Aeroplan (Air Canada’s spun off loyalty program) is offering tiered bonuses on the transfer of hotel points through May 13, 2013. The bonuses and participating partner hotel programs are as follows:
As you can see, on the high end we’re looking at a ~27% bonus, which is actually pretty good. Starwood points, for example, convert at a 1:1 ratio with a 5,000 point bonus for every 20,000 points transferred. So transferring 120,000 Starpoints would ordinarily net you 150,000 Aeroplan miles, plus the 40% bonus in this case, for a total of 190,000 miles.
If you have a specific use in mind or are topping off an account this promotion can be a good deal, though I don’t find Aeroplan miles to be nearly as valuable as a couple of years back (before they began imposing fuel surcharges on partner airlines and substantially raised the cost of many redemptions), so I wouldn’t make a speculative transfer just for the purposes of taking advantage of this promotion.
(Tip of the hat to AJ)