18 Oct Uncovering Your Hotel Rewards Program Payback
One of the perks of frequent business travel is the opportunity to earn hotel points in hopes of one day cashing them in for a free night. The amount of points needed to redeem a free night varies by hotel and dates so determining the real value of all those points you’ve been collecting can be difficult.
A recent hotel reward program survey by IdeaWorksCompany helps uncover the payback for your loyalty. Here are the basic findings you’ll want to know.
What’s the actual value of your hotel points?
The typical hotel reward program payback range is 5.4% – 8.8%. This means that for every $100 spent on hotel stays, you may expect to get somewhere between $5.40 to $8.80 in value when you redeem your points.
Not all rewards programs fell within this range, however. Wyndham Rewards was the survey leader, providing a 16.7% payback.
Remember, these numbers are only a benchmark. There are always great deals to be found with every rewards program. The reward paybacks for individual stays in this study ranged from a low 1.8% to an amazing 50.7%.
How can you get the most out of your hotel rewards programs?
Our best advice is to do your homework before cashing in those points to make sure you’re getting the most out of your rewards. If your travel dates are flexible or you have multiple trips coming up, always compare your options to see what’s available.
Be on the lookout for bonus point opportunities. For instance, you may want to consider one of the co-branded credit cards associated with these programs for a sign-up bonus and potential spending bonuses.
Hotel reward programs can often be more lucrative than frequent flyer miles. For comparison, the calculated reward payback for major U.S. airlines ranges from 3.9% – 5.8%.
CLS always looks for lodging solutions that best match a company’s travel program goals. This often results in stays at a variety of hotel brands so we encourage travelers to sign up for not just one, but as many hotel rewards programs as possible! Be sure to compare reward values across your different programs when planning your next vacation.
Check our list of hotel reward programs at: http://yourcls.com/hotel-rewards-program/.