Flexible redemption rates will be introduced by Marriott Bonvoy on reward nights from March next year, the company has announced.
Marriott International says the switch to dynamic redemption rates will see rates more closely move with actual hotel rates based on demand and availability, with more price points added to give members more flexibility when booking their reward stays. Currently, the program features standard, off-peak and peak rates.
The switch, designed to help hotels manage their inventory better, will allow properties to increase the number of rooms made available for redemption stays. The company says it expects redemption rates to fluctuate as demand increases and inventory drops as part of normal booking lead times. Bookings made between now and March will continue to be available at the current redemption structure.
Marriott Bonvoy’s redemption change comes as part of a raft of amendments made to incentivise travellers to remain loyal to the program, with members to see their 2021 status extended until the end of February 2023, regardless of when it was earned. The pause on points expiry dates will also be extended, meaning unused balances will remain intact until 31 December 2022.
Suite Night Awards and Free Night Awards due to expire at the end of 2021 will also be extended by six months, giving members further time to redeem their earned rewards. Additional changes taking effect next year will see points able to be redeemed in combination with free night credits to take advantage of the perk faster than under normal earn rates.