The balance starts the comparison

A Membership Rewards point is neither a euro nor automatically a mile. It belongs to a programme with different uses. Start with a concrete need: reducing an expense, completing an airline balance or booking an already planned stay. Earning without a purpose does not prove value, particularly when it requires fees or purchases you would otherwise avoid.

Conversion changes the result

The current Italian catalogue lists Hilton at one to one, Marriott at five MR for four points, British Airways and Iberia at five for four Avios, and Flying Blue and KrisFlyer at three for two miles. More destination points do not automatically mean more value because programmes price awards differently. Compare the final trip, including cash and conditions, rather than conversion multipliers alone.

The formula needs a credible alternative

Use the price of a comparable alternative you would actually buy, subtract the award’s cash charges and divide by MR used. An illustrative example: a EUR 700 alternative, EUR 200 in charges and 100,000 MR produce EUR 500 net, or 0.5 euro cents per MR. Record differences in cancellation or baggage before treating the products as equivalent.

Keep bonuses and comfort separate

A bonus improves the ratio only when it is active, applicable to your account and useful for the trip. An old promotion does not belong in today’s calculation. Enjoying a better cabin is a legitimate personal benefit, but it is not the same as money saved. Separate savings against your alternative from the extra cost you willingly accept for comfort.

The final check

Before redeeming, check availability for everyone, expiry, transfer timing and booking conditions. Keep a dated comparison and do not automatically assign cash value to unused points. A sound strategy does not always choose the same redemption: it chooses what best serves the trip or expense in front of you.

Cash or points?
Sources & verification · Photography
Verified
September 20, 2026

Photography

Images adapted for format and compression. Full credits and licences are available through the links.