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A limited time 35% discount on purchased SPG points was set to end in late June, but got a last minute extension through today, July 14th. There aren’t any indications right now it is getting extended further, so I would assume that today is your last chance (for now) to score a 35% discount on purchased SPG points. Purchasing points is not for everyone, but it can absolutely make sense in some situations both for low and high end hotel stays.
Link: Starwood Buy & Gift Miles
A 35% discount on SPG points is about as good as I have seen outside of some rare better targeted offers. The 35% discount is valid on SPG purchases of 5,000 points or more, and at that rate you are paying as little as 2.275 cents per SPG point.
I gave this real life example once before, but in case you missed it… My parents have an upcoming trip with a night spent at the Four Points by Sheraton Kansas City Airport. For their dates, this property wants $175 + tax for a non-refundable prepaid rate with flexible rates starting at $195 + tax.
If you instead just used SPG points you only have to spend 3,000 of them for this property during the week, or 2,000 on weekends. Obviously, the best case scenario is that you already have 3,000 SPG points in your account to spend and you don’t have to use any cash. However, we all run low on points sometimes, so being able to buy SPG points at 2.275 cents per point via this sale (if you buy 5,000 or more), means you are essentially only paying $68.25 for this hotel night if you bought the points instead of the $200+ if you paid cash outright. That is like getting more than 65% off the going rate, and you get more flexibility than the cheapest paid rate offers.
To give a couple more fun examples, resorts like the Westin Grand Cayman, Westin Whistler, and Aspen Snowmass can be 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 all of these hotels can easily be well more than double that rate during peak periods.
For reasons just like the example I gave in Kansas City, I don’t like to be caught without any points to use in the major programs, so I think it is reasonable to buy a few SPG during this sale if you have experience with the SPG program and are confident you will get your money back out of them. 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 if you have them since they will provide a 2x bonus on purchased SPG points.
Up to 40% Bonus on Purchased Hyatt Points
While we are on the topic of purchased points, there is also a new 40% bonus on purchased Hyatt points running until August 8, 2017. To get the 40% bonus you have to purchase at least 10,000 points in one transaction. At that price you are paying just over 1.7 cents per Hyatt point, which isn’t fantastic, but can make sense in some situations and is about as low as the rate gets outside of Daily Getaways sales.
As another real life example of when this can make sense, the Hyatt Regency Wichita near my in-laws house is just 5,000 Hyatt points per night, which would be $85 all-in per night at 1.7 cents each. However, paid rates can easily be double that on some nights, so it can make sense to buy Hyatt points if the stars align at both low and high end category properties.
Additionally, those Hyatt credit cardholders who registered in time are getting 10% of their redeemed Hyatt points back until September 5th, making the deal potentially even better.
Do purchased points play into your family’s traveling more for less strategies?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.