Most of us on this site are timeshare owners. We know that season as well as location is what gives our timeshare week that we own value. A winter week in the northeast on the ocean has much less value than a summer week. A week when the kids are out of school in Orlando has much greater value than when the kids are in school. Therefore, for Hilton to price the Hilton Honors points required during prime season greater than during off season is just in line with the timeshare mode and good business.
That would be very on-point if Hilton had decreased the off-season point requirements as much as they increased the high-season requirements, such that the average point requirements stayed the same. But they didn't do that. They didn't reduce any off-season requirements. They merely raised the high-season ones.
Thus, it was a devaluation of HHonors points. A very significant one, from what I can tell.
-Bob