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Update: Some offers mentioned below are no longer available – Citi Hilton HHonors Reserve Card, Hilton Honors Card from American Express

Hilton recently announced that it will be launching a new promotion in early 2016 to earn double HHonors points or airline miles when you stay at any hotel in the Hilton portfolio. There’s a catch though — you may select only one of the bonuses you’d like to earn. You can choose which you want by enrolling on Hilton’s website in advance of your first eligible stay during the promotion period, which runs from January 1 through April 30, 2016.

To participate in the promo, be sure to register on Hilton’s website prior to check-in. There might also be other restrictions that affect earnings, so be sure to review the terms and conditions to ensure you’ll receive bonus points or miles for your stay.

You can earn double miles or points with a Hilton stay.
You can earn double miles or points with a Hilton stay.

In this situation, it may make more sense to opt for bonus airline miles. TPG values Hilton HHonors points at just 0.5 cents per dollar — not a great value compared to many of the airline partners, but depending on your personal travel plans during this promotion period, it might still make sense to go for the double hotel points option. Hilton has a ton of airline partners, including Alaska, American, United and additional domestic and foreign airlines. Hilton also has some awesome redemption opportunities, including at many low-level properties.

You can also earn 10 HHonors points per dollar spent on stays with Hilton when you pay with the Citi Hilton HHonors Reserve Card. Additionally, keep in mind that Amex Platinum cardholders can receive complimentary Hilton Gold status, which includes perks like fifth night free on standard room rewards and space-available upgrades at some properties. And if you have the Hilton Honors Card from American Express, you can earn an extra 1,000 HHonors points when you use card on your first stay during the promotion after registering online.

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