Starwood Preferred Guest (SPG) has a unique bonus incentive when transferring SPG points into airline miles with a bonus of 5000 miles per 20,000 transferred.
Sales on SPG points and airline conversion bonus offers can boost this especially to airlines with low taxes and saver awards on business / first class seat availability.
SPG often has point bonus sales as below:
Here is the current and standard points to miles transfer ratio:
Access SPG transfer page HERE.
Here is a look at utilising Etihad Guest miles:
1st Class suite redemption of 55,354 miles and only 80 AED in taxes. ( $22 USD ).
The maths break down:
You could buy your way into a huge discounted 1st class for a little bit over $1050 using the SPG buy points and convert offer.
The normal ( cheapest saver ) cash cost would set you back $ 6000.
Other economy options:
Etihad economy starts at just under 5000 guest miles and again, only 80 AED in taxes. ( $22 USD ).
This is a pretty good offer worth taking advantage of purely for flight redemption.