How we used a transfer bonus to save TPG nearly $4,500 on a business trip

It was shaping up to be an expensive gathering.

Earlier this month, a few TPG staffers were planning a trip to New York City for some important strategy sessions. The dates weren’t flexible due to prior travel commitments, but we figured it wouldn’t be too hard to find affordable accommodations.

Boy, were we wrong. We’re talking $700-plus rates per night for basic points properties.

But thankfully, we had a work-around.

Here’s how we turned a transfer bonus on our The Business Platinum Card® from American Express^[1] into nearly $4,500 worth of hotel rooms.

The dilemma

The story begins with a trio of TPG staffers trying to arrange a couple of days of in-person meetings between vacations, work trips and other previously scheduled engagements. When all was said and done, this left a very specific window of time in the back half of September.

And unfortunately, hotel rates were astronomical, with run-of-the-mill properties in Manhattan hovering in the range of $700-$800 per night. This was well beyond our normal budget, so we were left with two very unappealing choices: Eat the cost of the rooms or postpone the trip entirely.

Then, the points gods smiled on us with an impeccably timed transfer bonus.

A 25% bonus for Hilton Honors

On Sept. 2, Amex launched a 25% bonus on transfers from Membership Rewards to Hilton Honors^[2] (note that these offers may be targeted, and some accounts may not be eligible). Normally, you can transfer Amex points to Hilton at a 1:2 ratio, so with the 25% bonus, that meant each Amex point would turn into 2.5 Hilton points.

Daily Newsletter

Reward your inbox with the TPG Daily newsletter

Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts

By signing up, you will receive newsletters and promotional content and agree to our Terms of Use^[3] and acknowledge the data practices in our Privacy Policy^[4]. You may unsubscribe at any time.

(Note: This bonus does run through Sept. 23, so you still have one more day to jump on it — but check out our guide to current transfer bonuses^[5] for updated offers.)

We currently value Amex points at 2 cents apiece in our September 2025 valuations^[6], while Hilton points are just 0.5 cents apiece. Hilton also just implemented some really frustrating price increases^[7] at many of its properties, so even with a transfer bonus, converting your Amex points to Hilton points is far from a guaranteed way to get the best value.

Thankfully, we found a perfect scenario.

Booking the rooms — and saving thousands

We started with the two staffers who needed a room for two nights. Many Hilton properties were charging 150,000 points (or more) per night, but we were able to find a Hampton Inn at just 80,000 points. Two rooms for two nights meant 320,000 Hilton points — or 128,000 Amex points with the 25% bonus.

Previous slide

Next slide

1 of 2

HILTON

The cash rate for each of these reservations? $1,657.20.

I transferred the points to my Hilton account (they posted instantly^[8]) and then booked the two reservations over the phone, adding each staffer as the second guest so they were able to check in.

A few days later, we needed to grab a room for another staffer, this time for just one night. The aforementioned Hampton Inn was no longer available, but we did find a nearby Hilton property for just 85,000 Hilton points — or 34,000 Amex points with the transfer bonus.

The paid rate here was even higher: $1,098.81.

Once again, I transferred the points to my account and repeated the redemption.

All told, these three reservations would’ve set us back $4,413.21 — but instead, we used 405,000 Hilton points, or 162,000 Amex points.

That means we got the following redemption values:

• Hilton points: Nearly 1.1 cents per point
• Amex points: Over 2.7 cents per point

Both of these are well above our valuations for these currencies.

Related: How (and why) to calculate award redemption values^[9]

New Amex Business Platinum benefits — and welcome offer

It’s worth noting that we’ve had our Business Platinum Card^[10] here at TPG for years, but if you’ve been eyeing it and waiting for the right time to apply, it’s very possible that the perfect window has arrived.

That’s because Amex just launched a full overhaul of the card^[11], complete with a slew of new statement credits and updated benefits geared toward small-business owners.

But perhaps most importantly, Amex also launched a best-ever welcome bonus^[12] of 200,000 Membership Rewards points after you spend $20,000 on eligible purchases within the first three months of card membership. The card does now have an $895 annual fee (see rates and fees^[13]), but you can easily cover that fee (and then some) by utilizing the various perks on the card.

Plus, you’ll unlock the ability to leverage future transfer bonuses for your small business — just like we did here at TPG.

Bottom line

We recently faced the potential of an expensive meeting in New York, as hotel rates were sky-high. Thankfully, we had a large stash of Amex Membership Rewards points on our Business Platinum Card^[14], and we took advantage of a limited-time transfer bonus to save the business nearly $4,500.

No, this wasn’t a fancy business-class redemption, and it certainly wasn’t a glamorous resort stay. Instead, it was a prime example of how leveraging the right business card^[15] with a well-timed bonus can result in real savings for your company — and yet another demonstration of how valuable transferable points are^[16].

For rates and fees of the Amex Business Platinum, click here^[17].