Starwood Preferred Guest Redeem & Reward Promotion
I love my Starwood Preferrred Guest points because of the phenomenal value I can get out of redemption options like Cash & Points. But redeeming for top-tier properties - like two of my hometown favorites, the W South Beach and the St. Regis Bal Harbour (review here) - can be expensive at 15,000 points + $275 per night for C&P, or 30,000 points outright for a free night redemption. However, there's a new SPG promo called Redeem & Reward, where you can save between 30-50% of the Starpoints you redeem for award nights at a group of 21 different resorts in the U.S., Canada and the Caribbean between now and December 21.
So instead of spending 30,000 points for a free night at a top-tier property where room rates are regularly above $500, you're spending just 15,000 points - a value of at least 3 cents per point.
To take a quick example that packs even more value: I love the W South Beach (read my review here), one of the properties where you get a 50% rebate on your points. A quick search for room rates the first week in December shows that I could get a Wonderful Studio for 30,000 points per night or $1,366 for the room plus taxes. So with this promo, I would only be spending 15,000 points per night instead of $1,366, a value of 9.1 cents per point.
However, I also checked on the nights from December 1-6. For that redemption, the cost per night in terms of points goes down to 26,000 thanks to SPG's fifth night free, so I'd actually need 130,000 points total (instead of 150,000 points - the rate does up towards the end of that week to 35,000 points per night). Then with my rebate, I'd only be spending a total of 65,000 points for 5 nights - a rate of only 13,000 points per night. If I paid for the same stay, I'd have to spend $6,830. So I'd be getting a value of 10.5 cents per point!
How it Works
In order to participate you must register by November 30, 2012 at 11:59 PM EST. When redeeming your Starpoints for a stay at one of the participating resorts, you must book a free night award anytime between October 21 and December 21, 2012. Once your stay is completed, you will receive 30%, 40%, or 50% of the points you redeemed back in your account. The percentage of points that you will receive back depends on where you stay. Here's a list of the participating resorts and the discount percentage you earn at each.
The St. Regis Aspen Resort, Colorado, USA
The St. Regis Bahia Beach Resort, Puerto Rico, USA
The St. Regis Bal Harbor Resort, Miami Beach, Florida, USA
The St. Regis Monarch Beach, Dana Point, California, USA
The Phoenician, a Luxury Collection Resort, Scottsdale, Arizona, USA (although this hotel's web site says it has no SPG participation)
W South Beach, Miami Beach, Florida, USA
The Westin Diplomat Resort & Spa, Hollywood, Florida, USA
W Retreat & Spa — Vieques, Puerto Rico, USA
The Westin Trillium House, Blue Mountain, Ontario, Canada
The Westin St. John Resort & Villas, Virgin Islands, USA
The Westin Mission Hills Resort & Spa, Rancho Mirage, California, USA
The Westin Grand Cayman Seven Mile Beach Resort & Spa, Cayman Islands
The Westin Resort & Casino, Aruba
Sheraton Nassau Beach Resort & Casino, Bahamas
Sheraton Steamboat Resort, Steamboat Springs, Colorado, USA
Sheraton Wild Horse Pass Resort & Spa, Chandler, Arizona, USA
The St. Regis Deer Valley, Park City, Utah, USA
The Westin Kierland Resort & Spa, Scottsdale, Arizona, USA
The Westin La Cantera Hill Country Resort, San Antonio, Texas, USA
The Westin Savannah Harbor Golf Resort & Spa, Georgia, USA
The Westin Whistler Resort & Spa, British Columbia, Canada
The Terms & Conditions
Only standard rooms booked as Free Night Award redemptions are eligible for this promotion. So no Cash & Points awards! Any rooms which are booked using Cash and Points, Nights & Flights and 50% off Awards, are not eligible. If you booked an Award Night at a participating resort prior to the promotion and the stay falls within the promotion period, that stay will be eligible. This offer cannot be combined with any other promotion and is only applicable to single members, not groups. The Starpoints that you receive back through Redeem & Reward will post within 4-6 weeks.
Although you have to have the total amount of points necessary for a regular redemption and then are refunded a percentage of them later, this promotion could add up to some huge savings and amazing point values if you redeem wisely, and at least at the properties I checked including the W South Beach, the St. Regis Bal Harbour and the St. Regis Aspen, there seems to be tons of award night availability for the promo period, so start making your reservations!