When valuing hotel points, it's often easy to accept that you won't be getting anywhere near the same redemption numbers as with airline miles. Hilton points are mostly redeemed at 0.4-0.6 cents-per-point and IHG at 0.5-0.7cpp, and so on. Where these values tend to skew favorably is when the hotel's rates are abnormally high because of special events occurring in the area. Today, we'll take a look at this opportunity for point-value maximization by sampling New Year's Eve options and list other potential event opportunities.
New Year's Eve Redemptions by Hotel Group
For our NYE sample, we'll look at a two-night stay from December 30th-January 1st and compare it to a January 20th-22nd stay. While this is by no means a perfect method for comparing the price-difference between a normal stay and a popular event stay, it's a decent starting point. Rather than follow a strict formula for picking properties, I'll try to use examples that best assess each hotel group's sweet spots and shortcomings.
Hilton Hotels in New York City: NYC has the most notable, if not the best NYE celebration in the United States, and less than a month out, many Hilton properties are still available on points, even for our short stay of two nights (sometimes thanks to my Hilton Diamond status). For example, Hilton Time Square quoted me $2200 for our two-night sample stay or 160,000 Hilton Honors points. That may sound like a lot of points, but they're not really that hard to come by and this reflects a redemption value of 1.38cpp instead of the paltry 0.29cpp ($400/140k) offered three weeks later. It is hard to create a higher redemption value than that with Hilton points. There are half-a-dozen Manhattan Hilton properties still available on points.
Hampton Inn & Suites Mexico City: Okay, so I said it would be hard to create a higher cents-per-point valuation than the NYC redemption, but this hotel is always a sweet spot on the Hilton award chart. For 10k HHonors points per night, you can locate yourself right in the center of the action, next to the main square of the largest city in the world. Price for our two sample dates were $300 (1.5cpp) for New Years and for the January dates, making this a great opportunity any time!
In the event that you need Diamond elite status to override minimum stay lengths for busy travel dates, know that it's pretty easy to status-match from another program. I did it through this method, although currently the offer is only for 90 days of status. Hilton seems to offer a few good opportunities per year, so keep your ear to the ground for those moments!
Cartagena Hyatt Regency: It's no secret I'm coveting a visit to this brand new property, since I wrote about it last month. At $696 or 16k Hyatt points, this hotel is an impressive 4.3cpp redemption for NYE! Even though Colombia is still in its summer high season, moving that stay three weeks into January reduces the price to $418/16k points or 2.6cpp, which is more in-line with typical Hyatt redemptions.
Hyatt Hotels in New Orleans: Both the Hyatt Regency and Hyatt House were going for more than $400 per night, but point redemptions were not available on those dates. It's not clear whether this is because we are so late to the game, or if they blackout those dates. I would guess the latter, since Hyatt Regency houses Big Night New Orleans (which I attended last year!). Hyatt Place was available on points when I searched, but is poorly located for festivities and isn't a great redemption value.
Intercontinental Hotel Group (IHG)
IHG Hotels in San Francisco: It seems IHG hotels are not quite the NYE value that other hotel groups can be, with Holiday Inn Express & Suites Fisherman's Wharf coming in at $610/80k points (0.76cpp) for our NYE stay or $450/80k points (0.56cpp) in January. Both Intercontinental San Francisco and Mark Hopkins Intercontinental were going for just better than 0.5cpp, which I wouldn't even do as a normal redemption, although there's over $300 value to be had in using a free night certificate for one of those properties. In fact, the free night at any IHG property worldwide that every Chase IHG cardholder receives as an anniversary bonus is probably the best way to leverage any higher-end IHG property NYE award redemption.
One thing to note about IHG hotels, particularly the Intercontinental properties, is that I often found New Year's Eve to be sold out of points stays in multiple cities, while the days around it never were. This was not the case in our San Francisco example, but the general trend leads me to believe that these properties just capacity-controlled NYE to where very few people could take advantage of a points stay.
Marriott Hotels & Starwood Preferred Guest (SPG)
Sheraton Times Square Hotel: This hotel, as is the case with a number of other SPG hotels in NYC is going for about 5cpp for our NYE sample dates. Normally, I'd expect 2-3cpp for SPG points, so this is definitely a good opportunity if you don't have a better use for those points (more on that later). Our January price-check saw the same properties, such as this Sheraton, going for about 1/3 the NYE rate, but then again, it is January in the Northeast!
New York Marriott Marquis: I went straight to the best redemption rate I could find, and it certainly is a good one for this NYE booking. At $2,200/90k points for our two-night NYE stay, this hotel is offers us more than 2.4cpp redeeming Marriott rewards points. Since Marriott has recently purchased Starwood and is offering 3:1 exchange for SPG points, you can directly compare the valuation of this Marriott hotel to the Sheraton Times Square. By transferring SPG to Marriott, you'd get $2,200/30k for a valuation of approximately 7.3cpp in SPG points and the Marriott Marquis also gets the better reviews online for what that's worth.
By using Marriott or SPG points, you could achieve 3x their normal value, but there may be an even better redemption. If you've been following along here at Thorpe Travel, you'll remember that I find Marriott Hotel + Air Packages to be just about the best deal in town. If not, go have a look at this post, where you'll learn how to parlay your hotel points into airline miles and still get yourself a nice week-long stay.
Wyndham Grand Chicago Riverfront: This hotel would make a strong 1.5cpp redemption at NYE prices ($450/30k points for our two nights), but the date is blacked out. It's quite possible that some people managed to snag the booking by planning further ahead, as 2 nights tied into 4th of July are readily available for $620/30k points for a redemption value of nearly 2.1cpp. That's a tremendous redemption value and one could argue that date is a better time to be in Chicago anyway! Just for kicks, I checked our January 20-22 dates and the property was bookable for $250/30k points, or a little bit less than 1cpp, so that 4th of July booking creates double the average value.
Wyndham International Properties: I looked at both all-inclusive properties in Cancun and several other locations without finding availability on NYE, so my guess is that the availability was probably there at some point, but is less than what these properties would make bookable on a run-of-the-mill evening. In general, it seems the key to maxing value on your Wyndham redemptions involves planning ahead.
For those of you not as familiar with Wyndham Rewards, it's a newer program, whereby most any property held by Wyndham is available for a flat rate of 15k points per night. Translation: great values at the higher end properties and terrible values at their lower brands like Days Inn or Super8. You can currently get enough points for three nights by signing up for the Barclay Wyndham Rewards credit card and if you need some inspiration, here's the DOC's list of Wyndham Properties.
Other ideas for high-value hotel award redemption opportunities
- Major sporting events
- Location-specific festivals
- High-season tourism destinations
- National holidays
- Conventions and other shared-interest gatherings
The Bottom Line
While we've only just scratched the surface of maximizing our hotel point values by booking during high-occupancy occasions such as New Year's Eve, I think it's quite clear that there are some major opportunities to be found. Even with just 3 weeks until NYE, I was able to find award space at most of the major hotel groups for stays in high-interest NYE destinations and unearthed stays that would triple the value of your points.
Given this data, it seems prudent to consider booking cash on low-occupancy dates if you know you'll need a hotel during a big event. Of course, your valuations will change if you hang onto your points through a program devaluation, so keep that in mind, too.