SPG 50% mile transfer bonus ending tonight + discounted SPG redemptions

Earlier this month, I wrote about the 20 % transfer bonus promotion SPG was running, which is ending today. Typically, SPG members earn a 5,000 point bonus for every 20,000 points transferred to airline miles (essentially a 25% bonus). During this promotion, members who transfer their points to American Airlines or US Airways earn a 20% bonus on top of this. Bringing in a bonus of up to 50%!

If you got in on the 35,000 point SPG Amex card, transferring your entire balance to either AAdvantage of Dividend Miles would get you a total of 48,000 AAdvantage miles. This is a pretty lucrative way to top off your AAdvantage or US Airways account – unless, of course, you’re one of those people who picked up six 100,000 mile Citi Executive AAdvantage cards. Then you may scoff at this promotion while sipping Dom and eating caviar on your way to Singapore.

Don’t have 660,000 AAdvantage miles lying around? Below are a few examples of what transferring your points to miles can get you during this promotion:

• Two round-trip domestic economy class tickets (50,000 miles total) = Transfer 37,000 Starpoints (37,000 + 5,000 bonus = 42,000 miles + 20% bonus = 50,400 AAdvantage miles)
• 100,000 mile round-trip business class ticket to Europe = Transfer 69,000 Starpoints (69,000 + 15,000 bonus = 84,000 + 20% bonus = 100,800 miles)
• 140,000 mile first class ticket to Australia using Dividend miles = Transfer 97,000 Starpoints (97,000 + 20,000 bonus = 117,000 + 20% bonus = 140,400 miles)

You have until 11:59 PM (CT) tonight to take advantage of this promotion. Just initiate the transfer by that time to ensure that your 20% bonus will post within 7 days.

If you prefer to hold onto your SPG points for a hotel stay, check out my series on the Best SPG Hotels for inspiration. Want a more unique hotel experience? Then you might want to save up your points for a stay at an upscale resort like the W Maldives or Mystique Santorini. These and a few other hotels participating in the SPG program on a limited basis are currently offering 35% off redemption rates. These discounted bookings can be made through March 1, 2015:

• W Retreat and Spa Maldives – 58,500 Starpoints a night (previous 90,000)
• Le Meridien Bora Bora – 39,000 Starpoints a night (previous 60,000)
• Mystique, Santorini Greece – 39,000 Starpoints a night (previous 60,000)
• Al Maha, Dubai, UAE – 39,000 Starpoints a night (previous 60,000)
• W Retreat Koh Samui, Thailand – 26,000 Starpoints a night (previous 40,000)
• Pine Cliffs Residence, Portugal – 26,000 Starpoints a night (previous 40,000)
• Vana Belle, Koh Samui, Thailand – 26,000 Starpoints a night (previous 40,000)

These resorts are further discounted when you factor in the 5th night free benefit. I would personally prefer to convert 60,000 Starpoints to 90,000 AAdvantage miles. But for folks who are swimming in AAdvantage miles, saving $1,500+ per night on a stay at the W Maldives may be a better use of points.

Whatever option you end up choosing, remember that you’ve got until 11:59 PM (CT) today to make up your mind!