Hi,
I have heaps and counting.
At the moment, it's just accumulating and I've been transferring them to SQ when required.
As someone else with a few million in MR points I had a look around as to where to best use my points.
Now for each of us this can be different. Where you live, where and what class you want to fly, whether it is just you or a family you are redeeming for, what status you have in airline/hotel programs etc..
While availability is important to me, so is a good burn rate as I had gained a bit of a windfall, and so my current large balance is not likely to reach it's current levels again.
Best Value for me is:
- SQ. Particularly it's J or F Savers (though destinations are limited). *A redemptions(ie ANZ, Thai etc) via SQ are a good option. ie 150K J return MEL-Europe. Availaibity has been far superior to QF in my experience.
- QFF - for a Oneworld RTW ticket. Other redemptions on QFF generally havea realtively poor burn rate. However I am not currently using this as for me a RTW ticket means a trip longer that I can currently take. I am keeping and aquiring more QFF points (those that cannot go to SQ that is) for the time when I can indulge ina longer holiday.
- While I do check-out QF ANYSEAT AWARDS whenever I have looked for long-haul international in J the point costs have been horrendous. CLASSIC in J are normally not anywhere near as attarctive as on SQ/*A Awards.
- SPECIALS: While I have not yet booked one several airlines such as SQ, Malaysian or Virgin Atlantic do have discounts on certain times. Can be worth looking out for though.
Note as I now only redeem for long-hail glights and only occassionaly fly for business domestically or pleasure in Oz, I have no status in any airline program. I do maintian cheap corporate Qants Club Membership which gives me some of the benefits of status while beinga NB flying on cheap Y specials.
Internationlally as I only reddem now in J or above i autimatically get the various status benefits via the class I fly.
Hotels:
I have had a bit of a look at this. However business wise my hotel stays are normally complimentary and so I have no status in any program. Looking at what I could get point wise seems to not offer anywhere near the value of a J flight on SQ or *A.
Further I can generally find via the internet accommodation very econmical options which suit my tastes/ needs (ie my recreational travel is normally 4/5 people in a family and say a two bed partment can be great value) and location requirements for me 5* hotels can often be in locations where I am not wanting to be).
At some loactions where I know the accommodation market is competitive and I have the time I will just secure on the spot by "dealing". ie Hanoi lasy Xmas.