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If you are one who likes to purchase SPG points to travel more for less, know that they are again offering a discount on purchased SPG points! Just was offered towards the end of 2017, you can again get 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 solid for SPG points. Personally, SPG points just saved me hundreds of dollars on a one-night hotel stay and made an otherwise unaffordable holiday slopeside stay in Whistler a reality, so I like to be sure and not let my SPG account balance get too low.
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 couple of times in 2017. Each SPG account can only purchase 30,000 SPG points per calendar year, however, it is a new year and remember that you can transfer SPG points for free between two accounts that share the same address. If you really wanted to load up, this means your spouse, partner, etc. who shares the same address could also do the same and then you could combine points down the road.
At this 35% off discounted rate, you are paying 2.275 cents per SPG point. To give real-life examples of how this translates to potential savings on stays, the very well located resorts of Westin Grand Cayman, Aspen Snowmass, Sheraton Steamboat, and the Westin Whistler are 9,600 SPG points per night (plus applicable resort fees) on five-night award stays. This comes to about $218 per night at 2.275 cents per purchased point.
That is still not cheap, but paid rates at these hotels can easily be well more than double or triple 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 (that helped me earn SPG Platinum status on the cheap) at 2,000 points per weekend night would come to $45.50 at that discounted rate.
To give a more family-friendly example, the Category 2 Sheraton Lake Buena Vista Resort in Orlando can easily sell for $150 per night on peak weekends, but you can also book it for just 3,000 SPG points per night on those same weekend nights. At 2.275 cents per purchased SPG point, that comes to about $68 per night using purchased points. Over the course of a multi-night stay, your family could save hundreds of dollars by using purchased points instead of paying the going 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 both provide a 2x bonus on purchased SPG points.
This 35% discount on purchased SPG points is scheduled to run until March 16, 2018.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.