InterContinental Hotels Group (IHG) is running a 24 hour promotion where you can book a reward stay at The Venetian or The Palazzo in Las Vegas for 50% off. While you must book by tomorrow, Tuesday November 24 at 12:00pm ET, you can travel stay anytime between December 1, 2015 and March 31, 2016.
Typically, a room redemption is 50,000 points (which I do not think it is worth it as you can find Las Vegas hotels typically for a reasonable price), but with this sale you can redeem just 25,000 points for the same hotel room. IHG also offers cash + points redemption opportunities which means you can instead redeem 15,000 points + $70 per night. With cash and points you are essentially “purchasing” the points at a .7 cents per point value.
Also, if you take advantage of the current purchase points promotion where you get a 100% bonus on all purchased points you can buy 50,000 points for a total of $312.50 to give you enough points for two nights at either hotel. This means you are only paying $156.25 per night. If the room plus tax is more then this, then I highly recommend using points to pay for the room.
I personally have stayed at both of these hotels a bunch of times and am a huge fan!
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They send me emails all the time for a room rate of $149 a night, so unless it is during CES or other convention or large event times, it is not a deal for most people.