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Update: Some offers mentioned below are no longer available. View the current offers here: The Platinum Card® from American Express, IHG Rewards Club Select Credit Card

This time of year always seems to bring a lot of one-off hotel promotions, and 2017 isn’t different. This week, IHG released a new targeted “spring offer,” giving members the chance to earn up to 35,000 bonus points for stays between April 16 and May 15.

There are 10 different offers, but it seems you’re only going to be targeted for — and can only register for — one of them. To see which offer you got, log in to your IHG account and see your member offers here:

IHG Rewards Club cardholders can earn between 8,000 and 35,000 points:

Non-cardholders get the same base offer, but without the credit card bonus:

Based on the terms and conditions, it seems that — if you’re a IHG Rewards Club credit card cardholder — you’ll only get credit for nights if you put the stay on your card. While the IHG credit card earns 5x points on IHG purchases, this is only a 3.5 cents per dollar return on your spend, based on TPG’s latest valuations. Meanwhile, you could get a 6.3 cents per dollar return by putting the same stays on a Chase Sapphire Reserve (earning 3x Ultimate Rewards points).

The way this promotion is set up, you might actually be happy to get one of the smaller targeted offers. If you’re targeted for the two-night promotion and pay with your IHG card, the 8,000 bonus points you’ll get net you $56 of value ($28 per night). If you’re targeted for the 15-night offer, you’re going to have to live half of the month in IHG hotels for 35,000 bonus points — for only $245 of value (~$16 per night). On the upside, those 35,000 points are enough points for seven free nights at a PointBreaks hotel.

The revised Platinum Card from American Express now offers an alluring 5x Membership Rewards points per dollar booking prepaid hotels through Amex Travel. However, for this and other IHG promotions, note that you must book directly through IHG for the stay to get IHG stay credit and elite benefits.

This promotion begins for stays on or after April 16. If you’re planning some last-minute stays between now and then, check your progress on your Q1 Accelerate promotion. All stays for the current Accelerate promotion need to be completed by April 15.

H/T: One Mile At A Time

Featured image courtesy of the InterContinental Sydney.

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