Through August 31, Aeroplan is offering 1,000 bonus miles when converting hotel points to anywhere between 5,000 and 19,999 Aeroplan miles, or 5,000 bonus miles when converting hotel points into 20,000 Aeroplan miles. Of course the timing of this couldn’t be worse for me, given that I converted SPG points into Aeroplan miles just last week.
Either way, this is a great deal. 20,000 SPG points, for example, would convert into 30,000 Aeroplan miles (SPG gives you a 5,000 mile bonus and now Aeroplan gives you a 5,000 mile bonus). Aeroplan miles are easily the most valuable miles of any Star Alliance program, between the favorable award chart, generous routing rules, and lack of fuel surcharges on Star Alliance awards.