This is a travel newsletter. You are busy as I am busy and this is designed to help surface some of the most significant opportunities, issues, problems, and opportunities in travel today. It includes a few comments on nice restaurants in various places and other obscure topics.

I now receive more mail from Frequent flyer, buyer, sleeper, etc. programs than other junk mail all combined. But there is some value out there.

The good old days are gone when AT&T negotiated for good, consistent rates at hotels. As little as 3 years ago, the rate in San Francisco, Chicago, or Atlanta was $112 or less. Almost any hotel including Westin, Marriott, Hyatt Regency, Holiday Inn, Motel 6, etc. Now it is totally unpredictable in any given location.

This section is being written in invisible ink since the rules for airlines varies from day to day, airline to airline, etc. But a few comments below. They are observations and may/do differ from situation to situation.

• Full fare tickets are very expensive but they can be changed quickly and easily, both departure and return. My experience is that one is nearly always better off buying a cheap ticket and get a full fare one at the last minute, if required. Be very careful. If you apply a restricted ticket to the fare of a full fare ticket, the entire full fare ticket becomes restricted. You may be better off keeping the cheap one for another date than applying to the full fare at the last minute.
• I was recently able to change the return leg for two flights with little or no cost. In one case I was using a FF Ticket from Continental and was able to change the return for no charge. In the second case, it was a cheap Continental ticket and to change the return costs $75. Not bad if you can live with the restrictions.

• There must be seats available with the same Class.
• And the replacement return-flight must have the same "city-pairs". In my case that meant that a direct flight must be replaced by another direct flight. Not even a replacement that went through a different transit city would do.
• And if the original return flight required a Saturday night stay, so must the replacement.
• But if the original required a 7 day or 14 day purchase, this is not necessarily a requirement for the replacement return flight.

While the true value of points and miles depends on what is important to you and what you do. This provides a few suggestions, etc. In general, the "Value" is determined by the ratio of the value of the free item to the number of points or level of pain incurred to get the item.

• The best value for Frequent Flyer points may be to use it at the time of an emergency. Continental and United allows last minute flights if seats are available and may replace a full fare ticket at a huge price. A recent situation required 20K miles while the two other options were over $1200 for a full fare and about $850 for the bereavement ticket.
• The next best value may be to fly to small airports you wanted to go to anyway. Most major carriers have shuttle ties and can get you all the way to a small airport like Jackson Hole, Wyoming for the same number of points as a trip to Denver or Salt Lake City. The ticket to the small airport may be double or triple the dollar cost to the big airport with competition but still may require the same number of FF Miles.
• Obviously, cross-country flights for the same number of points are better deals in most cases than short ones for the same number of points. (not always true, especially if you book early)
• Finally, based on the previous bullet, tickets from the East Coast to Hawaii are a better deal than from the West Coast for the same number of points and West Coast/Europe similarly.
• The true value of Elite/Premier status on an airline is the following, in order.

1. You have a special terminal to check in
2. You get to board first
3. Better seat selection toward the front. This would be less of an advantage except for the previous one (boarding first)
4. Some chance of first class seats based on various factors
5. You get bonus miles for every flight while you are elite.
6. Coach Flights on Continental without Elite is actually cattle class or baggage class.

• Geneerally, the half price coupon for a hotel or the coupon for a car rental are of no positive value given AT&T rates for both as compared to half of rack rate. An exception may be the use of a half price coupon for a hotel in Hawaii or similar places where no AT&T rates exist.

Parking at hotels has become a big rip-off in some cities. It may range from free in Texas, to $8.00 in Midtown Atlanta, to $24.00 in San Francisco, to $42 in Manhattan. These overwhelm the actual cost of the car rental in some cases.

These are much too confusing, rapidly changing, etc. to summarize. And the new AT&T rates make it necessary to stay at different places in each city. Only Nick is a pro. A few bullets:

1. Marriott has one, two or three programs. Or one new program. And the check —in people seldom know or will admit freely that there is or may be flight or car bonuses.
2. Hyatt claims to not have double dipping but the bill says otherwise. The best restaurants of a major chain. Steer clear of Hyatt St. Claire. They are sub-par.
3. Westin is most consistent, most expensive, but may not be more. (and may not give points for AT&T rates)
4. Hilton may have the best program but has inconsistent hotel quality
5. Sheraton is even more inconsistent on quality and has the charges for frequent staying.
6. Holiday Inns are even more inconsistent

And all are on the list. But enroll in all of them to get the airline coupons.

In many cities, Public transit is the way to go. To downtown Chicago, the train/subway is best. To Manhattan, the bus, train, etc. is required. Washington DC and Atlanta have great subway access. And all seem safe.

I did not check the links to see it they are still good.

Hertz —www.hertz.com