Dynamic pricing recalibrated, effectively devaluing points ~30% at many properties

After the 2020 shift to dynamic pricing, IHG adjusted the underlying conversion so that many properties required substantially more points relative to cash rates (examples around 0.34–0.38 cents per point versus prior ~0.5 cents). The change occurred without formal announcement beyond the ongoing dynamic model.

What to do: Dynamic systems allow quiet recalibrations; monitor effective cents-per-point rather than nominal category history.