Rapid Rewards 2.0 is likely to arrive around the end of 2009. When that happens, the exchange rate will necessarily change. That change would provide excellent cover for a devaluation.

The devaluation 6 months ahead of RR 2.0 might have been prompted by a contract expiration. Or the Choice Privileges people might not know the RR 2.0 rollout schedule. Or they just might not give a d*mn.