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IHG Rewards Club points transfer to a number of airlines, typically at 10,000 points to 2,000 airline miles. (Exceptions to that rate include Air Miles, Air New Zealand, El Al, and Malaysia).
Through October 10, 2016, IHG is running a 50% bonus for transfers to United. Registration required here.
Transfers are in blocks of 10,000 points. Terms say it may be up to 6-8 weeks for miles and bonus miles to be received. I have never transferred from IHG so cannot speak to their speed.
Is this a deal or not?
Using the baseline of $35 per 5,000 IHG points, (0.7 cents/point), $70 gets you 3,000 United miles. Not a hot deal. You can look around for better offers to buy miles direct from United.
If your cost is much lower, for instance, if you have huge piles of points from IHG’s often generous promotions, or you don’t value IHG points for hotel stays, then this is a better than normal way to liquidate your points to an airline. Not much value to points you don’t use.
For me, the geographic breadth and depth of IHG means the points often come in handy and I will not be sending them to an airline at a poor rate.