Through 12/31/11 American Express is discounting many of their Membership Rewards points redemptions. Unfortunately, this doesn’t apply to airline transfers, which are generally the most lucrative way to maximize the value of Amex points. However, there may be some options that make sense for your specific situation.I have tons of airline miles as it is, so I always like to try and figure out lucrative ways to use points to pay for luxury hotels, since most don’t have their own points programs and thus the only way to stay is to pay. Generally though, luxury hotel redemptions don’t make sense in that they usually cost an exorbitant amount of points relative to how much you can pay for a room. However, there may be a situation where using your Amex points might make sense - especially with the current discount and if you are going to a hotel where the currency works against you.For Mandarin Oriental there are four categories of free nights:Bronze includes the following properties and with the current discount, cost: 28,000 points a night:Mandarin Oriental, Kuala LumpurGrand Lapa, MacauMandarin Oriental, ManilaMandarin Oriental, JakartaSilver is 44,000 points a night:Mandarin Oriental, MacauMandarin Oriental, MiamiMandarin Oriental, PragueMandarin Oriental, SanyaMandarin Oriental, SingaporeMandarin Oriental, Washington DCMandarin Oriental, Las VegasGold is 64,000:Sign up for our daily newsletterEmail addressSign upI would like to subscribe to The Points Guy newsletters and special email promotions. The Points Guy will not share or sell your email. See privacy policy.Elbow Beach, BermudaMandarin Oriental, BostonMandarin Oriental Dhara Dhevi, Chiang MaiMandarin Oriental, Hong KongMandarin Oriental, San FranciscoMandarin Oriental, BangkokAnd Platinum is 76,000:Mandarin Oriental Hyde Park, LondonMandarin Oriental ParisMandarin Oriental, BarcelonaMandarin Oriental, GenevaMandarin Oriental, MunichMandarin Oriental, New YorkMandarin Oriental, TokyoThe Landmark Mandarin Oriental, Hong KongOverall, I can’t see getting much more than 1 cent per value with this redemption option, but if you have an upcoming Mandarin Oriental stay, you might as well do the math. For example, if you value your Amex points at 1.5 cents a piece, then you shouldn’t redeem for a night at a Silver property unless its going for $420 or more (28,000 points * .015). And remember, these are capacity controlled - I called and tried to book a room at the Excelsior in Hong Kong for New Years and I was told that rooms were not available using the Amex free nights, but they were available online for sale. Bummer.Before you do this, confirm that the night you want is eligible for free nights per the official instructions:Advance reservations required. Please contact Mandarin Oriental at 1-800-526-6566 and state “American Express Membership Rewards” when making reservations for your stay.If a room is available, make your reservation and get a confirmation number.Then redeem for your certificate by clicking Redeem Now or call 1-800-297-3276 and indicate that you would like to redeem your points for a Mandarin Oriental certificate.You’ll receive a certificate within seven business days.Present the Membership Rewards certificate upon check in at the hotel property.Since these certificates only have 6 month validity, I’d be extra sure that you’ll be able to use them before they expire. I don’t expect many people to get in on this, but it’s good to know the option exists, just in case you have more Amex points than you know what to do with and want to splurge on a luxury hotel stay.T&CCustomers are responsible for all additional room nights and for all incidentals such as, but not limited to, the following: food and beverage, telephone, fitness center, laundry, etc.Advance reservations required.Subject to availability and blackout dates may apply. Subject to each Mandarin Oriental hotel’s no-show and cancellation policies. Customers will be responsible for no-show and cancellation charges.Certificate must be presented upon check-in.Certificates are combinable.American Expresss Membership Rewards Certificates have no cash value and may not be sold, bartered or purchased.Certificates not valid with other promotions or offers.Certificates will be applied during the first night(s) of stay.Mandarin Oriental Platinum Award Black Out Dates:Mandarin Oriental, Geneva2011: February 28-March 22012: January 15-20, March 6-9, May 13-17Mandarin Oriental, Munich2011: September 16, 17, 24, 30, October 1-42012: February 3-5, May 18-19, September 21,22,28,29; October 5-9, December 31Mandarin Oriental, Paris2011: September 27-October 8, December 30-312012: July 1-6, September 27 - October 4; December 31Mandarin Oriental, Tokyo2011: January 1, April 30, May 3-4, December 23-24, 312012: January 1,2, December 28-31The Landmark Mandarin Oriental, Hong Kong2011: March 23-28, December 312012: January 1, March 19-25, December 23-25 and 30-31Mandarin Oriental, New York2011: November 23, December 2-32012: September 17-21, November 21,22,30, December 1,7,8 and 30-31Mandarin Oriental, Barcelona2012: February 27-March2, December 31Mandarin Oriental Hyde Park, London2012: June 19-23, 25,27,29, July 1,3,5,7 and 9-15, July 27-August 12, August 29- September 9Additional 2012 Specials Blackout DatesMandarin Oriental, GenevaFebruary 28 - March 2Mandarin Oriental, ParisJanuary 1,2[card card-name=‘Gold Delta SkyMiles® Credit Card from American Express’ card-id=‘22034414’ type=‘javascript’ bullet-id=‘1’]