As of September 2019, Hilton Honors points are worth approximately $0.006 USD each. This means 1,000 Honors points are worth about $6.00 USD, and 50,000 Honors points are worth about $300.00.

This also makes Honors points about the same value as Marriott or IHG points, but substantially less valuable than Accor or Hyatt points.

Since guests earn 10 points for each dollar spent at most Hilton brands, before any elite status bonuses, this means you get an effective rebate of 6% — in the form of Honors points — on spending with Hilton. This is around average for a points rebate for a major hotel loyalty program.

Two Hilton brands — Home2 Suites and Tru — only earn five points per dollar spent, or a rebate of 3.0%.

Those with either of the highest elite status level, Diamond, get a 100% points bonus, meaning they earn an effective rebate of 12.0% on spending with Hilton (excluding Home2 Suites and Tru). Along with Marriott, this is one of the highest points rebates offered to top-tier elites of any major hotel loyalty program.

The co-branded American Express Hilton Honors Aspire Card, the American Express Hilton Honors Surpass Card, and American Express Hilton Honors Card earn 14 points, 12 points, and 7 points, respectively, per dollar spent with Hilton.

This works out to a rebate of 8.4%, 7.2%, and 4.2%, respectively, on Hilton spending.

Depending on the card, there are also bonuses for spending on restaurant, groceries, gas, and flights. Regular spending earns three points per dollar spent on any of the co-branded cards, representing a rebate of 1.8%.

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