The group plans to have the new model in place by the end of the year.

A spokesperson for IHG confirmed that the group is experimenting with dynamic pricing, saying “as part of a continued effort to enrich the value proposition for our IHG Rewards Club members, we’ll be introducing variable pricing on reward night redemptions."

Dynamic pricing allows for providers to adjust the price of an award booking as a function of current demand, sliding the cost of a room or airplane seat up or down as a function of market demand.