Got an email through about the new option to transfer Amex Reward Points to ALL Accor today.
Since I generally stay with either Accor or IHG when travelling for work, I initially got fairly excited - I spend the bulk of my Amex points on Marriott transfers, but an Accor transfer option would get way more use.
However, my initial evaluation is that the exchange rate is exceptionally poor - potentially, even worse than crediting charges on your card.
Accor points are a fixed exchange rate, of 2000 points = 40 Euros. That means 2000 points are worth pretty much bang-on $80 NZD as of today, or around 4c value per Accor Point
If it was a 1:1 point transfer like Marriott, then that would be another exceptional option for reward redemptions, especially given Accor's much bigger footprint in NZ. However, it's not - it's 5 Amex points to 1 point, which gives is a really poor value of 0.8c per Amex point.
Given that's not a lot better than an Amex point is worth as 'cash credit' on any charge of your account AND it locks you into only using it at Accor, despite the fanfare this seems to me to be one of the worst redemption offerings available for Amex points. Given I can reliably get 4-6c worth of value for $1 of Amex points exchanged via Marriott, this means Marriott transfers are still the best possible redemption offering at roughly 3x the value of the Accor equivalent. Even straight transfers to Air NZ Koru Points or retailer gift cards offer equivalent or superior value.
Pretty disappointed, bit of a miss by Amex/Accor/whoever set the terrible exchange rate.