It’s hard to imagine why they’d announce this so close to the #grabpocalypse, but Grab has launched a new partnership with Accor that allows the conversion of GrabRewards points into Accor Live Limitless (ALL) points (and vice versa, though I’m less clear how conversions in the other direction work).
This option is now available in the GrabRewards catalogue, and the conversion rate is 1,900 GrabRewards points= 160 ALL points (all tiers of GrabRewards will have the same rate).
What are ALL points worth?
Back in February 2019, Accor announced plans to overhaul its awful Le Club loyalty program. The revised scheme, called ALL, promised things like suite upgrades, the ability to earn elite status through non-hotel activity, and an actual award chart (it’s a sign of the times that this can now considered a benefit).
ALL has launched but the award chart hasn’t materialised yet. As of now, ALL members still redeem points for hotel stay credit at a rate of 2,000 ALL points= 40 Euros (~S$60)
In other words, 1,900 GrabRewards points get you about S$4.80 of Accor stay credit, or 0.25 cents per point. Here’s how that compares with redeeming GrabRewards points for Grab vouchers:
|Value per point (Current)||Value per point (From 2 Mar 20)|
|$5 voucher||0.23-0.26 cents||0.2 cents|
|$10 voucher||0.24-0.28 cents||0.2 cents|
It’s currently a marginal proposition to convert GrabRewards points to ALL, but from 2 March 2020 it may make sense. That’s not because the ALL conversion rate gets better, mind; it’s because GrabRewards gets worse.
Although you can now earn the equivalent of 0.25-0.84 ALL points per S$1 spent on Grab, after the 2 March devaluation you’ll be earning just 0.17-0.33 ALL points per S$1.
|Earn Rate (Current)||Earn Rate (From 2 Mar 20)|
|ALL Points/S$1 on Grab||0.25-0.84||0.17-0.33|
|Effective rebate through ALL points||0.75-2.5%||0.51-0.99%|
|Earn rate based on GrabFood/rides and GrabPay|
Other ways of earning ALL points in Singapore
The SCB X Card earns 3x 360° Rewards Points per S$1 spent locally, and 5x 360° Rewards Points per S$1 spent overseas, so your equivalent earn rate is 0.6 (local) or 1.0 (FCY) ALL points per S$1. That’s a miserable rebate, compared to what you could do with miles.
More ways of earning hotel points are always welcome in Singapore, but part of me thinks this announcement is going to get buried under the looming specter of the upcoming GrabRewards devaluation.
I’m not won over by what I’ve seen of the new ALL so far, quite frankly. If you really want to get into hotel loyalty, I’d sooner recommend another program like Hilton Honors, World of Hyatt or Marriott Bonvoy.