It's no secret that hotel stays in New York City can be pricey. But normal levels of pricey quickly turn into sky-high levels of pricey when major events such as the U.N. General Assembly and New York Fashion Week overlap and send hotel rates soaring.
That's exactly what happened during a recent trip, which led me to get creative and turn to the newest transfer partner in the American Express Membership Rewards program: Leaders Club.
I've already written a love letter of sorts to this sleeper-hit new transfer partner, but I was excited to put it to the test in real life — especially since it meant avoiding $1,000-per-night hotel rates.
Many Leading Hotels of the World properties skew higher-end and have more personality and character than your typical chain hotel.
That was certainly true of my NYC home for a few days, the legendary Hotel Chelsea on 23rd Street in Manhattan. The hotel first opened in 1884 and has hosted iconic names including Mark Twain, Arthur Miller, Janis Joplin and Bob Dylan.
And lucky for me, it cost remarkably few points earned from cards such as the American Express Platinum Card® or American Express® Gold Card.
SUMMER HULL/THE POINTS GUYIn other words, this is a far cry from the Hampton Inn I could have booked, which, while a reliable choice, would have cost almost twice as many transferred Amex points for the same nights — and wouldn't have come with quite the same level of Bob Dylan aura.
Cost to book on Leaders Club pointsNights booked via the Leading Hotels of the World start as low as around 4,500 Leaders Club points per night.
With the 4:1 transfer ratio from Amex Membership Rewards, that means you'd need 18,000 Amex points for an award starting at 4,500 Leaders Club points. And while a 4:1 transfer ratio may sound off-putting at first, 18,000 Amex points for a hotel night can still be a solid deal.
In my real-world example, a night at The Hotel Chelsea was going for $1,101, but I could instead book it for 11,875 Leaders Club points. Naturally, that's the route I took.
With the transfer ratio, I needed about 48,000 Amex Membership Rewards points per night.
LEADING HOTELSAs I covered in my previous story on the program, that was just over half the number of Amex points I would have needed to book a Hampton Inn or SpringHill Suites in New York City for the same dates.
In the strange-but-true category, this historic, higher-end hotel was actually one of the cheapest ways to book a much-needed stay in NYC that week using Amex points.
Against a $1,100 cash rate, using about 48,000 Amex points returned more than 2 cents in value per point — beating TPG's October 2026 valuation for Amex points.
Inside my stay at The Hotel ChelseaNow, let's jump ahead to the actual stay, my first at a Leading Hotels of the World property booked with Leaders Club points.
The Hotel Chelsea was, of course, older, but it was also completely charming. From the cozy lobby fireplace to the winding black staircase and art-lined walls, the whole place oozed cool.
SUMMER HULL/THE POINTS GUYMy room was on the smaller side, which is pretty common in Manhattan, but the extra space in the entryway helped it feel a little larger than it actually was.
There was not only daily housekeeping but also nightly turndown service, often with a small treat such as a macaron or cookie left in the room to enjoy before bed.
SUMMER HULL/THE POINTS GUYThe towels were fluffy, the soaps and lotions were high-end and — this may sound strange — even the toilet paper was noticeably nicer than the one-ply special you find at many hotels.
There was also an impressive minibar stocked with everything from jelly beans and chocolate to pretzels and wine, if you were in the mood to indulge.
SUMMER HULL/THE POINTS GUYIf you want a sleek, new, modern hotel that stepped straight out of the pages of Beige Magazine, The Hotel Chelsea isn't it. But if you want a great stay in Chelsea with a convenient location and a serious side of history and character, this might be your place.
Enjoying Leaders Club perksOne pretty great benefit of simply being a Leaders Club member is a complimentary daily continental breakfast for two. At The Hotel Chelsea, this meant a true continental breakfast each morning at Cafe Chelsea.
SUMMER HULL/THE POINTS GUYThe included breakfast came with your choice between a few pastries, coffee and orange juice. I went with a flaky croissant, which, combined with the coffee and orange juice, would have cost about $25 without the Leaders Club benefit. So while it wasn't an elaborate breakfast buffet, it was still a meaningful savings each morning.
SUMMER HULL/THE POINTS GUYOne mistake I made was not mentioning that I was using my Leaders Club breakfast benefit when I ordered.
The breakfast charge was eventually removed after I contacted the hotel following checkout, but mentioning the benefit when ordering probably would have saved me some extra paperwork later.
I also received a bottle of pinot noir in my room that retails for around $20. I can't say for certain that it was a Leaders Club benefit, but since it was sitting near a note welcoming me as a Leaders Club member, that's my best guess.
SUMMER HULL/THE POINTS GUYBeyond the standard Leaders Club benefits, I also have higher-tier Sterling status thanks to my Amex Platinum (enrollment required).
Sterling status includes five complimentary prearrival upgrades per year that you can request online when booking. They weren't relevant on this trip since the upgrades aren't available on points stays, but it's another perk I'm looking forward to trying on a future stay.
Taxes and fees on Leaders Club staysAn interesting caveat about Leaders Club is that the terms indicate you may need to pay taxes and fees on award stays, and the amount of that charge isn't displayed when booking your award unless you have enough points in your account to make the booking.
A work-around to estimate that amount is to price out a cash stay for the same nights and room type, which we did, and we expected to have a couple of hundred dollars in taxes and fees on this three-night stay in a pretty high-tax city.
Only — I wasn't charged any taxes or fees on the award stay. And neither were the other members of my group. We had four rooms booked with Leaders Club points, and none of us were charged taxes or fees on our award stays.
Around the same time, another TPG staffer was trying out Leaders Club award stays in Europe and largely had the same experience.
Online reports suggest that the application of taxes and fees is inconsistent. So, while you should absolutely be prepared to pay them, sometimes you might be pleasantly surprised.
SUMMER HULL/THE POINTS GUYBottom lineMy first stay using Leaders Club points transferred from Amex Membership Rewards isn't likely to be my last.
The Hotel Chelsea was enjoyable, the Leaders Club perks added some real value and, most importantly, using about 48,000 Amex points for a room selling for more than $1,100 that night was an impossible value to beat on my travel dates.
The 4:1 transfer ratio from Amex may seem steep at first, but after putting this new Amex transfer partner to the test in the real world, I'm even more convinced that Leaders Club can be a sleeper-hit option for hotel stays.
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.