Releases / R3, October 2026
Points bought 10.7% less in October. Airline points fell 12.8%.
I priced the same flights and hotel nights in September and again in October, once in points and once in cash. In October 2026 (Release R3, prices checked October 16–21), one airline or hotel point bought 10.7% less travel than in September, across 151 searches priced in both months: prices in points rose 20.3% and cash prices rose 7.9%. That put the index at 92.4, where August 2026 is 100.
Value of one point, all programsRelease R3 · October 2026
92.4Index points · August 2026 = 100
Nº R3·2026·10 · 176 searches
How to read 92.4: the index started at 100 in August 2026. At 92.4, one point buys 7.6% less travel than it did then.
Table A. Summary · change from September to October
| Measure | Change | Trips compared |
|---|---|---|
| Value of a point | −10.7% | 151 |
| Price in points | +20.3% | 152 |
| Price in cash (US$) | +7.9% | 164 |
| Airline points | −12.8% | 106 |
| Hotel points | −5.5% | 45 |
Each figure compares the same trip, booked the same number of days ahead, in both months. Trips without a price in either month are left out.
Chart 1. Change in the value of a point, by program · Sep → Oct
Show the numbers as a table
| Program | Change | Trips compared |
|---|---|---|
| Air Canada Aeroplan | −1.8% | 6 |
| Air India Maharaja Club | +8.7% | 6 |
| American AAdvantage | −4.3% | 6 |
| ANA Mileage Club | −0.9% | 6 |
| Atmos Rewards | +9.8% | 6 |
| British Airways Club | +4.0% | 2 |
| Cathay Asia Miles | +3.0% | 4 |
| China Southern Sky Pearl | −23.1% | 4 |
| Delta SkyMiles | +1.5% | 6 |
| Emirates Skywards | −19.4% | 4 |
| Ethiopian ShebaMiles | −6.8% | 4 |
| Etihad Guest | −28.9% | 6 |
| Korean Air SKYPASS | +3.5% | 4 |
| LATAM Pass | +6.6% | 6 |
| Qantas Frequent Flyer | −47.8% | 6 |
| SAS EuroBonus | −61.1% | 6 |
| Singapore KrisFlyer | +25.7% | 6 |
| Turkish Miles and Smiles | −16.3% | 6 |
| United MileagePlus | +8.6% | 6 |
| Virgin Atlantic Flying Club | −38.5% | 6 |
| Choice Privileges | −11.1% | 8 |
| Hilton Honors | −15.2% | 6 |
| IHG One Rewards | +9.9% | 7 |
| Marriott Bonvoy | +1.1% | 8 |
| Radisson Rewards | +0.1% | 8 |
| World of Hyatt | −17.1% | 1 |
| Wyndham Rewards | −15.7% | 7 |
The biggest moves
Single trips whose value per point changed the most. Big swings usually mean a program priced one date very differently, not a change across the whole program.
Table B. Biggest gains · value of one point
| Trip | Points | Value |
|---|---|---|
| American AAdvantage Dallas → Shanghai, business · ~60 days ahead | 450,000 → 450,000 | 1.23¢ → 3.58¢ +192% |
| Singapore KrisFlyer Singapore → Seattle, economy · ~60 days ahead | 44,000 → 44,000 | 1.06¢ → 2.09¢ +98% |
| Wyndham Rewards Wyndham Grand Athens · ~180 days ahead | 30,000 → 15,000 | 0.71¢ → 1.39¢ +96% |
| United MileagePlus San Francisco → Sydney, economy · ~180 days ahead | 84,200 → 55,000 | 0.91¢ → 1.64¢ +79% |
| Wyndham Rewards Wyndham Grand Athens · ~60 days ahead | 30,000 → 15,000 | 0.54¢ → 0.96¢ +79% |
Table C. Biggest drops · value of one point
| Trip | Points | Value |
|---|---|---|
| SAS EuroBonus Copenhagen → San Francisco, economy · ~60 days ahead | 30,000 → 386,124 | 8.42¢ → 0.63¢ −92% |
| SAS EuroBonus Copenhagen → San Francisco, economy · ~180 days ahead | 30,000 → 386,124 | 8.42¢ → 0.63¢ −92% |
| Virgin Atlantic Flying Club London → Bangalore, economy · ~60 days ahead | 6,000 → 150,000 | 9.46¢ → 1.40¢ −85% |
| Wyndham Rewards Ramada by Wyndham Istanbul Old City · ~60 days ahead | 7,500 → 30,000 | 0.91¢ → 0.21¢ −77% |
| Etihad Guest Abu Dhabi → New York, business · ~60 days ahead | 120,000 → 458,713 | 3.08¢ → 0.80¢ −74% |
Table D. What could not be priced · 176 searches
| Priced | 156 | 89% |
| No award seat or room | 11 | 6% |
| Sold out or no service | 2 | 1% |
| Site failed to load | 7 | 4% |
| No cash price | 0 | 0% |
A search with no award seat or room can’t produce a value per point, so it isn’t part of the averages above.
