IHG Points & Cash rates now selling 20,000 points for $125

Today I noticed IHG Points & Cash rates now include four different points purchase options for some hotels with a newly introduced copay of $125.00 for 20,000 points. This brings the price of points close to the purchase rate back when Points & Cash rewards were first introduced by IHG Rewards Club with the option to pay $60 for 10,000 points or $35 for 5,000 points. Then, copay amounts increased to $70 for 10,000 points and $40 for 5,000 points. In 2016, there were even some variable rates for copay with different copay amounts at different hotels. The option to buy 15,000 points was available for as little as $85 or as high as $100 at different hotels.

Here are the Points & Cash rates I am seeing now at many hotel properties.

Hotel Indigo Barcelona – Plaza Catalunya

80.66 EUR/night

• 35,000 standard reward
• 30,000 points + $40.00 USD Points & Cash reward (copay = $8.00 per 1,000 points).
• 25,000 points + $70.00 USD Points & Cash reward (copay = $7.00 per 1,000 points).
• 20,000 points + 99.00 USD Points & Cash reward (copay = $6.60 per 1,000 points).
• 15,000 points + $125.00 USD Points & Cash reward (copay = $6.25 per 1,000 points).

This hotel is a good example of how IHG Rewards Club reward night rates are often very poor value relative to the paid rate.

The nice aspect of these rates is the ease a member can buy points with a Points & Cash reward night only requiring 15,000 points in your account. Book one night for 15,000 points + $125. Cancel the Points & Cash reward night and you have 35,000 points in your account.