For an upcoming 2-night-stay in a Holiday Inn Express in Frankfurt I found the following rate
2000 POINTS BONUS
INCLUDES ROOM AND 2000 PRIORITY CLUB BONUS POINTS PER A 2 CONSECUTIVE NIGHTSTAY. IF YOU COLLECT MILES WITH PARTICIPATING AIRLINES POINTS CONVERT INTO MILES. BONUS WILL BE FULFILLED ELECTRONICALLY.
Though I usually don't stay at an IHG hotel I've choosen to collect airlines miles instead of PC points.
My interpretation of this rate is, that the 2.000 bonus points won't be credited to my account but will be converted into airline miles (and then be credited to my Miles & More account).
Am I right about this? And if yes, what is the "conversion rate"?