Hotel points vs airline miles: which should you be earning?
Last updated: October 2, 2026 Card terms checked: September 2026
A point is not a unit. At The Points Guy's September 2026 values, 60,000 Hilton points are worth about $240 and 60,000 American Airlines miles about $870. Airline miles average 1.2 to 1.55 cents each, and hotel points average 0.4 to 0.75 cents, with Hyatt the exception at 1.65 cents. For most people, the best move is to earn flexible bank points and decide where to spend them when the trip is real.
Values are estimates, not guarantees. Pay every card in full each month.
A point is not a unit
| Program | Type | Value (The Points Guy, September 2026) | 60,000 points is about |
|---|---|---|---|
| Hilton Honors | Hotel | 0.40 cents | $240 |
| IHG One Rewards | Hotel | 0.60 cents | $360 |
| Marriott Bonvoy | Hotel | 0.75 cents | $450 |
| World of Hyatt | Hotel | 1.65 cents | $990 |
| Delta SkyMiles | Airline | 1.20 cents | $720 |
| United MileagePlus | Airline | 1.20 cents | $720 |
| Southwest Rapid Rewards | Airline | 1.25 cents | $750 |
| American AAdvantage | Airline | 1.45 cents | $870 |
| Alaska Atmos Rewards | Airline | 1.55 cents | $930 |
Why more points can pay you less
Compare cards in cents back per dollar, not points per dollar:
| Purchase | Card | Earn rate | Point value | Cents per $1 |
|---|---|---|---|---|
| U.S. supermarket | Hilton Surpass | 6X Hilton | 0.40 cents | 2.4 |
| U.S. supermarket | Amex Gold | 4X Membership Rewards | 2.0 cents (The Points Guy) or 1.8 | 8.0 or 7.2 |
| Hilton stay, booked direct | Hilton Surpass | 12X Hilton | 0.40 cents | 4.8 |
| Hilton stay, booked direct | Chase Sapphire Preferred | 2X Ultimate Rewards | 2.05 cents (The Points Guy) | 4.1 |
| Everything else | Hilton Surpass | 3X Hilton | 0.40 cents | 1.2 |
Even on a Hilton stay itself, the flexible-points card comes out close: 4.1 cents back per dollar against 4.8.
When airline miles win
- Airfare is your biggest travel cost. Long international flights and premium cabins are where award bookings produce the largest dollar savings.
- You live near one airline's hub. More award seats on that airline mean its miles are the currency you will actually use.
- You want points that can sit. Delta, United, and Southwest miles do not expire as long as your account stays open. American miles expire after 24 months with no activity, although AAdvantage cardholders are exempt.
The catch is dynamic pricing. United, American, and Delta price most of their own award seats dynamically, so the miles required move with the cash fare and can climb on busy dates. Partner programs are a partial way around that: Air Canada Aeroplan can book United flights, and British Airways Avios can book American flights, and those partners do not price these flights dynamically. There are fewer seats, but the price can be much lower. Both Chase and Amex transfer to Aeroplan at 1:1.
When hotel points win
- Who is traveling with you. An award flight is priced per person, so a family of four needs four award seats. A hotel award is priced per room, so one free night covers everyone who fits.
- Where the money goes. On a road trip or a drive-to vacation there may be no airfare, so the hotel is the biggest bill.
- Hyatt. At 1.65 cents, it is the only hotel currency valued near airline miles. Its award chart got more expensive on May 20, 2026: each category now has five price levels instead of three, and the top category runs up to 75,000 points, up from 45,000.
Hotel points also expire faster. Marriott, Hilton, and Hyatt points expire after 24 months of inactivity, and IHG points after 12 months unless you have elite status. Any earning or redeeming resets the clock.
What most people should earn instead
Flexible bank points can move to either kind of partner. What each 1,000 points becomes:
| Transfer | Ratio | You receive | Value (The Points Guy, September 2026) |
|---|---|---|---|
| Amex to Hilton Honors | 1:2 | 2,000 Hilton | about $8.00 |
| Chase or Amex to Marriott Bonvoy | 1:1 | 1,000 Marriott | about $7.50 |
| Chase Sapphire Preferred to Hyatt (from October 1, 2026) | 4:3 | 750 Hyatt | about $12.38 |
| Chase Sapphire Reserve to Hyatt | 1:1 | 1,000 Hyatt | about $16.50 |
| Chase to United | 1:1 | 1,000 United | about $12.00 |
| Amex to Delta | 1:1 | 1,000 Delta | about $12.00, minus a small transfer fee |
| Chase or Amex to Air Canada Aeroplan | 1:1 | 1,000 Aeroplan | about $15.00 |
| For reference: 1,000 bank points at The Points Guy's value | n/a | n/a | $20.00 (Amex) or $20.50 (Chase) |
The weak transfers are Amex to Hilton (about 0.8 cents per Amex point) and Marriott (about 0.75 cents). Find the award first, then transfer only what you need. See how transfer partners work.
Four questions that decide it
- Where does most of your travel money go, airfare or lodging? Point your rewards at the bigger bill.
- How many people travel with you? The more people, the more hotel points gain on miles.
- Are you tied to one airline or hotel chain? If so, that company's co-branded card can make sense for the money you spend with it. If not, stay flexible.
- How much effort will you put into booking? If you will not search for award space, the higher value of miles will not show up for you.
To find out what your own cards return in cash and travel value, use the free rewards calculator. For what a point is worth in general, see what a credit card point is worth.
Cards mentioned
- American Express Gold (issuer terms)
- Chase Sapphire Preferred (issuer terms)
- Hilton Honors American Express Surpass Card (issuer terms)