I booked a luxury staycation — and somehow came out $1 ahead

The hotel credit on my American Express Platinum Card® stands among my favorite card perks.

It’s highly valuable, providing me with up to $600 per calendar year (up to $300 semiannually) in the form of a statement credit on prepaid stays booked with American Express Fine Hotels + Resorts or The Hotel Collection* through American Express Travel®, Amex’s two luxury hotel programs. This credit is also on The Business Platinum Card® from American Express.

I always know I’m going to get a fantastic experience when I book with Amex Fine Hotels + Resorts, but room rates within the program can be sky-high — even for a one-night stay. I’m not the type of traveler who wants to spend more than $1,000 per night, regardless of how great the hotel is.

Luckily, I’ve found there are more options for less-expensive Amex Fine Hotels + Resorts stays than you may think. Recently, I booked a luxury staycation in Charlotte and actually came out ahead by $1 after maximizing my Amex Fine Hotels + Resorts benefits.

Here’s how I found a less expensive Amex Fine Hotels + Resorts property, how I maximized perks to come out ahead and where you can find similar value for your next luxury trip.

*The Hotel Collection stays require a two-night minimum. Enrollment is required for select benefits.

How I searched for a more affordable Amex Fine Hotels + Resorts stay

I live just 90 minutes from Charlotte, and my partner and I frequently visit to enjoy the city. I’d noticed previously that Amex Fine Hotels + Resorts properties in Charlotte tend to be priced more modestly than in larger cities, where rates can easily top $1,000 per night. So, I decided to take a look at one-night stays in February.

I found two fantastic choices at price points that pleased my wallet. Ultimately, I decided to book a stay at The Ivey’s Hotel, which sits right in the center of Uptown by some of my favorite bars and restaurants, as well as the Blumenthal Performing Arts Center, a fantastic theater in the city.

The total came out to $399. When I factored in the $300 semiannual credit on my Amex Platinum, the stay cost $99. But the deal wasn’t done there.

Booking with Amex Fine Hotels + Resorts comes with standout perks, such as daily breakfast for two (valued at $60 or more per room, per day; you must charge your breakfast bill to your room) and a $100 credit at checkout toward eligible charges to your room**.

Even without factoring in the value of free breakfast, I would come out ahead by $1 thanks to the $100 credit.

**Eligible charges vary by property.

Related: Using your Amex hotel credit? Here are 3 things to know

How I maximized my Amex Fine Hotels + Resorts benefits

With $100 to spend on the property, my partner and I decided to blend practicality with fun to maximize our benefits.

Valet parking cost $55 per night, so that took up more than half of the credit.

Thankfully, we still had about $45 to enjoy a couple of drinks at Sophia’s Lounge, a standout cocktail bar on the property.

I had never visited this spot before, but I was thoroughly impressed by the gorgeous atmosphere and attentive service.

I also enjoyed my Midnight Rouge cocktail, a sweeter riff on the Negroni, which cost $20. My boyfriend enjoyed a glass of cabernet sauvignon for $15.

We maxed out our $100 property credit after factoring in tips for valet and service at the cocktail lounge.

We ordered breakfast to the room the next morning, which arrived promptly and was warm. Breakfast was included in our Amex Fine Hotels + Resorts perks, so it didn’t go against the $100 property credit.

The math came out at $1 ahead after factoring in the $399 cost of the room, the $300 statement credit from my Amex Platinum and the $100 on-property credit through Amex Fine Hotels + Resorts.

However, given the guaranteed 4 p.m. checkout I also enjoyed (which meant more time in our beautiful room), I comfortably exceeded that value in experience alone.

Related: How to maximize benefits with the American Express Platinum

Other high-value Amex Fine Hotels + Resorts properties you can book

Charlotte is far from the only city where you can find solid value with Amex Fine Hotels + Resorts properties.

In the U.S., I’ve enjoyed great rates of around $500 per night in cities such as Baltimore.

There are also some solid options in New Orleans, including Maison Metier, which is part of World of Hyatt. Keep in mind that bookings made through Amex Fine Hotels + Resorts and The Hotel Collection earn hotel loyalty points toward status, even though they aren’t booked directly with the property.

When it comes to international travel, you can find fantastic value for Amex Fine Hotels + Resorts stays in Prague, including the centrally located Andaz Prague.

Outside of Europe, you can also score terrific deals on Amex Fine Hotels + Resorts properties in Kuala Lumpur, Malaysia.

Another way to get high value from your hotel credit is to look for properties that offer a third or fourth night free. TPG contributing editor Matt Moffitt recently booked a three-night stay at the InterContinental Madrid through The Hotel Collection for $699 (with the third night free). His stay also includes complimentary daily breakfast for two and a $100 on-property credit.

Related: 10 hotels where your Amex Platinum hotel credit covers half (or more) of your stay

Bottom line

You don’t have to shell out hundreds or thousands of dollars to use the semiannual hotel credit on your Amex Platinum Card or Amex Business Platinum.

In fact, there are multiple affordable options across the U.S. and internationally. And, if you decide to book a short stay like I did, you may even be able to make the math come out in your favor by maximizing your Fine Hotels + Resorts benefits.

To learn more, read our full reviews of the Amex Platinum and the Amex Business Platinum.

Apply here: American Express Platinum Card

Apply here: The Business Platinum Card from American Express