Members of Le Club Accorhotels have until March 25, 2014 to redeem points for U.S. dollar vouchers. Vouchers will still be available, but issued only in euros. Currently, members can redeem 2,000 points for a $60 voucher that can be used for stays at Accor hotels. From March 25, vouchers will only be available at the rate of 2,000 points for a 40 euros voucher.

Bottom line: As Ric Garrido of Loyalty Traveler points out, “The main issue here is the currency exchange rate favors $60 over 40 euros. This is a points devaluation of about 10 percent, if you normally redeem points in U.S. dollars.”