Notes recorded during collection (58)
- Singapore KrisFlyer · Singapore → Seattle, economy · ~180 days“cash fare had 1 stop, SFO 9h 30mins. SQ+DL”
- Singapore KrisFlyer · Singapore → Seattle, business · ~180 days“cash fare had 1 stop, SFO 9h 30mins. SQ+DL”
- China Southern Sky Pearl · Guangzhou → Bangkok, economy · ~180 days“no award availability on this flight/date”
- China Southern Sky Pearl · Guangzhou → Sydney, business · ~180 days“no business award available on this flight/date”
- Air India Maharaja Club · Delhi → New York, economy · ~60 days“1 stop FCO 1h 30mins, AI both legs”
- Air India Maharaja Club · Delhi → New York, economy · ~180 days“anchoring effect present”
- Air India Maharaja Club · Delhi → New York, business · ~60 days“1 stop FCO 1h 30mins, AI both legs”
- Air India Maharaja Club · Delhi → New York, business · ~180 days“anchoring effect present”
- Korean Air SKYPASS · Seoul → Paris, business · ~60 days“prestige standard sold out, had to buy prestige plus. no award availability on this flight/date”
- Korean Air SKYPASS · Seoul → Paris, business · ~180 days“prestige standard sold out, had to buy prestige plus. no award availability on this flight/date”
- Cathay Asia Miles · Hong Kong → Melbourne, business · ~60 days“no business award inventory on this flight/date”
- Emirates Skywards · Dubai → Mumbai, economy · ~60 days“no award inventory on this flight/date”
- Etihad Guest · Abu Dhabi → Cairo, economy · ~180 days“award fare labelled as a promo”
- Etihad Guest · Abu Dhabi → New York, economy · ~60 days“award fare labelled as a promo”
- Etihad Guest · Abu Dhabi → New York, economy · ~180 days“award fare labelled as a promo”
- Etihad Guest · Abu Dhabi → New York, business · ~180 days“award fare labelled as a promo”
- Ethiopian ShebaMiles · Addis Ababa → Frankfurt, business · ~60 days“business award unavailable on this flight/date”
- Ethiopian ShebaMiles · Addis Ababa → Frankfurt, business · ~180 days“award fare included 1 stop, FCO 3 hrs, 2nd leg ITA”
- Air Canada Aeroplan · Toronto → Columbus, economy · ~60 days“one stop award available for a cheaper fare”
- Air Canada Aeroplan · Toronto → Columbus, economy · ~180 days“one stop award available for a cheaper fare”
- Air Canada Aeroplan · Toronto → Delhi, economy · ~60 days“prices likely inflated due to demand in the holiday season”
- Air Canada Aeroplan · Toronto → Delhi, economy · ~180 days“cheaper award available via air india or with stops”
- Air Canada Aeroplan · Toronto → Delhi, business · ~60 days“prices likely inflated due to demand in the holiday season”
- Air Canada Aeroplan · Toronto → Delhi, business · ~180 days“cheaper award available via air india or with stops”
- Atmos Rewards · Seattle → Tokyo, economy · ~60 days“social proof present”
- Atmos Rewards · Seattle → Tokyo, business · ~60 days“social proof present”
- Qantas Frequent Flyer · Sydney → Vancouver, economy · ~180 days“cash fare was marketed as a "sale"”
- British Airways Club · London → Munich, economy · ~60 days“avios site was facing technological difficulties on the 20th, award fares tracked on the 21st. award fare add-on shown in inr, converted to eur for tracking purposes”
- British Airways Club · London → Munich, economy · ~180 days“avios site was facing technological difficulties on the 20th, award fares tracked on the 21st. award fare add-on shown in inr, converted to eur for tracking purposes”
