Today is the day when Marriott Bonvoy takes its first step towards dynamically priced hotel awards.
We were told this would take place on March 29 – 30, 2022, but now the spokesperson has clarified the time. The flexible redemptions are rolled out late Eastern Time (EDT) today (March 29, 2022).
You can access Marriott here.
READ MORE: Marriott Bonvoy Rate & Bonus Points Offers
Remember that this is the first step of the dynamically priced awards, and more adjustments will be made in 2023 and throughout the year.
Lastminute Update From Marriott:
As we have previously communicated, members will have more rates to choose from and greater travel options. Because of the bounds being put in place, we will continue to offer members tremendous value even as average daily rates have rebounded sharply especially in the luxury tier. Flexible Redemption rates will more closely align but not necessarily move in lock step with hotel rates especially at peak travel times.
More than 97% properties will continue to offer redemption rates bounded by their old categories for stays in 2022. The rest — less than 3% — will be adjusted based on business conditions similar to annual category changes. Among those properties, about 40 will occasionally offer rates up to 120,000 points per night but will still overlap with hotels whose rates will remain within the old category eight bounds.
Here is additional useful information:
- Rather than being market specific, the new redemption structure will be property specific offering more price points among hotels in a market.
- When members book a five night or longer stay, the member can take advantage of Stay 5, Pay for 4 which saves the member 20% in points and increases the above valuations by 25%.
- Coming soon, we will announce exactly when in April members will be able to combine their Free Night Award with up to 15,000 points to help access more hotels.
The program is committed to offering great value to members for stays in 2023. Initially, redemption rates for stays in 2023 will fall within the bounds for 2022 redemption rates, however, pricing may adjust along with rates as we have more visibility into 2023 demand and pricing conditions. We look forward to sharing more information when it becomes available.
Our Previous Articles About Dynamic Rewards
Conclusion
So, you will have a few more hours to book the most aspirational properties at the current award rates (I have already liquidated my Bonvoy stash).
There is no way around what Marriott is doing here. The most aspirational hotels will cost significantly more points tomorrow and even more in 2023 when award rates are continuously adjusted.
After Marriott acquired Starwood (yes, I know that it was a “merger”), the previously extremely expensive SPG properties became very reasonably priced using points, and this is now being corrected.
Of my redemptions in the combined program Al Maha, Gritti Palace, Le Meridien Bora Bora, and W Maldives (twice) were reasonably priced under Marriott (remember that these were all 60,000 points per night + fifth night free), and I am glad that I got to enjoy them.
Let’s see what the future brings.
