Originally Posted by lmk
I believe you can convert them to Hilton HHonors points, via Amtrak. At least you used to be able to. 5,000 CO mi converted to 10,000 Amtrak points which converted to 10,000 HHonors points.
I would second this recommendation, though I believe the conversion rate is 5K CO miles -> 5K Amtrak points -> 10K HHonors. You can also bank them in Amtrak since they can be converted to Marriott, Ritz Carlton and other uses.
The 35K CO award to Central and (upper) South America is not a bad deal, assuming you can find nonepass availability.