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InterContinental Hotels Group (IHG) is running a 24 hour promotion where you can book a reward stay at The Venetian or The Palazzo in Las Vegas for 50% off. While you must book by tomorrow, Friday October 31, 2014 at 12:00pm ET, you can travel stay anytime between November 16, 2014 and April 10, 2015.
Typically, a room redemption is 50,000 points (which I do not think it is worth it as you can find Las Vegas hotels typically for a reasonable price), but with this sale you can redeem just 25,000 points for the same hotel room. IHG also offers cash + points redemption opportunities which means you can instead redeem 15,000 points + $70 per night. With cash and points you are essentially “purchasing” the points at a .7 cents per point value.
Using points during this promotion is worth it if the hotel room is more than $175/night including tax. Also, if you take advantage of the current purchase points promotion where you get a 60% bonus on all purchased points you can buy 80,000 points for a total of $575 to give you enough points for three nights at either hotel.