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Yesterday, the Daily Getaways deals were packages of IHG points available for a little over 1/2 a cent per point. There were large quantities of these points available and none of them sold out on the first day. Since all of the package sizes are still available today, I want to illustrate when it can make sense to purchase some IHG points to put together an otherwise unaffordable family vacation by combining this offer with the new IHG credit card’s points and perks.
Let’s say you want to go to the swanky beachfront Kimpton Seafire Resort in Grand Cayman – and you really should add Grand Cayman to your list. We didn’t make it to this resort on our spring break to Grand Cayman this year, but I really want to check it out on our next trip to the island. However, paid rates at this property are seriously painful. In the lower season, rates of around $500 per night for a base level room are common, and in peak seasons you can see rates jump to $700 to $800 per night.
As swanky as this place may be, there’s no way that $500 – $800 per night is within the realm of reasonable for many of us just to book a base level hotel room. If you are flush with IHG points then just book the 70,000 per night room and countdown to your points-fueled vacation in paradise. However, what happens if you aren’t currently flush with IHG points or rolling in a bunch of cash? In that case, you need to get creative to come up with a way to make this vacation, or one like it, happen on a reasonable budget.
The new $89 per year IHG Rewards Club Premier Credit Card is offering a welcome bonus of 80,000 IHG bonus points after spending $2,000 in the first three months. If you add an authorized user who makes a purchase in the first three months then you get an extra 5,000 points. If you are starting without any IHG points, and you get that new credit card to trigger the welcome bonus, you will have a bit over 80,000 IHG points.
Learn more about Hotel Rewards Credit Cards
That’s enough points for one night at the Kimpton Seafire, but no one is (hopefully) going to Grand Cayman to spend one night, so you need more points than that for a real vacation. Via the current Daily Getaways packages, you could spend $749 to purchase 130,000 IHG points. I know that is a lot of money, but hang with me for a minute to see when it could be worth it.
With those 130,000 IHG points and the 80,000 from your IHG credit card welcome bonus, you would have 210,000 IHG points in pretty short order. The new IHG Rewards Club Premier Credit Card has a cool perk of giving you the 4th award night free, which means that your 210,000 IHG points would be enough for four award nights (3 x 70,000 points per night) at the Kimpton Seafire, or any other IHG property of your choosing since the award chart tops out at 70,000 points.
Spending $749 to purchase points and $89 on your new credit card’s annual fee is a substantial amount of money, but cumulatively it isn’t all that different than what it costs to book one paid night at this property. Instead, with that investment, you will get you enough IHG points for a four-night award stay in a 70,000 point per night room! That works out to about $209 per night on the cash spent for the points, which is a far cry from ‘free’, but it is a much more realistic number for an aspirational award stay than a $500 – $800 per night.
If you want to start putting together this sort of vacation right now, I think it is totally reasonable to jump on the Daily Getaways IHG point offers. However, if you aren’t in a rush, then you could bide your time and wait for IHG to offer better prices for their points directly. We recently saw a sale on IHG points for less than the Daily Getaways prices and the new IHG credit card even offers a 20% discount on IHG points purchased directly from IHG, so it may be a pathway to even better prices when you purchase directly.
How is your family racking up IHG points these days, and where do you plan to spend them?
Editorial Note: The opinions expressed here are mine and not provided, reviewed, by any bank, card issuer, or other company unless otherwise stated.