Originally Posted by mabramovich

I believe so. You can compare rooms of the same type. You can always book the refundable rate on IHG, phone up the desk, and get them to verify the lower rate. They will then tell you that a lower rate exists but that you are ineligible because you didn't buy the cheapest rate (for that room), which is the AP rate. You can then offer to modify your reservation to the AP rate while they are on the phone with you. That's what I've done -- so there's no risk to try it.