35,000)
Alpensia Pyeongchang [ski resort] (20,000)
Phi Phi Island (35,000)
Phuket Mai Khao Beach Resort (20,000)
Vanuatu originally opened as an InterContinental Resort in 1975, rebranded as Le Meridien and now is a Holiday Inn Resort.