I've been an Ambassador for many years but I am starting to question its value,given the arrival of my annual renewal notice.
Renewals in recent years have been priced at US$150 and included a 10,000 point bonus voucher. This year (2018), no voucher is included but I have the option of paying US$200 instead of US$150. If I pay $200 I will receive a 15,000 point bonus, suggesting that 10,000 points is worth US$33.33 (or 1,000 points is worth $3.33). If I want the same renewal benefits as in 2017, my renewal cost has in essence jumped by $33.33, or 22.2%. The points purchase price is pretty good but all the same, this is a sneaky way to push the membership fee up. I note that if I was to purchase points from the IHG website, 15,000 points would cost US$172.50, valuing 1,000 points at $11.50, 345% more expensive than the points offer available at renewal time. Going down the US$200 renewal track also gets me a refund of 10% of the points required to purchase Rewards rooms, should I decide to use points for rooms.
Another alternative offered to me is to renew at a cost of 40,000 points (renewing via this method does not confer any other special benefits, ie it's the same as renewing for US$150). This values 1,000 points at US$3.75, slightly better than the price for buying points via the US$200 renewal option but nowhere near the price of points purchased via the IHG website.
Another problem: It's becoming more expensive to use Rewards points for free nights. At the InterContinental Sydney, for example, basic Rewards rooms now cost 40,000 points + ~$115. There's no longer an option to have a 'free' night at this hotel in exchange for rewards points. Rewards points now simply provide a discount off the price of a room, not a zero dollar cost room.
Disappointing.