Bilt has today added Preferred Hotels I Prefer as its latest loyalty transfer partner. Points will transfer at a 1:2 ratio from Bilt Points to I Prefer, which matches the newer Citi and Capital One transfer ratios to I Prefer. It’s great to see another lodging partner added to the Bilt ecosystem, though the 1:2 transfer ratio is relatively common at this point, so it feels like less of a win. I suspect that we may see a transfer bonus coming on July 1st, so keep your eyes peeled if you’re flush with Bilt points and might be interested in a transfer to I Prefer at a better transfer ratio.
Preferred Hotels and Resorts are a collection of more boutique-like properties. Some Preferred Hotels properties can only be booked as an award stay through I Prefer. However, some Preferred Hotels properties can only be booked as an award stay through Choice Privileges. Some properties are available through both. We have a post indicating when it makes more sense to use your I Prefer points or when it makes more sense to use your Choice Privileges points.
I had a stay booked this summer at a Preferred Hotels property, though the property I booked was not available via I Prefer but rather only via Choice Privileges. That type of quirk makes this new transfer partner of limited use. There will surely be some situations where you can get a decent value for your I Prefer points, but at a 1:2 transfer ratio, it usually isn’t a slam dunk. However, when Bilt has added other transfer partners like this, we have seen a Rent Day transfer bonus follow shortly thereafter. I therefore wouldn’t be surprised at all to see a July 1st Rent Day transfer bonus to I Prefer. Assuming that we do see that, it certainly might make sense to transfer depending on your level of status with Bilt Rewards and whether or not you have a near-term use for I Prefer points.
Keep in mind that Citi offered a 1:4 transfer ratio to Preferred Hotels I Prefer until April 19th of this year, when they reduced the transfer ratio to 1:2. At a 1:4 transfer ratio, there are far more opportunities to do quite well with your I Prefer points. I suspect that some readers probably made a speculative transfer ahead of that April 19th deadline. If you did, you probably won’t be too drawn into this new transfer option, even if a transfer bonus launches on July 1st. However, if you didn’t take advantage of that with Citi and you are flush with Bilt points, you might want to keep an eye out to see if we do see a transfer bonus on the first of July.
It will be good to keep this one in mind when you’re considering your various lodging options, but I expect it will only be compelling in niche situations or during transfer bonuses.
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July 1st is actually a Hilton transfer bonus.
This is starting to feel like a downgrade. The more mediocre transfer partners Bilt adds, the re-run for the next desirable rent day bonus takes at least one month longer.
Next at bat: Leading Hotels of the World
Cool. Anyway. BILT Cash still says “Coming soon” for Blacklane and BLADE. (@L3, *cough*)
Still waiting for Blacklane with Bilt Cash. I mean come on already. I love Blacklane if I can knock $100 off a ride then it works great for me.
Blacklane is being acquired. I’ll guess that introduced a complexity that has to be worked out. People can complain but that’s a material change.
At some point, after six months of teasing it, it’s becoming an issue, because a lot of us have a glut of BILT Cash that’ll expire at the end of the year without high cost redemptions like those, or prepaying rent and offsetting fees.
Lee, since you (and L3), clearly either are on the inside, or just enjoy shilling for them, tell Ankur to get on this one!
Enjoy your July 1 transfer bonus!