Each Hilton Honors point is valued at 0.5 to 0.6 cents. This program gives you plenty of options across different categories of properties. You get the fifth night free if you redeem points for a four-night stay. American Express offers a few co-branded Hilton credit cards that help you make the most of this program. Transferring your Amex Membership Rewards Points to this program is also possible.
Like other hotels, the value you receive for a free night depends on the Hilton property you select and your travel dates. For instance, you might have to spend more points to get a free weekend night as opposed to a weeknight.
One noticeable drawback is that you might receive poor value for your points at lower-end and midrange properties. While Hilton points are generally worth less per point than other brands, members often earn more points for every dollar they spend at Hilton hotels and on the hotel's credit cards than with competing brands.