Marriott devaluation: TPG analyzes the affect of Marriott’s current award pricing modifications

In the event you’ve seen larger costs currently for redeeming your Marriott Bonvoy factors, you are not alone. Award charges have elevated at a number of Marriott properties — however paid charges are additionally on the rise as nicely. So are you truly getting much less worth on your factors, or do you simply want extra to coincide with the money charge?

To reply this query, we repeated our 2022 evaluation from when Marriott first launched dynamic pricing, crunching the numbers on a spread of properties throughout the Marriott Bonvoy portfolio.

And, sadly, the information exhibits that, on common, your Marriott factors are value much less immediately than they had been only a few years in the past.

Actually, greater than two-thirds of the 51 properties we studied now have decrease common redemption values. Total, the worth you will get out of your redemptions at these properties has decreased by greater than 15% — and now sits at 0.7 cents per level.

Right here, we’ll go over how we analyzed the worth of Marriott factors and what the outcomes imply for you.

Associated: An outline of the 35 Marriott lodge manufacturers

Methodology

As famous beforehand, we used the identical methodology from 2022, which occurred shortly after Marriott Bonvoy eliminated printed award charts and switched to dynamic pricing. The 51 properties we have been assessing during the last three years run the gamut by way of model, worth and area. They embrace each luxurious and budget-friendly properties, some TPG employees favorites and round 20 properties from Marriott’s listing of hottest factors redemptions. We consider they characterize a cross part of Marriott’s 9,000-plus motels all over the world.

For these properties, we checked money and award charges for all obtainable dates in Could, June, September, November and December 2025. Then, we divided the money worth by the factors charge to calculate a redemption worth for every particular person night time — excluding resort charges, that are imposed on each paid and award stays.

Lastly, we averaged these values for every property and in contrast them to our April 2022 outcomes.

In all, that meant practically 15,000 particular person items of knowledge to reveal how beneficial your rewards are.

So, how has the worth of Marriott Bonvoy factors modified in three years of dynamic pricing? Let’s have a look.

Total affect of Marriott’s award pricing modifications

In whole, 35 of our 51 pattern properties (68.6%) noticed a drop within the worth you get from redeeming factors in comparison with 2022. In some instances, these had been minor drops — however different properties noticed a major decline.

For instance, the St. Regis Amsterdam was among the many most useful redemptions in 2022, with members receiving a mean worth of 1.21 cents per level. Now, our knowledge exhibits that it has dropped to 0.89 cents per level, practically 20% decrease.

And whereas 31.4% of the properties we analyzed now provide the next worth, lots of these had been already under common.

For instance, primarily based on our 2022 searches, you would get a mean worth of 0.47 cents per level at The Westin Toyko. Now, the information exhibits that it has elevated to 0.58 cents per level (on common). Nevertheless, each the 2022 and 2025 numbers are nicely under our February 2025 valuation of 0.85 cents and the brand new common of 0.7 cents per level.

There are nonetheless some properties on this listing the place you possibly can count on to get outsize worth out of your Marriott factors — we’ll element these under. However in the end, the information signifies that your factors could not go as far immediately as they did a number of years in the past.

We reached out to Marriott for a touch upon our evaluation, and here is what an organization spokesperson for Marriott Worldwide needed to say:

With greater than 9,000 motels and demand that fluctuates throughout the yr, dynamic pricing for lodge redemptions at occasions could end in larger redemption prices for motels in excessive demand markets. It additionally implies that there are at all times nice offers obtainable. In 2024, members noticed redemption worth starting from 40 bps to 120 bps, with larger worth for longer stays which obtain the fifth night time free. These embrace a few of our hottest locations similar to ski resorts, over water bungalows and places the place we’re encouraging members to go to like Maui.

They went on to level out the recognition of varied non-hotel redemptions obtainable by means of this system, together with “house leases, yachts, house retail merchandise, and VIP entry to unimaginable experiences — together with Michelin star eating, A-list music performances, and high-profile sporting occasions.”

Regional developments in Marriott valuations

Some areas and varieties of motels had been affected greater than others, however one factor was fixed: All classes we studied noticed a major loss in worth, starting from roughly 10% to almost 30%.

Listed below are the developments we’re seeing throughout the next classes:

Here is a deeper have a look at every of those teams.

US mainland motels and resorts

We assessed 23 Marriott properties throughout the U.S. mainland. Fourteen of them — over half — noticed a lower in worth, starting from solely 3% to an eye-watering 44%.

Throughout all these properties, we’re now seeing a mean worth of 0.69 cents per level. That is 10% decrease than the worth we noticed in 2022 (0.77 cents per level).

That stated, there are nonetheless some standout award properties on this listing. As an example, Gaylord Palms provides you with a mean of 1.01 cents per level, and JW Marriott Essex Home gives a mean of 0.88 cents per level.

