The offer, its two dates and its gate
IHG One Rewards is taking about 15 percent off the cash portion of Points and Cash award bookings. Milesopedia published the offer on 7 October 2026 and updated it on 15 October 2026. Reservations must be made by 2 November 2026. The stay must end on or before 16 November 2026.
The offer is targeted. The reduced price appears only in the accounts of selected members, and it can differ from one account to the next. A member who sees no crossed-out price in the booking screen does not hold the offer.
Sign-in is part of the mechanic. The reduced price appears only after a member signs in to an IHG One Rewards account. During the window IHG renders the original cash figure with a line through it and the reduced figure underneath.
The cash half of a Points and Cash booking
Points and Cash pays for a Reward Night with a points balance plus a cash co-pay. The co-pay buys the balance of the points the night needs. It is a points purchase attached to one reservation. A member needs at least 5,000 points in the account to use the option.
The reduction lands on the cash co-pay alone. The points the member spends stay the same.
One New York night, six splits
Milesopedia works the offer through one night at the InterContinental New York Times Square in October 2026. IHG prices that night at 84,000 points or $555 US in cash. Points and Cash offers six splits, and each split carries a before-and-after cash figure.
At 14,000 points the co-pay falls from $419 US to $356 US. At 24,000 points it falls from $384 US to $326 US. At 34,000 points it falls from $334 US to $284 US. At 44,000 points it falls from $279 US to $237 US. At 54,000 points it falls from $219 US to $186 US. At 64,000 points it falls from $149 US to $127 US.
The saving holds near 15 percent of the cash co-pay at every split. A larger points contribution lowers the cash amount, and the percentage saved stays about level across the six rows.
Cancelling turns the co-pay into a purchase price
IHG’s terms return a cancelled Points and Cash booking entirely in points. Cancel inside the hotel’s cancellation window and the account receives the points the member spent, plus the points the member bought with the co-pay. Cash does not come back.
That clause fixes the effective price of the purchase. Book 14,000 points plus $356 US and cancel. The account returns 84,000 points, which is the original 14,000 points plus 70,000 points bought for $356 US. The 70,000 points cost about 0.51 US cents each.
Clauses that change the arithmetic
The cash co-pay is never refunded. A cancellation returns points alone.
A late cancellation still returns the points. The hotel charges its own cancellation fee to the card on file.
IHG prices the New York example in US dollars. A member paying in another currency should read the currency shown in the account.
IHG’s 15 percent Reward Night discount at new and refreshed hotels excludes Points and Cash bookings. The two offers do not stack.
IHG’s Ruby Hotels promotion pays 10,000 points for every two nights, and it excludes stays paid with Points and Cash.
What the window asks of the property
The co-pay settles in US dollars, and the points cover the rest of the night. Reward Night prices move with demand, so the cash figure a guest sees can differ a day later at the same property.
The hotel’s own cancellation window decides whether a cancelled booking returns its points. A cancellation inside that window returns the points the member spent and the points bought with the co-pay, and the cash stays with the hotel. A late cancellation also returns the points, and the hotel charges its own fee to the card on file.
The window closes for bookings on 2 November 2026 and for stays on 16 November 2026. A member holding a stay inside that span will look for the crossed-out price on the Points and Cash screen.