Earlier in the week I wrote about my plans to redeem Hilton HHonors points for the Conrad Koh Samui (and switching up the reservation to score a two-bedroom ocean villa at the Conrad Koh Samui Residences).

Undoubtedly the property is one of the better reward values in the Hilton HHonors portfolio. When I first booked it, the hotel was category 6 (40,000 points per night, discounted on a 5-night elite multi-night stay award to 32,000 points per night). Then — even before the hotel opened — it was upgraded to category 7 (50,000 points per night, discounted on a 5-night elite multi-night stay award to 40,000 points per night). That’s for a $600 – $900 standalone villa with private pool overlooking the Gulf.

Unwind in a stunning Oceanview Pool Villa, with 65 sqm of indoor living space and 28 sqm outdoor space, overlooking a private 10 m infinity pool and the azure waters of the Gulf of Thailand. Decorated using a combination of contemporary furnishings and traditional Thai elements, this Villa is set amidst the dramatic landscape and offers an unforgettable luxury experience. Enjoy the latest in audio/visual technology, with a DVD, IPod docking station and high speed internet access. Luxuriate in the elegant marble bathroom with spa-quality amenities, a rain shower, and an oversized tub, which overlooks the private pool deck and ocean.

The median small town $100/night Hilton Garden Inn runs about 25,000 points per night, so it’s certainly good value per point. And perhaps at least as importantly, it’s one of the real opportunities for a very high end redemption without absolutely breaking the bank on points.

Hilton offers several of these — the upcharge isn’t astronomical to reserve rooms at places like Bora Bora Nui or the Conrad Maldives. In contrast, similar properties in the Starwood portfolio can run 70,000 SPG points per night — top category properties based on room revenue, which then require double points because they’re ‘all suite’ hotels (when of course the fact that they are all suite hotels drives their room revenue, and thus their high category, in the first place).

But other high end properties put you into the lowest category room on a reward, you may be able to luck out with an upgrade or buy up to a better room. But the Conrad Koh Samui works swimmingly on a reward, since the base room is the above-described villa.

Well, the value there got even better, at least for folks able to travel in the immediate-term. Conrad Koh Samui has been added to Point Stretchers. That makes the hotel just 30,000 HHonors points per night through November 30. Most point stretchers are for specific dates, at the Conrad Koh Samui point stretchers are available for any date that rewards are available in September, October, and November.

About six months ago some Hilton folks who would know told me that the hotel would be added to point stretchers. And I waited, and waited, and didn’t see it. Presumably they weren’t going to discount the award redemptions until the property had actually opened, which is did a couple of weeks ago, and as a brand new property — whose opening date kept getting pushed back but then was actually moved up — their occupancy right now is likely quite low. Hence a willingness to discount award redemption there. And a great opportunity to stay in a likely fabulous room, what’s usually cheap on points, at an even better value.

Plus, if you go during the Point Stretchers dates, you’ll be there before me and can report back so I can benefit from your experience…