Changes to SPG Cash & Points - effective March 05, 2013
I am fine with the changes. In Western Europe you hardly ever see C+P when you need it - but here are the largest benefits, especially with the current $/EUR exchange rate. 4800 points + 90$ (70 EUR) is what would buy you a room at the Pulitzer in Amsterdam - which in low season will be at least EUR 225 or so - a points value of 4800 points for 155 EUR (200$), so 4.1 $cents per point - quite OK in my opinion. And you also lose about 15$ in taxes - so maybe even 4.4c.
But the higher the return for spending a point - the lower the yield for the hotel - so maybe we will get some extra availability in Europe with the prices going up. Though obscured through the meanderings of the $/EUR exchange rate after ten years the rates were up for revision. And a very good deal that you never can get also does not help a lot. So we will see what happens.