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Tomorrow (March 16th), is the last day you can purchase SPG points for a 35% discount via a current offer. If you purchase at least 5,000 SPG points, this discount drops the price down to about 2.275 cents per point, which is very solid for SPG points. You can purchase a maximum of 30,000 SPG points per year, and while I’d rather not purchase points and instead earn them in more organic ways, if you are running low on SPG points, it can make sense to buy a few so you have some on-hand.
SPG points have saved me hundreds of dollars on a one-night hotel stay made an otherwise unaffordable holiday slopeside stay in Whistler a reality, and most recently got us to a perfect beach Grand Cayman during spring break for just 12,000 SPG points per night when paid rates were $600+ per night.
If history is an indicator, we may see this discount again, but probably not for at least a couple of months. If you really needed to load up on SPG points right now beyond the 30,000 point maximum, remember that SPG permits the free transfer of points between people who share the same address, so you could each purchase points and then combine points down the road.
Link: Starwood Buy & Gift Miles
To give real-life examples of how this discount translates to potential savings on stays, the very well located resorts of Westin Grand Cayman, Aspen Snowmass, Sheraton Steamboat, and the Walt Disney Swan are available for as low as 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 SPG stay somewhere like the Four Points Sheraton Kansas City Airport (that helped me earn SPG Platinum status on the cheap) for 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 discounted points 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.
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.