Originally Posted by PHLGovFlyer

The SPG:MR conversion ratio obviously affects purchasing power of legacy SPG points at the legacy MR properties, so this is where a higher conversion ratio would be beneficial to legacy SPG accounts in the short term. However, going forward a lower conversion ratio would result in the legacy SPG properties being priced more reasonably (see above). This should be beneficial assuming the higher legacy MR points earning rates remain unchanged. If the SPG:MR conversion ratio is on the low end it should be easier to earn free nights at legacy SPG properties in the combined program compared to the current SPG program. Compare this to the potential outcome where a high conversion ratio causes the legacy SPG properties to become unaffordable with future earnings.