Hilton Honors made an announcement about changes to the program taking effect during 2017 late last month (read more here) and one of the changes was due to happen at the end of February (date was not announced at the time).
A Hilton Honors spokesperson just dropped an email indicating that the changes to the awards will take place starting on February 28 and should be finished on March 1. All award categories will be gone and members are able to mix and match Points & Money in all reservations.
You can access Hilton Honors here.
Hilton Honors has launched Points & Money tool (access here) that should show the current low and high price and estimated new low and high.
Here are some samples form the tool:
Hilton Seychelles Labriz
Hilton Rio de Janeiro Barra
It will certainly be interesting to see how this will play out in the short, medium and long term. Hilton Honors made a promise that none of the hotels would cost more under this new scheme than the old one. It is unclear, however, how long this promise will last.
The Hilton Rio de Janeiro hotel in Barra has been often on sale for $99 and ($79 using one of the discount codes). Considering that the new lowest price for this hotel is expected to be 19,000 Hilton Honors points, it appears that the value of a point is set around half of a cent.