Starwood Preferred Guest is selling points for $14 per 500 points through December 31, 2010. This offer is 20% off the regular purchase rate of $17.50 per 500 points. SPG has a calendar year purchase limit of 20,000 points. Pay $560 for 20,000 points compared to $700 normal rate.
Is $28 per 1,000 points a good deal?
My Sheraton Chicago Hotel & Towers stay Thursday night cost 4,000 points and $60 for a Cash & Points award stay. The American Academy of Opthalmology is holding its annual convention in Chicago and hotels like the Hyatt Regency Chicago, Westin Chicago River North and many others were either sold out or sporting room rates in the $400+ per night range.
Sheraton Chicago room rate was $265 + tax and the only Starwood Cash & Points hotel in downtown Chicago for the date I needed. The hotel was packed with doctors. I saved $240 on the published room rate by spending 4,000 Starpoints and I received a value of $60 per 1,000 points with this award night.
Bottom line: There are many opportunities at Starwood Hotels worldwide to get much higher value than $28 per 1,000 points when redeeming Starpoints; particularly for Cash & Points stays.
This is the time to buy Starpoints if you need points to get to a desired award level. And the 20,000 points annual limit is per calendar year. You can buy up to 20,000 points for $560 in 2010 with this promotion. In January 2011 you will have the ability to buy up to 20,000 more points, but at the regular price of $35 per 1,000 points.