There is always something satisfying about making a good value redemption, especially when you can see the saving in hard cash!
My wife has been sitting on 21,000 Starwood Preferred Guest points for a while. She got these when she took out the SPG credit card at the end of last year, when they had doubled the sign-up bonus from 10,000 points to 20,000 points.
We just discovered that she will be off to a Westin beach resort next May for a conference, which happens to fall during the half-term holiday. It therefore made sense to book a second, interconnecting, room in the same hotel and for the kids and myself to join her.
The cheapest rate I could find for the hotel (pool below!) was around £190 per night including taxes. Using Starpoints, it was 12,000 points per night. SPG runs a permanent ‘pay for 4 nights, get a 5th night free’ promotion, so for the 5 nights we want it averages out at 9,600 points per night.
I transfered some American Express Membership Rewards points across to make up the additional 27,000 points, and booked the room. This represents just under 2p per SPG point of value.
The 21,000 SPG Amex points we received were therefore worth around £400. There was a £75 annual fee for the credit card, but I got £45 cashback back. That means we received £370 of value just for applying for one credit card and spending £1,000 on it. When you see a result like that, you realise why collecting miles and points is worthwhile.
(I also managed to snag Reward Flight Saver flights for us all as well!)