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What are Marriott Bonvoy hotel points worth?

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This article is our attempt to decide what Marriott Bonvoy points are worth. How should you value them?

Valuing miles and points is a thankless job. We have always published articles on what Avios points are worth, but that Avios article is so complex that it simply proves my point.

In the face of constant reader requests, however, I wrote this series of articles on how we value each of the major hotel points currencies. We are updating the articles this month.

What are Marriott Bonvoy points worth?

Here are links to the full series:

The reason I have changed my mind after all these years is that I have found a methodology that works for me. It takes a subjective valuation and then explains the boundaries around it. Or, in plain English:

  • I will tell you (without justifying it) what I think a Marriott Bonvoy point is worth
  • I will tell you, on the upside, how far wrong I can be (which is good news)
  • I will tell you, on the downside, how far wrong I can be (which is bad news)
  • I will tell you what Marriott Bonvoy points are worth if you turn them into something else – usually airline miles – which effectively locks in a floor value

Why I think ‘range’ is important when valuing hotel points

When we look at using Avios for business or First Class flights, the ‘cash alternative’ is often a poor comparison. Most HfP readers don’t want to, or simply can’t afford to, pay cash for business or First Class flights. Their choice is Avios or nothing. Even if you can afford to pay, what are you comparing with? A cheap non-refundable sale flight? A pricier flexible ticket? The cost of an indirect flight, not on BA?

Hotels redemptions are different:

  • you stay in far more hotels each year compared to the number of premium cabin flights you take, so you can be selective about when you use points
  • you can usually afford to pay for a hotel if you choose not to use points
  • there are far more options in the hotel market than in the flight market – most people only have a lot of miles in one airline programme, whereas you are likely to hold hotel points in multiple schemes
What are Marriott Bonvoy points worth?

It is easy to sit on hotel points until you get a good deal

The net result of the three facts above is that it is easy to turn down a hotel redemption when it doesn’t seem like good value. You can pay cash or redeem via another hotel scheme instead.

Here is the crux of what I am trying to say. If you compare two hotel schemes:

  • scheme A usually gets you 0.3p per point but if you are lucky you can get 1p
  • scheme B usually gets you 0.4p per point but if you are lucky you can get 0.6p

…. scheme A may actually be the best.

Most people who try to ‘value’ hotel points don’t take this into account.

If you redeemed points for every stay you did, regardless of the cash price, scheme B would be the best. No-one does this though. In reality you can pay cash for your stays in scheme A until the day when a bumper redemption arrives and you can get 1p.

What are Marriott Bonvoy points worth?

With our methodology out of the way, let’s take a look at what Marriott Bonvoy points are worth.

To keep things simple, we do not adjust for the fact that you would earn points back if you paid cash instead. This can have a noticeable impact when generous bonuses are running.

On the upside, members get ‘five nights for the points of four’ when redeeming. This is available to all members, not just those with elite status. We don’t factor this in.

What are Marriott Bonvoy points worth

The HfP average valuation of a Marriott Bonvoy point:

0.5p

We are not justifying this valuation, except to say that I have looked at enough Marriott redemptions over the years to be happy with it. Anyone who knows Marriott Bonvoy should know that this feels right. A £250 hotel will usually be around 50,000 points

At present, no hotels, even the most luxurious ones in the portfolio, cost more than 130,000 Bonvoy points. You need to remember that Marriott Bonvoy has more top hotels, via St Regis, The Ritz-Carlton and The Luxury Collection, than other major chains. At 0.5p this translates to £650. Given Summer 2022 hotel pricing, it hasn’t been difficult to find luxury hotels in key cities selling for far more than this.

How high can value go on the upside?

OK, we now come to the elephant in the room.

In March 2022, Marriott Bonvoy dropped its reward charts. From 2023, there will be no limit to what an award night will cost. When cash rates are through the roof, we can expect points rates to do the same.

We are currently in a temporary holding phase, where Marriott has imposed a 130,000 points cap. This is due to be lifted in October 2022 for bookings in 2023.

When the cap goes, we can expect to see top hotels such as St Regis New York, which often cost £1,000 per night for cash, costing 200,000 points per night or more. A number of hotels are likely to hit 250,000 points per night.

