May 23 - Aug 21, 2013 Promo - $50 gift card (or 8,000 points) for two stays

This was too good for me to pass up, I have 4 different stays, I'll be ~$260 in costs all in, get $100 in gift cards back. Nice.

Promo page
http://www.choicehotels.com/giftcard

Detals from promo page:

Register below before your first trip and earn an unlimited amount of gift cards during the promotion

• Book at ChoiceHotels.com or 800.4CHOICE and after your second qualifying trip with arrival between May 23 and August 21, 2013 you’ll receive enough Choice Privileges® points to redeem for a $50 gift card of your choice for a participating dining, shopping, or gas retailer; corporate travelers can book through a travel agent or corporate booking system

• Elite Diamond and Elite Platinum members can book directly with a hotel; however, if they book through ChoiceHotels.com these members will receive 100 additional Choice Privileges points with every qualifying trip

• Trips at Econo Lodge®, Rodeway Inn®, Suburban Extended Stay Hotel®, or MainStay Suites® hotels must be a minimum of two consecutive nights

As always read the T&Cs, the fine print that caught my eye was: For Comfort Inn, Comfort Suites, Quality, Sleep Inn, Clarion, Cambria Suites or Ascend Hotel Collection hotels, a trip is defined as a stay that is any number of consecutive nights at one hotel regardless of check-ins or check-outs. For Econo Lodge, Rodeway Inn, Suburban Extended Stay Hotel, or MainStay Suites hotels, a trip is defined as a stay that is two (2) or more consecutive nights at one hotel regardless of check-ins or check-outs. ​

 

As you're a good friend, here's a bit more input:

1. Only those who earn the promotion bonuses can redeem the 8,000 points for the gift card. If you are elite, one gets a little more than 8,000 points (the bonus on the actual spend, plus extra for platinum and diamonds).
2. The points can be used for standard hotel redemptions and I've derived exceptional value from using Choice Privileges points in Europe and the Caribbean, as recently as a few weeks ago - the last promotion was also two stays for 8,000 bonus points and there's a 6,000 point/night option near Condado Beach in SJU.