When using points for a travel package, how does the peak and off peak season work. Or does it not matter for this program.
The "new" travel packages (those bought after August 18th, 2018) allow you to pay the same amount of points that you would need to book seven nights in a certain category at the peak rate and then buy 50,000 or 100,000 miles at the rate of 1.5 points per mile. This takes into account that you get the fifth night free, so the math works out to
(6 x (peak points needed per category)) + (1.5 x # of miles) = cost of travel package
For example, a category 8 travel package with 100K miles costs:
6 x 100,000 + 1.5 x 100,000 = 750,000 points
These travel packages are then able to be used at peak, standard, or off-peak properties within that category or a lower category.
These are rarely a good deal. Keep in mind that you can use those points to purchase miles at a rate of 3 points = 1 mile and you get a bonus of 5,000 miles for transferring 60,000 points at once. As a result, those 100,000 miles that you buy with the travel package are able to be purchased for 240,000 points.
Therefore, the only time that these are a good deal is when you use them for a hotel during peak pricing. If you use it at standard pricing the category 8 package costs exactly the same as paying points for the room and points for the miles, so you might as well enjoy the flexibility of not having to use all 7 nights at the same hotel. If you use it where even one night is off-peak and the rest are standard, you are paying more points with the travel package than paying a la carte.
With lower categories, it can be slightly advantageous even at standard pricing, but these travel packages are nowhere near the good value that the "old" ones were prior to the merger of the programs. I don't advise buying them unless you have a specific redemption planned and the math happens to work out.
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