IHG, the loyalty program of InterContinental, Holiday Inn, and Crowne Plaza, has frequent sales during which you can buy its points for 0.575 cents each, a 50% discount on the every day price of 1.15 cents each.
There has long been a workaround to buy points every day for 0.7 cents each. Now that workaround can buy them for 0.6 cents each.
That makes the best IHG awards, a rotating list of PointBreaks hotels that cost only 5,000 points per night, cost only $30 per night. The fanciest IHG hotels, which go for 50,000 points per night, now cost $300 all in every day with award availability.
When you search award availability, you are always given the option to pay the full number of points required, between 10,000 and 50,000 per night depending on the hotel, or to book a cash and points award.
The cash and points award always have the same options. Save 5,000 points for $40 or 10,000 for $70. That’s like buying points for 0.8 or 0.7 cents each.
The confirmation screen makes it very clear that the $70 is going towards buying 10,000 points that would be immediately used to book the award.
After booking, you can immediately cancel the reservation online by following a link from the booking confirmation page. That brings you to this screen:
Through this workaround, you have been able to buy IHG points for 0.7 cents each every day.
If you select that option and then cancel the hotel stay, you have purchased points for 0.6 cents each.
Not all hotels are offering 15,000 points off for $90. If you want to use this option, look for the InterContinental Sydney or Candlewood Suites Jersey City, two hotels which I doubt have much in common.
A new option to buy 15,000 IHG Points for $90 has been added to some properties on ihg.com during award bookings. This option allows the purchase of points for 0.6 cents each every day, which is just a bit worse than the best sale price of 0.575 cents which is often offered.