Is it worth transferring bonvoy points to airlines? Based on my reading bonvoy points should be worth $0.8 at hotels but my experience has been they’re closer to $0.5 when I really need them

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If they’re only half a cent, pay cash instead. View it as a currency. I’ve gotten some insane valuations at high-end properties (like Maldives) and during peak periods (summer in Alaska, New Orleans during Mardi Gras, Rio during Carnival, Munich during Oktoberfest, NYE in Sydney and NY, Japan during cherry blossom season, Cancun between Xmas and New Year’s, etc.). I’d very rarely transfer to an airline and only when there’s a particular award chart opportunity in a program that you can’t transfer AMEX MR or CSR points to (like Alaska).

I’ve tried waiting out but whenever/wherever I want to travel, I rarely end up getting something more than .5 to .6 cents per point (realize the typo above now). And that means I’ve been spending $ while accumulating a large no. of points - at some point I question their value without earning anything on them

Shockingly, point value is subjective

Yes they are because you get the added points bonus concept that they borrowed from SPG

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