A promotion popped up on my SPG app claiming to offer 50% Hawaii and French Polynesia. I looked up the St. Regis Bora Bora for July and it's available for 62,500 XPF ($583) which is cheaper than the Le Meridian. The code is SPG50PRO but doesn't seem to work on the regular SPG search. To access, go to "Special Offers" in your app and click on the "Full view. Half off" promotion.