It's not just limited to the C&P rates. As usual at this property for this time of year, the cash rates are all nonchangeable, too. But a nonrefundable penalty of $300 (+points?) is way better than a nonrefundable deposit of $1750.

But the argument against this deal is that there are cheaper and perhaps better alternatives to staying at the SR. The SR is not ski-in/ski-out, and Ajax (the mountain at downtown Aspen) is not one of my favorites. Cheaper options are available in other towns/resorts, in a 3-star hotel, or with non-SPG award programs.

IMO, if you want to ski Aspen and stay in a 4 or 5-star hotel, this deal is hard to beat.

I loved skiing at nearby Snowmass. It was a huge disappointment that the Westin Snowmass didn't pan out a few years ago.