This isn’t a smart move. Not only does it make luxury hotels look unachievable to the average member, but it removes all incentive to hoard Marriott Bonvoy points. Why bother, if you get the same pence per point value at a Moxy? Surely it is better to spend your points quickly before any further devaluations occur?

Hilton Honors was smarter. It uses a hybrid dynamic pricing model. When cash rates are low, points prices fall. When cash rates skyrocket, there is cap to ensure that the points price does not hit an embarrassing level. There is still a reason to build up your Hilton points rather than cashing them out at any opportunity.

Until we know how Marriott Bonvoy will implement dynamic pricing, it is impossible to say what sort of upside you could expect for your points on a good day in 2023 and beyond.

What are Marriott Bonvoy points worth?

How low can value go on the downside?

Irrespective of what happens with dynamic pricing, there is a floor to what you will receive for your Marriott Bonvoy points.

Marriott offers ‘Instant Rewards’, which allow you to redeem your points towards your hotel bill at participating properties.  Details are on the Bonvoy site here.

The chart runs from 250 points for $1 credit to 125,000 points for $500. Irrespective of how few you use, you are getting 0.4 cents (currently 0.35p) per Bonvoy point.

If Marriott Bonvoy devalues hugely tomorrow, what is my escape route?

This is our floor price. What can you do with your points if Marriott Bonvoy devalues massively overnight?

This is very much a ‘live’ issue, because it is possible that the ‘pence per point’ value set by dynamic pricing will be terrible. I consider it unlikely but it is a risk.

With Marriott Bonvoy, the best value is to convert your points to airline miles. Importantly, you get more value by doing this than redeeming for some room nights.

Use Marriott Bonvoy points for frequent flyer miles

Marriott Bonvoy has, by far, the most generous airline transfer rate in the industry.

Bonvoy points transfer to over 40 airlines. The transfer rate is 3:1. If you convert 60,000 points at once, you receive a bonus of 5,000 miles, giving you 25,000 miles in total.

If we assume an airline mile is worth 1p, then you are getting 0.42p per Marriott Bonvoy point if you convert in batches of 60,000 points. Convert in smaller chunks and you are getting airline miles worth 0.33p per Marriott Bonvoy point.

This ‘worst case’ scenario is actually pretty good when you look at the numbers.

The list of Marriott Bonvoy airline partners is here.

Use Marriott Bonvoy points to book a home rental

Marriott has a home and villa rental platform called ‘Homes & Villas by Marriott’ – see here.

All properties globally are billed in US$ and if you choose to pay with points you get 0.6 cents (0.52p) per Bonvoy points.

Again, this is surprisingly good – as good as our ‘average value’ of 0.5p for a hotel redemption.

What are Marriott Bonvoy points worth?

In summary …. what do we think Marriott Bonvoy points are worth?

  • on average: 0.5p per point, but this may change when we see what value is used for dynamic pricing
  • on a very good day: it isn’t clear, until we see the full impact of dynamic pricing in October 2022
  • if you transfer out to airline miles in a worse case scenario: 0.42p per point when transferring in chunks of 60,000 points, or 0.33p for other quantities
  • if you are happy to book home and villa rentals with your points, you are guaranteed 0.6 cents (0.52p) per point if you pay with points

As to how this should impact your behaviour:

  • if you tend to visit prime hotels in prime locations at prime times of the year, you should try to lock in redemptions now before dynamic pricing takes full effect later in 2022. These are the hotels which are likely to increase sharply in points price.
  • if your travel style is more about travelling off peak and staying in mid range hotels, you may see the points cost of hotels dropping when dynamic pricing is introduced. However, as Marriott Bonvoy points redemptions can be cancelled without penalty, it does no harm to lock in bookings now for 2023 and rebook if the points price drops.

How to earn Marriott Bonvoy points and status from UK credit cards

How to earn Marriott Bonvoy points and status from UK credit cards (October 2022)

There are various ways of earning Marriott Bonvoy points from UK credit cards.  Many cards also have generous sign-up bonuses.

