IHG One Rewards program is offering a limited-time offer where elite members and co-branded cardholders can save points on award stays.
IHG One Rewards Offering 15% Off Award Redemptions

Through Wednesday, April 5, 2023, the IHG One Rewards program is offering a 15% discount on award bookings. This offer was initially offered only to co-branded cardholders but it has now expanded to elite (Platinum & Diamond) members too.
There is no registration required however, you need to make a booking by tomorrow, April 5, 2023, and complete a stay by May 12, 2023. Moreover, the offer is valid to award booking for up to three nights and Points + Cash bookings will be also entitled where the points part will be discounted.
If you have an upcoming stay with points, this is a very good offer as you can save some points. For example, you can save up to 18,000 points at Intercontinental Maldives.

Another advantage of this offer is that you can use IHG free night certificate at an increased rate. Usually, the free night certificate can be redeemed at properties costing up to 40,000 points whereas with this offer you can book an award stay that cost up to 46,000 points.
Summary
Through Wednesday, April 5, 2023, the IHG One Rewards program is offering its elite members as well as cardmembers 15% off on award redemptions. Although the time window is pretty limited to three days if you have award stays by May 12, 2023, this is a good opportunity to save some points on award redemptions.