What are points and miles worth? October 2019 monthly valuations

Oct 10, 2019

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One of the questions we are asked most often here at TPG is “How much is a point or mile worth?” The answer varies from person to person, and depends on how well you can maximise a particular loyalty currency. Still, some rewards are clearly worth more than others — our goal is to give you a sense of how they stack up.

These valuations are based on a combination of what we would pay to buy points if given the opportunity and the overall value we could get from redeeming them, factoring in variables like award availability, fees and change/cancellation policies. We encourage you to share your thoughts where you think we are off base (and on point, no pun intended), and we’ll take feedback from TPG readers into consideration when we regularly update the valuations.

American Airlines AAdvantage 1.2p 1.2p
American Express Membership Rewards 1.4p 1.4p
Alaska Mileage Plan 1.4p 1.4p
British Airways Avios 1.1p 1.1p
British Airways On Business Points N/A 3.3p
Delta SkyMiles 0.9p 0.9p
Emirates Skywards 0.9p 0.9p
Etihad Guest 1.1p 1.1p
Flying Blue (Air France/KLM) 1.0p 1.0p
Hilton Honors 0.4p 0.4p
HSBC Premier Rewards 0.6p 0.6p
IHG Rewards Club 0.4p 0.4p
Marriott Bonvoy 0.7p 0.7p
Lufthansa Miles & More 1.1p 1.1p
Qatar Airways Qmiles 0.6p 0.6p
Singapore KrisFlyer 1.2p 1.2p
United MileagePlus 1.0p 1.0p
Virgin Atlantic Flying Club 1.2p 1.2p
World of Hyatt 1.5p 1.5p

Movers and Shakers

From the hotel arena, we saw positive updates like IHG’s new partnership with Mr. and Mrs. Smith.

14 September marked an important date in the history of the Marriott Bonvoy programme, as peak and off-peak pricing finally took effect in the early evening hours. We noticed some interesting twists on these changes at first glance, and a deeper dive by our Points Lab team into the pricing led us to conclude that Marriott’s claims about the overall distribution of peak/standard/off-peak dates were accurate — even for top-tier, Category 8 properties like the St. Regis Maldives. While it’s frustrating to see prices jump during popular travel periods, the majority of dates appear to still be pricing at standard levels, and we’re seeing a higher number of off-peak than peak awards, so I don’t think this change represents an across-the-board devaluation.

Given the uncertainty around the calendar adjustments for peak and off-peak dates, we’re going to keep Marriott points where they are for now, but expect another data-driven analysis after the first wave of monthly changes to see if we’ll keep Bonvoy points at their current value in November.

Delta announced that it was buying a stake in LATAM, an action that will ultimately result in LATAM leaving Oneworld and ending the ability to earn and redeem AAdvantage miles on the South American carrier.

You may notice a new currency on this month’s list — British Airways On Business has been added following the launch of the new British Airways American Express Accelerating Business Card. We’ll be delving into the On Business programme all this month at TPG UK — stay tuned for a guide as to how we reached our valuation.

Which programmes would you like to see added to the list?

This is The Points Guy UK’s permanent page for the most up-to-date valuations, so you can bookmark it and check back each month for updates. Keep in mind you may see some reader comments referring to older valuations below.

Editorial Disclaimer: Opinions expressed here are the 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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