What are points and miles worth? December 2019 monthly valuations

Dec 5, 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.

PROGRAMME November 2019 VALUATIONS (PENCE) December 2019 VALUATIONS (PENCE)
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 3.3p 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

Over the past month, there’s been plenty of focus on Virgin Atlantic. Its impending wide-ranging partnership with Air France-KLM and Delta received approval from the U.S. Department of Transportation, and major shareholder Richard Branson decided not to sell a further stake in the airline to Air France-KLM.

The airline also announced a new codeshare partnership with Canada’s WestJet, allowing Virgin Atlantic passengers to book flights directly to Canada, and onwards to numerous domestic Canadian destinations. WestJet has been growing its London services and is now the third-largest carrier between the U.K. and Canada after Air Canada and British Airways.

Unfortunately, this codeshare does not yet allow for earning or redeeming Flying Club miles on WestJet flights so for now, the Flying Club valuation remains unchanged.

In other news, Etihad Guest announced its miles will no longer expire provided at least one eligible transaction is made every 18 months. Previously, the miles expired after 24 months. Oneworld member LATAM set a date for leaving the alliance — if you are planning to redeem miles on LATAM, do so by October 2020.

In hotel news, World of Hyatt plans to add 20 new properties next year under the Park Hyatt, Andaz, Alila, Grand Hyatt, Miraval and The Unbound Collection brands.

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.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.