Compensation for 'downgrade' / delayed flight on Qantas QF128 SYD-HKG

My friend was scheduled to fly QF128 last night from HKG to SYD on Business. Flight was initially delayed, then cancelled. They offered to let him fly a CX flight on Economy, as Business was full. He turned it down - so now flying tonight on the same Qantas flight.

Would you expect any compensation? If so, what?

The cost of his hotel room, meals and HKG airport transfers. 

Interesting predicament. If he'd flown CX economy (or even premium economy) then QF would certainly have been up for some make-good arrangement such as points or cash; but having declined the CX flight and opting to travel one day later, he may be in a less-strong position. I'd still suggest that QF should offer some make-good though.

It might also depend on his FF status. Qantas are normally pretty good with providing some form of compensation especially if your friend was booked in Business. If he is also a high status FF then it is more than likely that he will get something.

What compo would be given if this was a points upgrade to Business