Nevertheless, a lot of the above properties provides you with nicely below our present valuation of 0.85 cents per Marriott level. Many are under the brand new common of 0.7 cents per level.

Key takeaway: At many U.S. properties, you are higher off paying on your stick with money and incomes Bonvoy factors to redeem elsewhere.

Associated: The 12 greatest Marriott seaside motels in america

Hawaii motels and resorts

Our Hawaii pattern set noticed a fair better drop (18.2%). Actually, the worth decreased in any respect 4 properties we examined.

On common, you will now get the same worth at these properties as you’d on the U.S. mainland: 0.68 cents per level.

That stated, the Wailea Seaside Resort — Marriott stays an important choice for redeeming Bonvoy factors, with a mean worth of 1.12 cents per level — nicely above each 2022 and 2025 values.

Key takeaway: Choose Hawaiian motels nonetheless provide worth, however crunch the numbers to ensure they’re value it.

Associated: Lower your expenses: How one can guide flights to Hawaii utilizing factors and miles in 2025

Excessive-end worldwide resorts

Luxurious worldwide resorts are historically nice for redeeming factors, and fortunately, this one noticed the bottom drop in worth: a 9.86% lower.

Regardless of the drop, the common worth throughout these properties stays a stable 0.92 cents per level — with Al Maha Dubai and The St. Regis Maldives, specifically, nonetheless providing glorious worth. Actually, The St. Regis Maldives had the very best common redemption charge throughout all properties.

Key takeaway: Reserving worldwide resorts stays among the best methods to redeem Marriott Bonvoy factors, although you will wish to double-check the numbers to make sure it is a good choice.

Associated: From an overwater villa within the Maldives to a non-public island: 7 luxurious motels you possibly can guide with factors

European motels

Marriott’s current pricing modifications hit our choice of European motels the toughest. This class noticed the biggest drop, a disheartening 28.4% lower.

Solely three properties didn’t see a major devaluation: The AC Lodge Krakow stayed roughly the identical, and the Moxy Paris Bastille elevated by about 16%.

The opposite seven properties in our pattern pool noticed their common redemption values lower in comparison with 2022. A few these, the Moxy Vienna Airport and The St. Regis Rome, stay a superb worth on your factors, whereas the remainder are actually sitting nicely under our present valuation of 0.85 cents per level and the brand new common of 0.7 cents per level.

Key takeaway: European motels could also be one of many least beneficial methods to redeem your Marriott factors — however there are nonetheless some gems.

Associated: Marriott plans main enlargement in France

Asian motels

Asian motels fared nearly as badly, with a mean lower of 21.6% throughout eight properties.

Half of those noticed solely slight devaluations and even a rise in worth. The Westin Tokyo noticed important enchancment, although the worth you will get there may be comparatively low for Marriott factors.

The 4 motels that misplaced worth misplaced quite a bit, between roughly 27% and 49%. This provides our Asian lodge pool a mean worth of 0.63 cents per level.

Key takeaway: It is doable to seek out stable worth at Marriott properties in Asia, but it surely’s not frequent.

Associated: Marriott is bringing its new reasonably priced model to Japan

What does this imply for you?

This research signifies that Marriott Bonvoy factors are actually value solely 0.7 cents every — 17.6% decrease than our February 2025 valuation of 0.85 cents.

Nevertheless, as you possibly can see from the information above, there may be a variety of values throughout the properties we analyzed. We discovered common values as little as 0.45 cents per level, however additionally they reached as excessive as 1.56 cents per level.

Moreover, we noticed notable variation on the particular person property degree as nicely. For instance, the Gaylord Opryland in Nashville got here in with a mean redemption worth of 0.88 cents per level. Nevertheless, some dates over the vacations climbed above 1.2 cents.

This implies there are nonetheless candy spots to be discovered — it is simply extra necessary than ever to crunch the numbers and make sure you’re benefiting from your Marriott Bonvoy factors.

Learn extra: How (and why) to calculate award redemption values

Backside line

Final month, Marriott elevated redemption charges throughout a big a part of its portfolio, and, sadly, the information exhibits a notable drop in worth — 0.7 cents per level, down from our present valuation of 0.85 cents.

That stated, there are nonetheless some gems in this system. You possibly can maximize your redemptions by getting a free night time whenever you use factors for 5 nights (or longer). You may as well use Marriott’s calendar search software to seek out the bottom award charges every month to maximise your factors, and through standard journey intervals or particular occasions, you could possibly snag above-average redemption worth. Lastly, you at all times have the choice to convert your Marriott factors to airline miles with greater than 40 completely different carriers.

Simply you’ll want to fastidiously think about which redemption choice makes probably the most sense on your particular keep — now greater than ever.