One of the bright spots of Le Club Accorhotels program has been the ability to convert or auto transfer Le Club points to Iberia Avios at the rate of 2 points to 5 Avios. I wrote about a piece about this last month.
Starting on March 1, 2013, the exchange rate will change from 2.5 to 1 Avios per Le Club Accorhotels point. This is a devaluation of 60% for those that convert Le Club points to Iberia Avios. Thanks for LoyaltyLobby reader for spotting this banner on Le Club Spanish website.
This is a rather drastic change for many that have been collecting Le Club points for converting them to Iberia Avios. But getting 2.5 Iberia Avios for every Le Club point was a very good deal compared to other airline options.