The official Marriott Bonvoy American Express card comes with 20,000 points for signing up, 2 points for every £1 you spend and 15 elite night credits per year.

EDIT: Until 8th November 2022, the sign-up bonus on the Marriott Bonvoy American Express card is doubled to 40,000 points!

You can apply here.

Marriott Bonvoy American Express

40,000 bonus points (SPECIAL OFFER) and 15 elite night credits Read our full review

You can also earn Marriott Bonvoy points by converting American Express Membership Rewards points at the rate of 2:3.

Do you know that holders of The Platinum Card from American Express receive FREE Marriott Bonvoy Gold status for as long as they hold the card?  It also comes with Hilton Honors Gold, Radisson Rewards Gold and MeliaRewards Gold status.  We reviewed American Express Platinum in detail here and you can apply here.

EDIT: Until 25th October 2022, there is an exceptionally generous sign-up bonus on The Platinum Card. You will receive 60,000 Membership Rewards points – double the usual amount – and £200 to spend at Amex Travel. You need to spend £6,000 within six months to earn the bonus.

The Platinum Card from American Express

60,000 points (SPECIAL OFFER), £200 travel credit and unbeatable benefits – for a fee Read our full review

You can also earn Marriott Bonvoy points indirectly:

and for small business owners:

The conversion rate from American Express to Marriott Bonvoy points is 2:3.

Click here to read our detailed summary of all UK credit cards which can be used to earn Marriott Bonvoy points

(Want to earn more hotel points?  Click here to see our complete list of promotions from the major hotel chains or use the ‘Hotel Offers’ link in the menu bar at the top of the page.)

Comments (12)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • josh says:

    I use marriott points extensively . For the mid range marriott, sheraton, autograph collection brands usually .50p per point is right on target. But i am seeing many hotel sincreasing the points rates and i expect the value will be around.35-.40p s=oon

  • Chris says:

    Rob – surprised you didn’t mention Marrriott Moments here. I do some of my stays in Marriott hotels but favour Hiltons. The Bonvoy points I do collect, I tend to keep for concerts through Moments.

    To me 40,000 points (£200 at your valuation) is outstanding for 2 seats in a box to see a concert with free food and drinks. Particularly true when it is not uncommon to pay £100 for a regular concert ticket these days. Value of these packages is hard to put a number on but is significantly more than £200. I’ve done a number of these around the world and all great experiences.

    • Frank says:

      Correct. Went to the Dave Chappelle show. No idea how much the VIP tickets were. If I did I could do a rough calculation

  • ADR says:

    I agree about the Marriott Moments. I’ve been lucky enough to see some amazing concerts and great sport, all at what seems a bargain price. That said, if certain types of music or sport isn’t your thing then even harder to put a valuation on. As it happens, I’m trying to buy some points to use on Moments but points.com have now rejected 4 cards, all with a message about card details must match card account (they do) to try again or call the card issuer. I’m using Safari on a Mac and you’d find better IT skills in a Kindergarten so any help would be greatly appreciated!

  • Holly says:

    Very helpful article as always! Does anyone have any more indication on exactly when the ‘temporary holding phase’ for the 130,000 points cap will end please? I’ve been accumulating points to book the St Regis Bora Bora in October next year and now I’m concerned the dates aren’t going to become available until after this cap has been lifted and therefore when it comes to book I won’t have enough points.

  • aceman says:

    I was thinking of jumping from Hilton to Marriott since Im making minimum platinum and maybe titanium this year. But the massive open ended rates have stopped me. Mind you, over 1m hilton points in the bank and they’re not exactly worth much now either

    • HH says:

      What’s wrong with Hilton points? In the last month, I’ve had >1.1p value by using 360k for a Conrad Tulum stay at Christmas and 380k for a Curio (ex-Waldorf) Key West stay in the Spring. Aside from IHG glitch days, I still find Hilton points to be one of the best redemptions.

  • Dartmouth says:

    Any indication when the next get Gold with Amex Mariott will be?

  • MrDr says:

    Just got over 0.7p a point. Staying in London tomorrow and hotel prices are crazy. Staying at the Westin as per the recent hfp review. Cash prices are nearly 600 quid!

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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