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With the Marriott/Starwood merger beginning soon, many Starwood loyalists are looking to redeem their SPG points before the two programs are combined. Normally, we’d suggest redeeming points whenever you’re getting at least 2.5 cents in value, however there’s a much better deal out there right now, at Starwood’s latest flagship property in the Maldives.

The St. Regis Maldives is set to open next month, though the hotel is currently only accepting bookings beginning in November. Room rates are astronomical — no, really, they put Amanpulo to shame — but for one reason or another, Starwood is letting SPG members redeem points for a free stay at a phenomenal rate.

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Just how great are these rates? 130,000 Starpoints will get you five nights in an Overwater Villa — the cash rate for that stay is over $10,000, yielding a phenomenal value of 7.7 cents per point. I’m including a breakdown below for a stay in September — note that these are the cheapest dates I could find, with base rooms jumping above $2,000 on many dates:

Room Type Base Rate Award Per Night Value Per Point Award Per Night (5th Night Free) Value Per Point
Garden Villa $1,771 31,500 $0.056 25,200 $0.073
Overwater Villa $2,011 32,500 $0.062 26,000 $0.077
Beach Villa $2,331 60,000 $0.039 48,000 $0.049
Sunset Overwater Villa $2,371 75,000 $0.032 60,000 $0.040
Overwater St. Regis Suite $2,491 90,000 $0.028 72,000 $0.035
2-Bedroom Family Villa $3,211 120,000 $0.027 96,000 $0.034

There’s no minimum-stay requirement, so you can book just one night if you’d like, but note that you’ll need to shell out $700 per person for a seaplane from Male Airport (MLE) to the hotel, so a five-night stay makes much more sense. The hotel appears to be available on most dates, with the exception of the New Year’s holiday.

Unfortunately you can’t book these stays online — you’ll need to call SPG at 888-625-4988 to book your award — but availability should match up with the revenue inventory you can see on Starwood’s website. Also, note that these rates may change at any time (the deal may even be gone by the time you’re reading this), so you’ll want to book your award sooner than later.

Featured image is of an Overwater Villa at the St. Regis Maldives.

H/T: DansDeals

Starwood Points are the most valuable points currency out there.
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  • Earn a $100 statement credit after you make $1,000 in purchases on the Card within your first 3 months of Card Membership.
  • Plus, earn an additional $100 statement credit after your first purchase on the Card at a participating SPG® or Marriott Rewards® hotel within your first 6 months of Card Membership.
  • From now through July 31, 2018: Earn 2 Starpoints® for every dollar of eligible purchases on the Card at participating SPG® and Marriott Rewards® hotels. Earn 1 Starpoint for all other eligible purchases.
  • On August 1, 2018, SPG will convert every one Starpoint in a loyalty member account to three points. In general, corresponding redemption changes will occur. Visit members.marriott.com for details.
  • Effective August 1, 2018: Earn 6 points for every dollar of eligible purchases on the Card at participating SPG and Marriott Rewards® hotels. Earn 2 points for all other eligible purchases.
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