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If you have been hoping to scoop up some Starwood Preferred Guest points at a discounted rate, now through December 29, 2017, is your lucky timeframe as they just launched a discount of 35% on SPG point purchases of 5,000 points or more. This drops your per point price to about 2.275 cents per point, which is pretty solid for SPG points.
A 35% discount on SPG points is about as good as I have seen it get outside of some rare targeted offers. We last saw this same 35% discount a few months ago over the summer. Each SPG account can only purchase 30,000 SPG points per year, however, remember that you can transfer SPG points for free between two accounts that share the same address, so your spouse, partner, etc. who shares the same address could also do the same and you could combine points down the road.
At this 35% discounted price you are paying as little as 2.275 cents per SPG point. To give a real life example of how this translates to savings on stays, the very well located resorts of Westin Grand Cayman, Westin Whistler, and Aspen Snowmass can be booked for as low as 9,600 SPG points per night (plus resort fees) on five night award stays, which would be about $218 per night at 2.275 cents per purchased point.
That is not cheap, but paid rates at both of these hotels can easily be well more than double that rate during peak periods, so it can make sense in some situations to purchase SPG points instead of paying cash for stays. At the lower end of the spectrum, a Category 1 stay somewhere like the Four Points Sheraton Kansas City Airport at 2,000 points per weekend night would come to $45.50 at that discounted rate.
If you do decide to take advantage of this offer, I recommend paying with the Starwood Preferred Guest® Credit Card or Starwood Preferred Guest® Business Credit Card since they will provide a 2x bonus on purchased SPG points.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.