I view Hilton HHonors points as being worth about $0.004 apiece. That’s only a little less than the half cent apiece I valued them at before last year’s March massacre which increased the price of the best awards by nearly 50%.
Paradoxical perhaps but I value points at the price where I’m indifferent to holding points or cash, and I can always get 2/5th of a cent in value out of Hilton points when I redeem. I just no longer occasionally get outsized value, orders of magnitude better than that.
Nonetheless, I do not consider it anywhere close to a good deal when Hilton sells points for a bit more than a penny apiece. They limit you to 40,000 points at that price (I like to think of that as being for your own protection!).
I wonder if that price is going to rise, though. The price used to be written into the program terms. Now the terms are that the price can change at any time.
We already knew that in some sense, they do what they want, award prices in points already make no sense. I suppose they could charge a million dollars a point and it would make no difference to me, as long as they don’t eliminate breakfast and internet benefits for Golds.