- British Airways Club · London → Singapore, economy · ~60 days“award redemption unable to book on this flight/date”
- British Airways Club · London → Singapore, economy · ~180 days“award redemption unable to book on this flight/date”
- British Airways Club · London → Singapore, business · ~60 days“award redemption unable to book on this flight/date”
- British Airways Club · London → Singapore, business · ~180 days“award redemption unable to book on this flight/date”
- World of Hyatt · Hyatt Regency Times Square · ~180 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- World of Hyatt · Hyatt Ziva Cancun · ~60 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- World of Hyatt · Hyatt Ziva Cancun · ~180 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- World of Hyatt · Hyatt Place Dallas Grapevine · ~60 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- World of Hyatt · Hyatt Place Dallas Grapevine · ~180 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- World of Hyatt · Park Hyatt Zurich · ~60 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- World of Hyatt · Park Hyatt Zurich · ~180 days“Hyatt blocked my IP adress after "bot suspicions" -- vpn didn't work. retried multiple times”
- Choice Privileges · Cambria Hotel LAX · ~60 days“anchoring effect present”
- Choice Privileges · Cambria Hotel LAX · ~180 days“anchoring effect and urgency present”
- Choice Privileges · Radisson Blu Aruba · ~60 days“anchoring effect present”
- Choice Privileges · Radisson Blu Aruba · ~180 days“anchoring effect present”
- Choice Privileges · Comfort Inn Regal Park North Adelaide · ~60 days“anchoring effect present”
- Choice Privileges · Comfort Inn Regal Park North Adelaide · ~180 days“anchoring effect present”
- Choice Privileges · Radisson Blu Mall of America · ~60 days“anchoring effect present”
- Choice Privileges · Radisson Blu Mall of America · ~180 days“anchoring effect present”
- Hilton Honors · Hilton Frankfurt City Centre · ~60 days“hotel sold out on this date”
- Hilton Honors · Hilton Frankfurt City Centre · ~180 days“hotel sold out on this date”
- Radisson Rewards · Radisson Blu Hotel Nairobi Upper Hill · ~60 days“anchoring bias present”
- Radisson Rewards · Radisson Blu Hotel Nairobi Upper Hill · ~180 days“anchoring bias present”
- Radisson Rewards · Radisson Blu Resort and Spa Malta Golden Sands · ~60 days“anchoring bias present”
- Radisson Rewards · Radisson Blu Resort and Spa Malta Golden Sands · ~180 days“anchoring bias present”
- Radisson Rewards · Park Inn by Radisson Brussels Airport · ~60 days“anchoring bias present”
- Radisson Rewards · Park Inn by Radisson Brussels Airport · ~180 days“anchoring bias present”
- Radisson Rewards · Radisson Collection Hotel Roma Antica · ~60 days“anchoring bias present”
- Radisson Rewards · Radisson Collection Hotel Roma Antica · ~180 days“anchoring bias present”
Program news in this period
- Hyatt World of HyattAnnounced Oct 15, 2026 · Policy change
- Hyatt World of Hyatt + BiltAnnounced Oct 1, 2026 · Transfer ratio
- Korean Air SKYPASSAnnounced Sep 15, 2026 · Policy change
- Wyndham RewardsTook effect Sep 15, 2026 · Policy change
- Chase UR → Hyatt World of HyattTook effect Oct 1, 2026 · Transfer ratio
Rule changes
None. The collection rules were unchanged.