Massive losses but you can do limited transfer via Virgin Atlantic. 1 SPG pt ->1 Virgin Atlantic Mile -> 1.5 HHonors Points or 1 IHG points (25% bonus if transferring above 20000 pts from SPG) . But in terms of currency, you are converting a night at a top city W or Westin property to an outer suburban Hampton Inn! At best.
Other ways of moving hotel points via this route include 10 HH pts ->1.5 IHG point or 5 IHG pts -> 1.5 HH points.
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