Points Break allows nights at a selected few hotels around the world to be redeemed for 5 000 points, which compared to the full rate for an award night a the most expensive Intercontinental Hotels, can be as much as a 90% discount.
If you are unfamiliar with IHG and their programme, I wrote a beginners' guide not too long ago which introduces the basics of how the programme is run, and how to take full advantage of the Points Break promotions by effectively buying the points in for €35 per night. Alternatively, find a very cheap hotel somewhere and stack a whole load of 4-digit promotional codes from IHG, which Head for Points has summed up. There is also a full thread on Flyertalk which keeps track of codes too.
When the new batch goes live tomorrow (1st November), the promotional page for IHG will be placed here.
Loyalty Lobby has put a list of the participating hotels in his post, though it is short on a lot of the USA properties. They are as below:
Middle East & Africa
People’s Republic of China
Holiday Inn Express Shenyang Golden Corridor
Holiday Inn Brussels Airport