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Update: Some offers mentioned below are no longer available. View the current offers here – Starwood Preferred Guest Credit Card from American Express

Around this time each year, Starwood launches a program called “Paradise is Closer,” giving SPG members an opportunity to redeem points for a handful of the chain’s priciest properties at a discounted rate.

Some of these hotels are truly out of reach of most travelers — the St. Regis Maldives, for example, will run you upwards of $1,500 per night even in the off season, with peak rates climbing to $2,900, before factoring in taxes and fees.

With Starwood’s latest promo, however, you can book an Overwater Villa With Pool for 58,500 points per night, or 234,000 points total for a five-night stay (thanks for SPG’s Fifth Night Free offer). If you stay five nights, you’ll redeem just 46,800 Starpoints per night, which is still a large sum, but, given the peak-season rates, could end up netting you nearly 7.6 cents per point in value (based on the post-tax rate shown below). That’s nearly 3x our valuation of Starpoints — a phenomenal deal.

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Note that you can boost your account balance by transferring points from Marriott at a 3:1 ratio, or sign up for a co-branded credit card, such as the Starwood Preferred Guest Credit Card from American Express, which is currently offering 25,000 bonus points after you spend $3,000 in the first three months (or even more via targeted offers).

Participating Hotels and Resorts

You must book (and complete) your stay at the properties below by March 5, 2018 in order to be eligible for the reduced rates below:

  • The Naka Island, a Luxury Collection Resort & Spa, Phuket — normally 40,000 Starpoints per night; now 26,000
  • Prince de Galles, a Luxury Collection Hotel, Paris — normally 60,000 Starpoints per night; now 39,000
  • The St. Regis Punta Mita — normally 60,000 Starpoints per night; now 39,000
  • Le Méridien Bora Bora — normally 60,000 Starpoints per night; now 39,000
  • The St. Regis Bahia Beach Resort — normally 60,000 Starpoints per night; now 39,000
  • Vana Belle, a Luxury Collection Resort, Koh Samui — normally 60,000 Starpoints per night; now 39,000
  • W Retreat Koh Samui — normally 60,000 Starpoints per night; now 39,000
  • Al Maha, a Luxury Collection Desert Resort & Spa, Dubai — normally 60,000 Starpoints per night; now 39,000
  • W Retreat & Spa – Maldives — normally 90,000 Starpoints per night; now 58,500
  • The St. Regis Bora Bora Resort — normally 90,000 Starpoints per night; now 58,500
  • The St. Regis Maldives Vommuli Resort — normally 90,000 Starpoints per night; now 58,500

In some cases, properties may offer non-suite awards at a lower rate — at the St. Regis Punta Mita, for example, you can book an award night starting at 30,000 points, or 24,000 points per night for a five-night stay. So through this promo you’d be able to book a suite for a few more points per night.

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The following terms and conditions apply to stays booked through this program:

  • Offer only applies to the participating property’s eligible suite category that can be booked using a Free Night Award redemption and is subject to the participating property’s existing SPG redemption policies.
  • This offer cannot be reserved online and must be booked by calling the SPG Customer Contact center. Discounted Starpoints will be deducted from Member’s account at time of booking.
  • 5th Night Free offer may be used in combination with this offer.
  • Rooms reserved using Cash & Points, 50% off Awards, and Nights & Flights are not eligible.
  • Award stays under this promotion will count towards the SPG Member reaching the Eligible Night and Eligible Stay milestones needed to earn elite membership status.
  • Offer cannot be combined with other redemption promotions unless specifically permitted according to these terms and conditions.
  • There is no limit on the number of times or nights a member may reserve using this special offer during the Promotion Period within the guidelines of SPG Free Night Award redemption.
  • All promotions are subject to the Starwood Preferred Guest program terms and conditions, which are subject to change without notice and can be found at spg.com.
  • Offer is applicable to single members only and not to groups.
  • Not responsible for omissions or typographical errors.
  • Void where prohibited by law.

Bottom Line

Considering how high some of the nightly room rates for these properties can climb, you can score a fantastic deal by taking advantage of this promotion, depending on which hotel you choose and when you stay. Be sure to compare rates for your dates before booking, since in some cases you could still come out ahead by paying cash.

Additionally, note that some properties may come along with extra fees that can’t reasonably be offset with points, such as the $645 per person you’ll pay for seaplane flights at the St. Regis Maldives. But if you have the points (and, in some cases, cash) to spare, some of these redemptions are well worth the effort and expense:

Featured image of the St. Regis Maldives.

H/T: LoyaltyLobby

The Business Platinum® Card from American Express OPEN

LIMITED TIME OFFER. Aside from the 100,000 points welcome bonus (available until 8/8/18), Amex recently made huge improvements to the Business Platinum Card, including the fact that you will now earn 50% more points on purchases of $5,000 or more, earn 5x on flights and eligible hotels at Amextravel.com and cardholders will receive a $200 airline fee credit each year.

Apply Now
More Things to Know
  • Limited Time Offer: Earn up to 100,000 Membership Rewards® Points.
  • Earn 50,000 Membership Rewards® points after you spend $10,000 & an extra 50,000 points after you spend an additional $15,000 all on qualifying purchases within your first 3 months of Card Membership. Offer ends 8/8/18.†
  • Get 5X Membership Rewards® points on flights and prepaid hotels on amextravel.com.
  • Get 50% more Membership Rewards® points. That's 1.5 points per dollar, on each eligible purchase of $5,000 or more. You can get up to 1 million additional points per year.
  • 35% Airline Bonus: Use Membership Rewards® Pay with Points for all or part of a flight with your selected qualifying airline, and you can get 35% of the points back, up to 500,000 bonus points per calendar year.
  • You can also receive 35% points back on all First and Business class flights, with all airlines available through American Express Travel.
  • You can enjoy access to The American Express Global Lounge Collection℠ offering access to the most lounges across the globe, when compared with other U.S. credit card offerings. As of 11/2017
  • Terms Apply
  • See Rates & Fees
Intro APR on Purchases
N/A
Regular APR
N/A
Annual Fee
$450
Balance Transfer Fee
See Terms
Recommended Credit
Excellent Credit
Terms and restrictions apply. See rates & fees.

Editorial Disclaimer: Opinions expressed here are author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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