An IHG account is required, you can join here for free.
IHG normally sells points directly for 1.15 cents each. You can also transfer points from Chase, but that’s a criminal use of Chase points. Of course there’s a hack to buy their points at .7 cents each but with the current sale you can buy them directly for less than that without jumping through hoops. And that hack requires that you have points to start with.
IHG will double all the points you purchase, but to get the lowest rate (.575 cents per point) you’ll need to purchase at least 26K points which will be doubled to 52K points for $299. Of course you’ll also earn points on your credit card which will make the effective rate less than .575 cents per point.
You can purchase 60K points per member per year, so you can get up to 120K points with this promotion which would cost $690.
Note that IHG points require activity every 12 months, but you can just redeem for a hotel award and cancel it to extend the expiration for another 12 months.
IHG runs PointBreaks which allows you to book rooms at rotating hotels for just 5,000 points per night. That’s just $28.75 for a room if you buy points at .575 cents each. Those hotels rotate every couple of months.
Plus you don’t pay tax on award nights.
There are also good values to be had at high-end properties in NYC, London, Paris etc. For example an overwater bungalow in Bora Bora can go for as much as $1,000 with tax but costs just 60K points. That’s just $345 at .575 cents per point.
There are several IHG hotels in Israel. They won’t necessarily be a deal with this promotion, but they may be depending on the price of your desired travel dates.
Holiday Inn Ashkelon: 10K ($57.50 with this promo)
Crowne Plaza Jerusalem: 20K ($115)
Crowne Plaza Dead Sea: 25K ($143.75)
Crowne Plaza Eilat: 25K ($143.75)
Hotel Indigo Tel Aviv Diamond District: 25K ($143.75)
Crowne Plaza Haifa: 30K ($172.50)
Crowne Plaza Tel Aviv Beach: 30K ($172.50)
Crowne Plaza Tel Aviv City Center: 30K ($172.50)
InterContinental David Tel Aviv: 40K ($230)