(BEST IN LOW SEASON FOR POINTS THAT DON'T HAVE OFF-PEAK DISCOUNTS ON POINTS & WHEN HOTEL POINTS DIRECTLY WITH HOTELS ARE GETTING LOW PER POINT VALUE VS TPG VALUATIONS)

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My favorite of these for highest average return value is Open Table, where points are worth 2 cents each when redeemed for hotels. This way the first booking I did with them was around 90% in value back on a points booking in DC if I remember correctly. Here is another example where for $186 you are getting 8k points ($160 in value across 2 future bookings) so it's like a net cost of $26 if you would pay $160 for 2 hotels in the future of at least $80 each. I recommend buying when the points return is excellent and redeeming for hotels when you are looking to spend only slightly above $80 & there are superior options available than those of low net spend in that range. Some options can go either way like this date with Holiday Inn Washington College Park with a net cost of $33 (93-[3k*$.02]) or $13 if you use 4k points. To find the best options, the site makes it relatively easy. Sort by "Points HIGH - LOW" then look for the top option at each points level as they conveniently are arranged by lowest price at the points level first. It also nicely includes a review rating right there & allows you to sort by price, review rating, etc.