best use of Citi ThankYou points is booking travel through their site. You can get $1.33 per point from it. I just booked a flight from LAX to Chengdu, China with 60,187 Points + $227.58 (which included taxes and fuel charges). Ticket would have cost me over a $1,000+ to purchase otherwise.
Nice, I've traveled with them a few times too and it worked out well but it was a number of yrs ago and only at a 1 for 1 ratio. I'll take a look to see if they've bumped up the benefit for my account. Which card do you have?