We may receive a commission when you use our links. Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. We appreciate you using our links!!!
- IHG has said that the devaluation was a technical glitch
Wow…what a middle finger to IHG cardholders. If you’re unfamiliar with what I’m referring to…if you hold an IHG Premier or an old IHG Rewards Select you receive an annual night certificate worth up to 40k per night. Hotels are now pricing at the magic level of 41k. Gimme a break.
When IHG introduced dynamic pricing, many hotels would dip below the threshold when demand wasn’t high, and it took a bit of the sting out of their move from a fixed award chart to demand based. That sting just became a welt.
It was one thing to read about the 30%+ overnight, without warning, devaluation to the IHG program. That, in and of itself, is terrible communication and lacks respect of those who have been loyal to the brand over the years. We’re sensible people, but give us warning and ability to navigate. Programs devalue all the time, but to do it in the dead of night, amidst a pandemic, is pretty terrible. But…introducing a new level of pricing that just barely moves a property out of qualifying for an IHG free night is pretty awful. The rate for the IHG was a little over $260.
- IHG is $.0064 per point
- Kimpton is $0.0034
Here you can see the terms and conditions for the free night certificate – 40k or less
However…when I changed the dates into December, the 19th and 20th to be exact when rates are around $220.
You can also see the Kimpton plummet in points. No surprise here – Chicago in December is brutal. But a 40k point swing at Kimpton Hotel Monaco.
Was it purposeful? They certainly could have programmed their code to bump anything around 40k down to 40k. Dynamic pricing means rates will fluctuate and could land on 41k, but as you can see from examples the algo doesn’t assign a fixed value to the points in any predictive manner. Is it offer season? Amount of rooms booked? Who knows. But negating award certificates by pricing a mere 1000 points ( which could be bought for roughly $6 using Cash and Points ) seems pretty petty.
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers
A Monkey Miles favorite for beginners and point pros alike – a staple of our wallet that earns Premium transferrable Ultimate Rewards. $95 annual fee
♥ Earn 80k Bonus Points after $4k Spend in 3 months + $50 grocery credit
♥Points are transferrable to over dozen partners, or redeemable for 1.25c in Chase travel
♥2x on travel
♥2x on dining
♥1x on all purchases