Currently a tier 5 ritz is 70,000 per night, it will be category 8 in the future which is effective in 2019, but will be temporarily category 7 in 2018. So I can redeem it as 60,000 points, right?

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Category 7 is 70000 points. Category 8 is 85000 points

Our points are so devalued, sigh

Well I guess I will just book before August as 70,000 a night, if it is 60,000 then I will cancel it and rebook.

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