One of the most common questions is “how much are my miles worth?” And one of the most common answers is “two cents apiece.” That is an imperfect guess at best, and I think the answer usually varies from about a penny to eight cents (and as a rule of thumb I usually use about 1.5 cents).

But what about the myriad of hotel currencies? Starwood points are worth more than an airline mile – at least 25% more. And Hilton HHonors points are worth less. How much less? One data point is that Hilton will sell you points directly for one penny apiece.