I’ve just received word that American Express Membership Rewards will be offering a 35% bonus on transfers to Virgin Atlantic Flying Club starting tomorrow through December 29, 2012.
Let’s be clear about one thing — the Virgin Atlantic Flying Club program isn’t good for airline redemptions due to the massive fuel surcharges. That being said, it’s an amazing way to rack up Hilton points, since Flying Club miles can be converted into Hilton HHonors points at a 1:2 ratio, as outlined here.
With the bonus tomorrow, this will be an opportunity to convert Membership Rewards points into Hilton HHonors points at a 1:2.7 ratio, which is great, in my opinion.
A Hilton AXON award costs 145,000 Hilton HHonors points if you have one of their co-branded American Express cards, and that’s enough for four nights at most of their top hotels. Transferring 55,000 Membership Rewards points would net you enough Hilton points for four nights. So that means you’re basically paying ~14,000 Membership Rewards points per night at one of the Conrad properties in the Maldives, Tokyo, Koh Samui, etc.
While some value Hilton points lower than I do (I value them at 0.8 cents each), I think this is a great deal, and I’ll be taking advantage of it.
I wouldn’t be surprised to see Virgin Atlantic eventually change their rules when it comes to Hilton HHonors transfers, so I’d hop on this sooner rather than later if you’re interested.